In the year 2017, the introduction of GST transformed the entire tax structure. According to the present structure, it is mandatory for a business with a turnover of above Rs.40 lakh or Rs. 10 lakh (in case it is incorporated in hill states and North-Eastern states) to register as a normal taxable entity.
Under the GST registration process, a taxpayer gets registered under Goods and Service Tax (GST), and once it is done, the business gets a GST Registration Number that is formally called a Goods and Service Tax Identification Number (GSTIN). It is a 15-digit number, which is issued by the Central Government that helps to determine whether a business is liable to pay GST.
Who is eligible to register under GST by filing a GST Application?
- Individuals registered under the tax services (i.e., Excise, VAT, Service Tax, etc.) before the GST law came into effect.
- Non-Resident Taxable Person and Casual Taxable Person
- Individuals who pay tax under the reverse charge mechanism
- Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be
- Input service distributors, agents of a supplier, and all ecommerce aggregators
- Individuals who provide database access and online information from outside India to people who live in India other than those who are registered taxable persons.
Procedure to Register your GST Number
The registration for Goods and Service Tax (GST) can be obtained on the GST portal. The applicant is required to apply for GST registration in Form REG-01 by following these outlined steps:
- Step – 1 Visit GST Portal and under the “Taxpayers’ tab, select "New Registration".
- Step – 2 Now fill in the required details that include state & district, name, and PAN of the business along with email id and mobile number.
- Step – 3 Fill in the OTP and proceed. On the next page, the Temporary Reference Number (TRN) will be shown, take a note of it.
- Step – 4 Again visit the portal and click on ‘Register’ under the ‘Taxpayers’ menu
- Step – 5 Select Temporary Reference Number (TRN)’. Enter the TRN and proceed
- Step – 6 Enter the OTP on the next page and the status of your application will be available on the next page.
- Step – 7 Now click on the Edit icon on the right side and fill in all the relevant details along with the necessary documents
- Step – 8 Once you upload the documents, visit the ‘Verification’ page and check the declaration then submit the GST Application by any of these methods:
1. By Electronic Verification Code (EVC). The code will be sent to the registered mobile number
2. By the e-Sign method. An OTP will be sent to the mobile number linked to the Aadhaar card.
3. In case companies are registered, the application must be submitted by using the Digital Signature Certificate (DSC).
- Step – 9 You’ll receive the Application Reference Number (ARN) on the registered number and email ID through which you can check the status on the portal.
Documents Required for GST Registration
These are the documents required for the GST registration:
- PAN card
- Aadhaar card
- Business address proof
- Bank account statement and canceled cheque
- Incorporation Certificate or the business registration proof
- Digital Signature
- Director’s or Promoter’s ID proof, address proof, and photographs
- Letter of Authorisation or Board Resolution for Authorized Signatory
How can we simplify the process of getting a GST Registration Number?
Amidst the incorporation of a business, it is strenuous to get involved in all these registration processes. Nevertheless, to save your time as well as efforts, we at Muneembhai accomplish the complete process on your behalf.
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