Section: The registration of an LLP under GST is governed by Section 22 of the Central Goods and Services Tax Act, 2017.
Purpose: The purpose of LLP GST registration is to enable the LLP to collect GST from its customers, claim input tax credit on GST paid on purchases, and file GST returns as per the regulations.
Applicability: All LLPs that are engaged in the supply of taxable goods or services with an annual turnover of over Rs. 40 lakhs (Rs. 20 lakhs in the case of special category states) are required to register under GST.
Timeline: An LLP must apply for GST registration within 30 days from the date on which the LLP becomes liable to register.
Exemption: LLPs that supply goods or services which are exempt from GST are not required to register under GST.
Penalty: In case of non-registration, a penalty of 10% of the tax amount or Rs. 10,000, whichever is higher, may be levied.
Due date: The due date for filing GST returns is the 20th of each month for the previous month’s transactions.
Forms: The following forms are to be submitted for GST registration:
Reporting authority: The registration application is to be submitted to the concerned GST officer or through the online GST portal.
Other details: Upon successful registration, the LLP will be assigned a unique GST Identification Number (GSTIN) and a password-protected portal where it can access its GST account and file GST returns. The LLP is required to maintain all records related to GST for a minimum of six years. In case of any changes in LLP information such as name, address, or partners, the LLP must update the GST registration accordingly.
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