{"id":16663,"date":"2024-08-30T08:59:09","date_gmt":"2024-08-30T03:29:09","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=14823"},"modified":"2024-08-30T08:59:09","modified_gmt":"2024-08-30T03:29:09","slug":"legal-ownership-document-in-gst","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/legal-ownership-document-in-gst\/","title":{"rendered":"What Is the Legal Ownership Document in GST?"},"content":{"rendered":"\n<div class=\"wp-block-group has-background\" style=\"background-color:#f2f5f9\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\">Key Takeaways <\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mandatory Registration:<\/strong> GST registration is required for businesses with annual turnover exceeding \u20b940 lakhs (\u20b920 lakhs for special category states for goods, \u20b910 lakhs for services).<\/li>\n\n\n\n<li><strong>Diverse Registration Types:<\/strong> There are various GST registration categories, including Regular, Composition Scheme, Casual Taxable Person, Non-Resident Taxable Person, ISD, TDS Deductor, E-commerce Operator, and OIDAR.<\/li>\n\n\n\n<li><strong>Required Documents:<\/strong> Essential documents include PAN card, business registration proof, identity and address proofs, photographs, and bank account details. Additional documents depend on business ownership type.<\/li>\n\n\n\n<li><strong>Premises Types:<\/strong> Business premises can be owned, rented\/leased, shared, government-provided, or residential.<\/li>\n\n\n\n<li><strong>Smooth Process:<\/strong> Accurate and complete document submission ensures a seamless GST registration process, providing long-term benefits for businesses.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>When opting for registration under the Goods and Services Tax (GST) Act, individuals must provide documents confirming their identity, address and legal ownership. This ensures a smoother start for the business. The <strong>legal ownership documents in the GST<\/strong> regime explicitly states the<a href=\"https:\/\/www.merriam-webster.com\/dictionary\/legal%20right\" target=\"_blank\" rel=\"noopener\"> legal rights<\/a> of an individual or group over an asset. These are a set of documents that are deemed to be relevant throughout the GST registration procedure.<\/p>\n\n\n\n<p>Keep reading to learn more about GST registrants and the various types of GST registrations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who Should Register for GST?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/07\/Who-Should-Register-for-GST-1024x576.png\" alt=\"Who Should Register for GST?\" class=\"wp-image-14956\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\"><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The GST registration is compulsory for all businesses that supply services exceeding an annual aggregate turnover of \u20b940 lakhs. For special category states, this minimum GST registration threshold limit is lower (\u20b920 lakhs for goods and \u20b910 lakhs for services).<\/p>\n\n\n\n<p>Similarly, if you own a business that manages to sell goods worth more than \u20b940 lakhs per year then your business must undergo the GST registration procedure. Again, if your goods-supplying venture is in Northeast India then this threshold amount drops to \u20b920 lakhs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Category of GST Registration<\/strong><\/h2>\n\n\n\n<p>In India, there are various categories or types of GST registration, depending on the nature and turnover of the business. Business owners must choose the right category based on the nature of their <a href=\"https:\/\/www.investopedia.com\/terms\/b\/business-activities.asp\" target=\"_blank\" rel=\"noopener\">business activities.<\/a> These are the various GST registration categories:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Regular GST Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Regular GST registration is the most common and is designed for each business whose aggregate turnover crosses the maximum range declared by the Indian Government. These include e-commerce operators, traders, large-scale or mid-scale service providers, etc.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Composition Scheme Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>A composition scheme is carved out for small businesses that manage an annual turnover of up to a certain limit. Here, the maximum limit is \u20b91.5 crores for goods suppliers and \u20b950 lakhs for service providers. You must note that although businesses under this scheme are allowed a lower tax rate, they cannot opt for Input Tax Credit (ITC).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Casual Taxable Person Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Individuals who engage in temporary business activities like trade fairs, exhibitions and so on, must avail the casual registration. These people do not have any fixed place of business and are solely bothered with occasional transactions within a taxable territory. In addition, non-resident Indian taxpayers who temporarily participate in the supply of goods and services need to apply for this kind of GST registration.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Non-Resident Taxable Person Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>It is an exclusive arrangement to provide NRIs with a temporary right to run <a href=\"https:\/\/en.wikipedia.org\/wiki\/Business_operations\" target=\"_blank\" rel=\"noopener\">business operations<\/a> in India. Its validity is for only 90 days or a period of supply, whichever is earlier. This type of registration does not require the concerned party to hold a permanent address in India.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Input Service Distributor (ISD) Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Businesses that hold several centres of operation and those who wish to distribute the ITC uniformly, have to register as Input Service Distributors (ISDs).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>GST TDS Deductor<\/strong><\/li>\n<\/ul>\n\n\n\n<p>There are several designated local authorities, government associations and even individuals who are required to charge Tax at Source (TDS) while settling invoices of their suppliers. They must register themselves under the GST Act as GST TDS Deductors.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>E-commerce Operator Registration<\/strong><\/li>\n<\/ul>\n\n\n\n<p>All e-commerce operators listed in India must register themselves under GST with this domain (irrespective of their turnover).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>OIDAR (Online Information Database Access and Retrieval) Service Provider<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The OIDAR registration is meant for a provider of online information and database access or retrieval operations from overseas to an Indian citizen.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Are the Main Documents Required for GST Registration?<\/strong><\/h2>\n\n\n\n<p>As far as the legal ownership document in GST is concerned, these are the main papers that you need to upload on the unified portal along with the GST registration application form:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Documents for GST Registration\ud83d\udcc3 || Sole Proprietorship &amp; Single Owner\ud83e\uddd1\u200d\ud83d\udcbc || GST || VakilSearch\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/VoJc7yEPEw4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PAN card<\/li>\n\n\n\n<li>Proof of business registration in its country of origin<\/li>\n\n\n\n<li>Business address proof (not applicable for temporary registration)<\/li>\n\n\n\n<li>Proof of identity of the principal owner (can be their voter identity card\/driving license details)<\/li>\n\n\n\n<li>Photographs of the authorized individual<\/li>\n\n\n\n<li>Board Resolution<\/li>\n\n\n\n<li>Address proof of the concerned individual in charge<\/li>\n\n\n\n<li>Bank account details<\/li>\n<\/ul>\n\n\n\n<p>Bank account statements are asked to keep a record of your bank details. You can alternatively submit a cancelled cheque or any page of your bank passbook showing the important details in case you don\u2019t wish to upload pages of bank statements.<\/p>\n\n\n\n<p>Similarly, proof of address documents can be property tax receipts, <a href=\"https:\/\/www.bajajfinserv.in\/know-about-khata-certificate\" target=\"_blank\" rel=\"noopener\">municipal khata copies <\/a>or any type of utility bill such as gas or electricity bills.<\/p>\n\n\n\n<p>Note: GST registration is mandatory for all types of e-commerce business operations in India irrespective of the turnover.&nbsp;<\/p>\n\n\n\n<p>In addition, the following documents may be required in some cases:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ownership deed\/document (only for owned property)<\/li>\n\n\n\n<li>Lease Agreement\/Rent Agreement (for leased\/rented property)<\/li>\n\n\n\n<li>Consent letter\/NOC from the owner (for consent arrangement or shared property)&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Here is a table outlining the legal documents required for GST registration based on types of business ownership:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Types of Business Ownership<\/strong><\/td><td><strong>Required Documents for GST Registration&nbsp;<\/strong><\/td><\/tr><tr><td rowspan=\"5\">Sole Proprietor\/Individual<\/td><td>PAN card of the owner<\/td><\/tr><tr><td>Aadhar card of the owner<\/td><\/tr><tr><td>Bank account details<\/td><\/tr><tr><td>Address proof<\/td><\/tr><tr><td>Photograph of the owner (in JPEG format, maximum size \u2013 100 KB)<\/td><\/tr><tr><td rowspan=\"8\">Partnership firm\/ LLP<\/td><td>PAN card of all partners (including managing partner and authorised signatory)<\/td><\/tr><tr><td>Aadhar card of authorised signatory<\/td><\/tr><tr><td>Copy of partnership deed<\/td><\/tr><tr><td>Address proof of partners (Passport, driving licence, Voters identity card, Aadhar card etc.)<\/td><\/tr><tr><td>In the case of LLP, registration certificate \/ Board resolution of LLP<\/td><\/tr><tr><td>Bank account details<\/td><\/tr><tr><td>Photograph of all partners and authorised signatories (in JPEG format, maximum size \u2013 100 KB)<\/td><\/tr><tr><td>Address proof of principal place of business<\/td><\/tr><tr><td rowspan=\"5\">Hindu Undivided Families<\/td><td>PAN card of HUF<\/td><\/tr><tr><td>PAN card and Aadhar card of Karta<\/td><\/tr><tr><td>Address proof of principal place of business<\/td><\/tr><tr><td>Bank account details<\/td><\/tr><tr><td>Photograph of the owner (in JPEG format, maximum size \u2013 100 KB)<\/td><\/tr><tr><td rowspan=\"9\">Company (Public\/Private\/Indian\/Foreign)<\/td><td>PAN card of the Company<\/td><\/tr><tr><td>PAN card and Aadhar card of authorised signatory. The authorised signatory must be an Indian even in case of foreign companies\/branch registration.<\/td><\/tr><tr><td>PAN card and address proof of all directors of the Company<\/td><\/tr><tr><td>Incorporation Certificate given by Ministry of Corporate Affairs<\/td><\/tr><tr><td>Memorandum of Association \/ Articles of Association<\/td><\/tr><tr><td>Board resolution appointing authorised signatory \/ Any other proof of appointment of authorised signatory (in JPEG format \/ PDF format, maximum size \u2013 100 KB)<\/td><\/tr><tr><td>Address proof of principal place of business<\/td><\/tr><tr><td>Bank account details<\/td><\/tr><tr><td>Photograph of all directors and authorised signatory (in JPEG format, maximum size \u2013 100 KB)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Are the Different Categories of Possession of Business Premises?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/07\/What-Are-the-Different-Categories-of-Possession-of-Business-Premises-1024x576.png\" alt=\"What Are the Different Categories of Possession of Business Premises\" class=\"wp-image-14958\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\"><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The following natures of possession of business premises are the most common across India:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Own Premises<\/strong><\/li>\n<\/ul>\n\n\n\n<p>In this case, the premises are held and controlled outright by a single business entity.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>For Rented or Leased Premises<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Here the premises have been taken on lease by the business entity from a third-party organisation\/individual.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Shared Premises<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Multiple businesses or entities share the workplace. All the activities executed here relate to official purposes.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>All Other Cases<\/strong><\/li>\n<\/ul>\n\n\n\n<p>In addition to the above types, there are government-provided premises and <a href=\"https:\/\/www.dictionary.com\/browse\/residence\" target=\"_blank\" rel=\"noopener\">owned residence. <\/a>The first situation occurs when the government allows a registered taxpayer to resume commercial activities on a leased estate. In the second case, business operations take place from the proprietor\u2019s or partner\u2019s own residential address.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>By properly preparing and submitting <strong>legal ownership documents in the GST <\/strong>regime, your business can gain unprecedented advantages in the long term. To smoothly register under the GST Act, you have to ensure all the documents are updated and attached to the right submission form.<\/p>\n\n\n\n<p class=\"has-ast-global-color-4-background-color has-background\">\ud83d\udca1 If you want to pay your GST with Credit Card, then download\u00a0<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=one.pice.pice_business_loan&amp;_branch_match_id=1260478299341712556&amp;utm_source=website&amp;utm_campaign=homepage&amp;utm_medium=website&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXz8wryyxJ1SvITE5NLCjQS87P1S9PTcrIz00FAMR0ueciAAAA\" target=\"_blank\" rel=\"noreferrer noopener\">Pice Business Payment App<\/a>. Pice is the one stop app for paying all your business expenses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">FAQs<\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1722403964075\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Who is required to register for GST?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Any business with an annual turnover exceeding \u20b940 lakhs (\u20b920 lakhs for special category states for goods and \u20b910 lakhs for services) must register for GST. Additionally, certain businesses, such as e-commerce operators, must register regardless of their turnover.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1722403966744\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What documents are needed for GST registration?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Essential documents include the PAN card, proof of business registration, identity and address proof of the principal owner, photographs, bank account details, and additional documents based on business ownership type, such as partnership deeds or incorporation certificates.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1722403974626\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What is the composition Scheme under GST?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The Composition Scheme is designed for small businesses with an annual turnover up to \u20b91.5 crores for goods suppliers and \u20b950 lakhs for service providers. It allows for a lower tax rate but does not permit the claim of Input Tax Credit (ITC).<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1722403987884\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Can a non-resident business register for GST in India?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, non-resident taxable persons who conduct business activities temporarily in India must register for GST. This registration is valid for 90 days or the period of supply, whichever is earlier, and does not require a permanent address in India.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1722403992482\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What are the different types of GST registrations available?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The main types of GST registrations include Regular GST Registration, Composition Scheme Registration, Casual Taxable Person Registration, Non-Resident Taxable Person Registration, Input Service Distributor (ISD) Registration, GST TDS Deductor, E-commerce Operator Registration, and OIDAR (Online Information Database Access and Retrieval) Service Provider Registration. Each type caters to different business needs and turnover levels.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Key Takeaways When opting for registration under the Goods and Services Tax (GST) Act, individuals must provide documents confirming their identity, address and legal ownership. This ensures a smoother start for the business. The legal ownership documents in the GST regime explicitly states the legal rights of an individual or group over an asset. These [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":14934,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-16663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"_links":{"self":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/16663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/comments?post=16663"}],"version-history":[{"count":0,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/16663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media?parent=16663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/categories?post=16663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/tags?post=16663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}