The Goods And Services Tax Registration Process

GST registration can be conveniently done via the online GST site. Business organizations may fill out a questionnaire on the GST platform and submit the required documentation for registration. This is mandatory for all entities to finish the GST registration process. The execution of activities without authorization for GST is a criminal offense and severe fines are imposed for non-registration.

As per the GST regulations, it is compulsory for a company with a turnover of more than Rs.40 lakh to file as a regular taxable entity. This is viewed as the method of registration of the GST. The revenue is Rs.10 lakh for businesses operating in the hill states and the North-Eastern region. The registration process should be finished within six working days.

Is It Possible To Have More Than One GST Registration?

A business organization need to acquire multiple GST registrations if

  • An enterprise supplies goods and services from different States, then it has to enroll mandatorily under the GST in different States.
  • In addition, each undertaking may take many GSTINs even if it operates under separate vertical lines from a single State in order to reduce the accounting sophistication among various organizations.

Registration Process

  • Head over to the official GST website
  • Click on “Register Now”, this can be found under the Taxpayers tab
  • Click on “New Registration”
  • Fill in the details required.
  • You now receive an OTP, enter and submit the OTP
  • Now click on “Proceed”
  • A temporary reference number (TRN) will be displayed on the screen, note it down.
  • Visit the GST website and select “Register‘
  • Select the “Temporary Reference Number”
  • Enter and submit the TRN and proceed
  • You now be shown a captcha code, enter the captcha code as shown.
  • Now click on “Proceed
  • You again receive an OTP on your mobile phone and email”
  • Enter the OTP and proceed further
  • The status of your registration will be displayed.
  • Click on the edit button and fill in all the details and submit all the required documents.
  • Go to the verification page and select an application from the options given.
  • Once you’ve successfully completed the process, a message stating the same will appear on the screen.
  • You will also receive an Application Reference Number (ARN), you can use it to track the GST Registration status.

Types Of GST Registration

Under the GST Act, there are different kinds of GST registration. It is important that you be familiar with the various forms of GST Registration prior to picking the correct one. The following forms of GST Registration are:

Normal Taxpayer

Most corporations in India fall under this group. You don't need to make any contribution to become a regular taxpayer. There is always no end date provision for taxpayers in this group.

Casual Taxable Person

Individuals wishing to set up a periodic shop or booth can opt for this group. You must pay an advance balance equal to the estimated GST obligation during the time of service of the stand or seasonal store. The timeframe of the GST Registration in this bracket is 3 months and maybe lengthened or renewed.

Composition Taxpayer

Apply for this option if you want to receive a GST Composition Program. You 're going to need to deposit a flat in this classification. An input tax credit can not be claimed in this division.

Non-Resident Taxable Person

If you reside outside India and yet make deliveries to people who live in India, opt for this category of GST Registration. Comparable to the Casual Taxable Person form, you should pay a deposit equivalent to the anticipated GST liability during the period of active enrollment of the GST.

Voluntary GST Registrations

Businesses with a turnover of less than 40 and 20 Lakes may also register under GST, there really is no limitation on registering if the revenue is below (40/20 Lakes), but if the turnover is over the specified amount, registering is mandatory. Registration of your company under the GST not only helps you to get your company legally registered, and also helps you to make use of different perks such as GST invoice, Input Tax Credit, and plenty more.