GST Registration
GST (Goods and Services Tax), GST Registration, GSTIN, Documentation, Register through OneGST
Introduction to GST Registration
GST (Goods and Services Tax) is one of the most significant tax reforms in this country. GST replaces all indirect taxes levied on goods and commodities. The Goods and Services Tax is a destination-based tax and a single tax covering existing taxes such as Central Excise, VAT, Entry Tax, Octroi, Service Tax, etc.
Types of Registration
Compulsory Registration: Under specific scenarios, the businesses have to register under GST irrespective of the turnover. E.g., inter-state sales of taxable goods, e-commerce operator, e-commerce seller, etc.
Voluntary Registration: The business does not have the liability to register under GST, Can apply for registration voluntarily. This usually is when the companies are willing to take advantage of the Input Tax Credit facility.
Registration under Composition Scheme: The composition scheme is a voluntary and optional scheme for registering under GST. Under the composition scheme, the compliance is more straightforward, and lesser returns are to be filed. The tax is to be filed at a fixed rate. If the business turnover is between INR 40 Lakhs and 1.5 Crores, they can opt for GST Registration under Composition Scheme.
No Registration: when your business does not fall under the conditions for compulsory registration, you do not require GST Registration -
The farmers who supply the crops produced by cultivating the land.
Business for which the total turnover during the financial year does not exceed Rs. 40 lakhs (Rs. 20 lakhs for particular category states) or Rs. 20 lakhs for services (Rs. 10 lakhs for certain category states).
Persons selling goods or services who are exempt under GST or not covered under GST.
Eligibility
Businesses with an aggregated turnover exceeding Rs. 40 lakhs must mandatorily register and pay for GST. The threshold limit is based on the yearly aggregate turnover of a business. It also includes the export of goods and services (if any).
Also, here is the list of specific businesses for which GST registration is mandatory irrespective of their turnover:
Casual taxable person / Non-resident taxable person
Input Service Distributor (ISD) / Any service provider
Inter-state supplier of goods and services
Supplier of goods through an e-commerce portal
Liable to pay tax under the reverse charge mechanism
TDS/TCS deductor
Online data access or retrieval service provider
GSTIN (GST Identification Number)
GSTIN is a 15-digit identification number issued by the tax department upon successful processing of your application.
Example :- 22AAAAA0000A1Z5
Decoding the GSTIN will give us the following information:
The first two digits represent the state code.
The next ten digits represent the PAN number of the business owner.
The following two digits represent the entity code of the PAN holder in a state.
The fifteenth digit is the checksum digit.
Required Documents
Permanent Account Number (PAN) of the applicant
Aadhaar card
Proof of business registration or incorporation certificate
Identity and Address proof of Promoters/Director with Photographs
Address proof of the place of business
Digital Signature
Authorization letter/board resolution for authorized signatory
Bank account statement/canceled cheque
Letter of Authorization/Board Resolution for Authorized Signatory
Procedure for GST registration
The application form is divided into 2 parts – Part 1 and Part 2.
Part - 1
Log on to [www.gst.gov.in] or you can register on the oneGST app.
Click on ‘Registration’ > ‘Services’ > ‘New registration.’
Select the ‘Taxpayer’ as the type of taxpayer from the ‘I am a’ drop-down list.
From the State/UT and District drop-down list, select the state and district for which registration is required.
In the Legal Name of the Business field, enter the legal name of the business.
In the Permanent Account Number (PAN) field, enter the PAN of the business or PAN of the Proprietor.
In the email address field, enter the email address of the primary authorized signatory.
In the mobile number field, enter the valid mobile number of the primary authorized signatory.
Enter the captcha and click the ‘Proceed’ button.
After completing the process, move to Part B. After verification, you will receive a Temporary Reference Number (TRN). Will be sent TRN to the registered email address and mobile number.
Part - 2
Click on the ‘Services’ > ‘Registration’ > ‘New Registration’ option and select the Temporary Reference Number (TRN) button to log in using the TRN.
In the TRN field, enter the TRN generated and the captcha text shown on the screen. Then, click on ‘Proceed.’
Enter OTP sent on mobile or email in the verify OTP page. And, click on the ‘Proceed’ button.
The My Saved Application page is displayed. Under the Action column, click the Edit icon.
On the top of the page, registration application form with 10 tabs open. Click on each tab to enter the details business details.
Now click on ‘Save and continue.’ Once the application is submitted, sign it digitally using DSC and click on ‘Proceed.’
After submission, you will receive an Application Reference Number (ARN) via email or SMS to confirm your registration.
Procedure Of Registration from OneGST app -
Firstly, you have to go to oneGST website.
When you scroll down the website, you will find options.
Open the form, fill it and Submit.
Checking the status of your application
Under ‘Services,’ then click on ‘Track Application Status.
Now Select module type. There are two options: first is ‘Refunds’ and ‘Registration.’ Select Registration.
In the screen that follows, you can check the status of your application by entering your ARN number.
Benefits of GST Registration
For regular registered businesses:
Take input tax credit
Conduct interstate business without restrictions
For Composition dealers:
Limited compliance as compared to other taxpayers
Less impact on working capital
Less tax liability
For enterprises that voluntarily opt-in for GST registration (Below Rs.40 lakhs*)
Avail input tax credit
Get a competitive advantage compared to other businesses
Easily register on online & e-commerce websites
Conduct interstate business without restrictions
Disclaimer: This article is intended for general consumption only. The information in the article was correct at the time of publication, but it is subject to change due to changes in government rules and regulations. The contents of the blog may not be copied unless prior permission is obtained.
Our GST guidebook and experts will help you with all your Goods and Services Tax Queries. Please contact us on +91 8955002477 to know more.
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