Partnership GST Registration

Section: Section 22 of the Central Goods and Services Tax Act, 2017

Purpose: To obtain a unique GST identification number (GSTIN) and register under GST.

Applicability:

• Goods: Partnership firms engaged in the supply of goods with an aggregate turnover of more than Rs. 40 lakhs (or Rs. 20 lakhs for special category states) are required to register under GST.
• Services: Partnership firms engaged in the supply of services with an aggregate turnover of more than Rs. 20 lakhs (or Rs. 10 lakhs for special category states) are required to register under GST.

Timeline: Partnership firms must apply for GST registration within 30 days of becoming liable to register under GST.

Exemption: Partnership firms engaged in the supply of goods or services with an aggregate turnover of up to Rs. 40 lakhs (or Rs. 20 lakhs for special category states) in a financial year are exempt from registering under GST.

Penalty not doing: If a partnership firm fails to register under GST despite being liable to do so, a penalty of 10% of the tax due or Rs. 10,000 (whichever is higher) may be levied.

Due date: The due date for filing the GST registration application is within 30 days of becoming liable to register under GST.

Forms: Partnership firms can register under GST using Form GST REG-01 on the GST portal.

Reporting Authority: The GST registration certificate is issued by the Central Board of Indirect Taxes and Customs (CBIC) and the registration process is managed by the Goods and Services Tax Network (GSTN).