If you’re planning to sell goods on Amazon’s platform, registering for a Goods and Services Tax (GST) is crucial. GST is a tax on the value added to goods and services in India, and it is mandatory for businesses with an annual turnover of more than Rs. 20 lakhs. In this article, we will discuss the step-by-step process of registering for GST for Amazon’s seller accounts with Taxlegit, an online platform that offers GST registration services.
Understanding GST Registration
Before we dive into the registration process, it’s important to understand the basics of GST registration. GST registration is the process of obtaining a unique Goods and Services Tax Identification Number (GSTIN) from the government. It is mandatory for businesses with an annual turnover of more than Rs. 20 lakhs. GST registration enables you to collect GST from your customers and also claim the input tax credit on the taxes paid on purchases made for your business.
Benefits of Registering for GST on Amazon
Amazon requires its sellers to be registered under GST to comply with the government’s tax regulations. GST registration is also beneficial for sellers as it enables them to avail of various benefits, such as:
- Claiming input tax credit on purchases made for their business
- Increasing their credibility and reputation as a registered business
- Making their products more attractive to buyers by displaying their GST registration number
- Avoiding penalties and legal issues by complying with tax regulations
Steps to Register GST for Amazon’s Seller Accounts with Taxlegit
Here are the steps to register for GST on Amazon’s seller accounts with Taxlegit:
Step 1: Visit the Taxlegit Website
Go to the Taxlegit website and click on the “GST Registration” option under the “Services” tab.
Step 2: Fill in the Details
Fill in the required details, such as your name, email address, mobile number, and the nature of your business.
Step 3: Submit Documents
Upload the required documents, such as your PAN card, Aadhaar card, bank statement, and rent agreement.
Step 4: Payment
Make the payment for the GST registration service offered by Taxlegit.
Step 5: Receive GSTIN
Once your GST registration is processed, you will receive your GSTIN within 7-10 working days.
Common FAQs About GST Registration for Amazon’s Seller Accounts
- What is the threshold limit for GST registration for Amazon sellers?
- The threshold limit for GST registration for Amazon sellers is an annual turnover of more than Rs. 20 lakhs.
- Can I register for GST myself or do I need to hire a professional?
- You can register for GST yourself, but it’s recommended to hire a professional to ensure that the registration process is error-free.
- What are the documents required for GST registration for Amazon sellers?
- The documents required for GST registration for Amazon sellers include a PAN card, an Aadhaar card, a bank statement, and a rent agreement.
- How long does it take to receive the GSTIN after registration?
- You will receive your GSTIN within 7-10 working days after registration.
- Do I need to renew my GST registration every year?
- No, GST registration is valid for a lifetime, and there is no need to renew it every year.
GST registration is mandatory for businesses with an annual turnover of more than Rs. 20 lakhs and it’s crucial for Amazon sellers to register for GST to comply with the government’s tax regulations. Taxlegit offers an easy and hassle-free GST registration process for Amazon sellers. By following the steps mentioned above, you can register for GST on Amazon’s seller accounts with Taxlegit and enjoy the benefits