Things You Should Know About Mahagst in India

 If you are an entrepreneur, you know the importance of GST. The GST has streamlined the whole tax filing procedure for businesses. Since its inception in 2017, the GST portal has made revolutionary changes in the taxation domain. Now, companies can register for GST, file taxes and refunds, and cancel GST registration online. 

Following the Union government’s GST portal, Maharashtra has also created a similar portal called MAHA GST. As Mumbai is the country’s financial capital, having a separate website for filing taxes in this region makes sense. 

So, let’s see everything you should know about Maha GST in India. 

What is Maha GST?

As already mentioned, the Maha GST is the GST portal launched by the government of Maharastra. While the Indian government already has another portal, www.gst.gov.in, the Maha GST portal is specifically for businesses registered in Maharashtra. After the launch of this portal, the ease of doing business has significantly improved in Maharashtra. 

Furthermore, the Maha GST portal has increased the number of GST taxpayers in Maharashtra.

Who should use the MahaGST portal?

Businesses operating in Maharashtra need to register on the Maha GST portal. There are also specific registration criteria on the MahaGST website. 

If the business:

• It has an aggregate turnover of more than Rs 20 lakh yearly. 
• Supplies goods and products worth Rs 40 lakh in a year. 
• It is available on an e-commerce website and does transactions of goods countrywide. 

Besides businesses, individuals may also get registered on the MahaGST portal if they are: 

• A casual taxable person who takes a temporary supply of goods through another business or shop. 
• Registered under another taxation system such as VAT, Excuse duty, etc.

Validity of Maha GST registration

Usually, the Maha GST registration is valid in the state until it isn’t cancelled. However, you may apply for cancellation if you want to withdraw your Maha GST. For non-resident Indians or casual tax-paying individuals, the GST registration is temporary. In this case, the GST registration expires after a certain period. 

To register on the Maha GST portal, you will need a permanent account number (PAN). This PAN is mandatory for every taxpayer in India, whether they are foreigners, proprietors, partners, or LLPs. 

How to register on the Maha GST portal? 

As said earlier, every business registered in Maharashtra must have a GST registration. The complete process is online, from registration to getting a GST number. You don’t need to visit any office during the entire process. 

Here are the steps you need to follow to register on the mahaGST portal. 

1. Go to the official website of mahaGST (www.mahagst.gov.in). 
2. The homepage of the Maharashtra GST portal will be opened on your screen. 
3. Click on the other acts’ registration. 
4. Choose the new dealer registration option.
5. Now click on the new dealer registration under various acts. Read the process and documents required for registration. 
6. Now click the “Next” button on the screen’s bottom right. 
7. Then, click on New Dealer and select “Next” from the screen again. 
8. A dialogue box will appear; fill in the PAN details and follow the instructions. 

Documents required for registering on the MahaGST portal

To register on the MahaGST portal, you will need the following documents: Keep these documents ready before applying for registration. 

If you are the sole proprietor of your company or registering as an Individual, you will require the following: 

• PAN card 
• Aadhar card 
• Address proof 
• Bank account detail 
• Passport-size photo in JPEG format under 100kb. 

If you are registering your business in a partnership, including LLP, you will require these documents: 

• PAN card of all partners 
• Aadhar card of all partners. 
• Passport-size photographs, JPEG under 100kb 
• Bank account details of the firm 
• Address proof of primary business location.
• Address proofs of all partners. 

If the GST registration is for a Hindu Undivided Family (HUF), you will require the following: 

• PAN and Aadhar cards of HUF and Karta.
• Photograph of Karta, JPEG under 100kb.
• Bank account details of the firm 
• Address proof of primary business location. 

If you are registering as a company, the required documents are: 

• PAN card of the company 
• Memorandum of Association and Articles of Association
• Account details of the company 
• The company's authorised signatory uses PAN and Aadhar cards.

Benefits of registering at Maharastra GST portal

There are various benefits to registering at the mahaGST portal. The Maharashtra GST portal lets taxpayers register for GST, file GST returns, and inquire about GSTIN. Moreover, taxpayers can get the latest GST rules and notifications. 

Once you get a GST registration number from the MahaGST portal, you can create a challan, initiate Mahagst payments, and pay your taxes in a single place. 

The benefits of the Maha GST portal: 

• Uniform rate of taxes on goods and services throughout the nation. 
• No overlapping or cascading effect of taxes. 
• Composition scheme for small companies and businesses. 
• Easy to comply
• High exemption limit for small businesses and goods. 
• Transparency in tax filing and returns. 
• The whole process is streamlined and online. 
• MahaGST e payment facility.

The composition scheme for small businesses: 

The government has launched a GST composition scheme for small businesses to simplify the GST filing process and reduce compliance costs. Businesses with an annual turnover of fewer than Rs 75 lakhs are eligible for this scheme. Under this scheme, Maharastra businesses must fill out the CMP-08 form quarterly and GSTR 4 form annually. 

The composition scheme is annual, and businesses must pay quarterly tax at a certain percentage of their turnover.

Conclusion:

The MahaGST portal is one of the Maharashtra government's most innovative ideas for streamlining the GST process. For businesses, the portal has made it easy to comply with the government's directions and is updated with new notifications. On the other hand, for the government, the portal has reduced tax evasion. The portal has created a win-win situation for businesses and the government.