Goods and sales tax, well you all must have come across this term many a times since the last year. Under this regime set by the central government of India, the companies who have turnover over 20 lakh rupees are supposed to get themselves registered for paying tax. The procedure involved is termed as GST Registration.
Also, for all the businesses which fall under the category of GST registration must get this done as soon as possible as, if they fail to do so, it will be considered as an offence and they can be charged with heavy penalties.
The normal step by step process of GST registration takes about 3-4 days.
Procedure of GST registration
- Open the GST portal available online and choose the Register Now option, under tax payer option.
- A page opens up, where you have to fill the necessary details such as- Your state, district, Name of the business, PAN. You also have to give your mobile number and email ID which is under use. You will receive an OTP for confirmation. Enter the OTP and move further.
- Once the above process is over, you shall receive a Temporary Reference Number (TRN). Note it down carefully somewhere.
- Now, again move to the GST portal and enter your TRN number with the captcha code. You will again receive an OTP, enter it and move to the Part B of the form.
- Upload and mention the required documents as well as information like- photographs, Constitution of Taxpayer, Proof of place of business, Bank account details, Authorization form etc. Click on the verification icon.
- Read and tick in the declaration form and submit your application, either using e-sign or DSC.
- You will receive a confirmation message of your application been submitted, and you also receive an ARN number. You can check the status of the same from time to time, using your Application Reference number.
Who should register for GST?
- Individuals registered for taxes like- Excise, VAT, Service tax etc.
- Non-resident taxable person
- Individuals paying tax under reverse charge method.
- Every person dealing in e-commerce.
- People supplying online information and other database from a foreign country to a person of India, who is not registered under any pre-GST tax.
- Businesses having annual turnover of over 20 lakh rupees. For regions like- North-Eastern states, Jammu and Kashmir, Himachal Pradesh, and Uttarakhand, the annual turnover must be above 10 lakhs.
Legal-N-Tax Advisory is a leading legal services provider in India. We help businesses register their business under GST. To get any help, contact us today!