What is GST Registration | How to Apply for it?

Any person carrying on the business in India is liable to pay tax in the form of Goods and Service Tax (GST). A person engaged in trading and commerce, including carrying any economic activity is treated to be taxable and comes within the ambit of the tax regime.

Therefore any person such as Company, LLP, partnership, proprietorship, HUF, association of persons, body corporate registered under foreign law, co-operative society local authority, government company, trust, and artificial jurisdiction person engaged in any business or economic activities and having specified amount of turnover is liable to get GST registration for business in India.

GST registration is compulsory in case any person or entity is providing a taxable supply of goods or services with an annual aggregate turnover of more than Rs.20 Lakhs (Which is reduced to 10 Lakhs in cases of Assam, Nagaland, Manipur, etc.). Also, if any business entity undertakes inter-state supply of goods or services or has an existing VAT, Service Tax or central excise registration, they must obtain GST registration.

Goods and Service Tax (GST) is Indirect Tax levied in India and substitutes all the other forms of indirect tax that prevailed during the Pre-GST regime such as service tax, excise duty, VAT, and CST into a single tax system. GST was introduced with the motive to reduce complexities so that small entrepreneurs can commence the business with ease.

The process to obtain a GST registration certificate

Following is the procedure in brief for getting registered under GST:

• Apply online through GST official website https://www.gst.gov.in and apply by using PAN, Email Id and Contact Number of applicant

• Once the application is submitted, ARN Number is generated by sending the same on the mobile number, and email id of the applicant and the same shall be saved for future reference and log in.

• Login using ARN and complete the registration by attaching necessary documents.

• Once the application is submitted, GST certificate is allotted within 10-15 days on email-id registered with GST portal

GST Registration Process

Following is the GST registration Process in India:

• Visit GST official website https://reg.gst.gov.in/registration/ for online GST registration and click drop-down menu "Services" and select new registration to proceed.

• Complete the one-page form with details such as name, category of business, PAN number, mobile number, and email-id.

• Once the form is completed and submitted, OTP is sent to registered email id and mobile number for "OTP verification"

• After OTP is verified, a number generated online (Known as TRN) which can be used to enter GST portal for the further registration process.

• Login using TRN and complete the details of form by furnishing the mandatory details.

• Attach the documents in the format as asked such as photographs in JPEG format, PAN and Aadhar copy in PDF format.

• Submit the final application.

• Upon the receipt of the GST application, the department verifies the app, and if it found everything correct, the department issues the GST Certificate by sending it on registered email-id.

Documentation

Following documents are required for GST registration:

• PAN card and Aadhar card of the sole proprietor
• Email id and mobile number of the sole proprietor.
• Address proof of principal place of business such as electricity bill and rent agreement.
• An updated copy of the passbook for bank details.
• Passport size photograph
• Digital Signature Certificate (DSC) of an authorized signatory.

Conclusion

The government too encourages the young entrepreneur by creating legislation for regularizing and protecting the interest of the entity engaged in working solely. For complete guidance and assistance for getting the GST registration certificate and necessary GST compliance, contact us.