GST Registration

How to do GST registration

The goods and services tax was introduced in India on July 1, 2017, replacing the existing VAT regime. Since the introduction of this new regime, the issue of GST registration arises. The registration of GST, according to the rule of the so-called goods and services tax, according to GST, is that all merchants and companies whose annual turnover exceeds Rs.20 lakh (in all states of India, except the north eastern states ), then you will have to register with the GSTN goods and services tax network.

Who is Eligible to Register Under GST?

All those merchants and companies whose annual turnover exceeds Rs.20 lakh in all states of India and 10 lakhs in other north eastern states, then you will have to register with GSTN in the Goods and Services Tax Network. Below are the entities needed to enroll in GST.

  1. All entities or traders whose turnover limit is up to Rs. 40 Lakhs * (Rs. 10 Lakhs for the Northeast in the last financial year.
  2. States, J&K, Himachal Pradesh and Uttarakhand)
  3. ISD / Agent: any agent of a provider and distributor of inbound services
  4. All those entities and persons that are registered under VAT, CST, Service Tax, special taxes, etc.
  5. Entities that pay taxes under the RCM Investor Charges Mechanism.
  6. E-commerce entities.
  7. Entities providing access to online databases and any service from a place outside India to a person established in India.

What are the Benefits of GST Registration?

These are the benefits of registering under GST.

  • Legal entity: You obtain the legal entity to collect taxes from your clients and transmit them to the suppliers.
  • Complies with taxes: it becomes an entity that complies with 100% taxes.
  • Eligibility to use ITC: You are eligible to use / claim ITC (Input Tax Credit) that you have paid on your purchases.
  • Legal documents: GST certificate that you can use as one of the documents when opening the bank checking account, from now on. You can request several states and central tenders using your GST number.

Documents required for GST registration

Documents required for Sole Proprietorship / Individual

  • PAN card, Aadhar card, and a photograph of the sole proprietor
  • Bank account details- a copy of the canceled cheque or bank statement
  • Address proof of office (Own office) – Copy of electricity bill/landline bill/water bill/municipal khata copy/ property tax receipt
  • Address proof of office (Rented office) – Rent agreement and No objection certificate (NOC) from the owner

Documents required for Partnership deed/LLP Agreement

  • PAN card, Photograph and Aadhar card of all partners
  • Bank details- a copy of canceled cheque or bank statement
  • Address proof of Principal place of business and additional place of business :
  • Address proof of office-Own office – Copy of electricity bill/landline bill/ water bill/ municipal khata copy/ property tax receipt
  • Address proof of office-Rented office – Rent agreement and No objection certificate (NOC) from the owner
  • In case of LLP- Copy of board resolution, Registration Certificate of the LLP
  • Proof of appointment of authorized signatory- letter of authorization

Documents required for Private Limited / Public limited / One
person company

  • PAN card of the company
  • Registration Certificate of the company
  • Memorandum of Association (MOA) /Articles of Association (AOA)
  • PAN card, photograph and aadhar card of all Directors
  • Bank details- a copy of canceled cheque or bank statement
  • Address proof of Principal place of business and additional place of business:-
  • Address proof of office-Own office – Copy of electricity bill/landline bill/ water bill/ municipal khata copy/ property tax receipt
  • Address proof of office-Rented office – Rent agreement and No objection certificate (NOC) from the owner
  • Proof of appointment of authorized signatory- letter of authorization

Documents required for HUF

  • PAN card of HUF
  • Photograph, Pan Card and aadhar card of Karta
  • Address proof of Principal place of business and additional place of business :
  • Address proof of office-Own office – Copy of electricity bill/landline bill/ water bill/ municipal khata copy/ property tax receipt
  • Address proof of office-Rented office – Rent agreement and No objection certificate (NOC) from the owner.
  • Bank details- a copy of the cancelled cheque or bank statement

Documents required for Society or Trust or Club

  • Pan Card of society/Trust/Club
  • Registration Certificate
  • Photo and PAN Card of Promotor/ Partners
  • Bank details- a copy of cancelled cheque or bank statement
  • Address proof of registered office :
  • Address proof of office-Own office – Copy of electricity bill/landline bill/ water bill/ municipal khata copy/ property tax receipt
  • Address proof of office-Rented office – Rent agreement and No objection certificate (NOC) from the owner
  • Proof of appointment of authorized signatory- letter of authorization

Process for GST Registration online?

PART 1

First, you have to open GST common portal, www.gst.gov.in. From the home page, you have to go to www.gst.gov.in ⇾ “Services” ⇾ “Registration” ⇾ “New Registration”

Here you have this window open

GST Registration
GST Registration
  1. First select ‘New Registration’
  2. Select ‘I am a’ from the drop-down menu.
  3. After that, you need to fill the complete details for your new registration and enter details such as the legal name of your business, state, email address, mobile number, and PAN card.
  4. Then verify your information by entering the one-time password sent to your registered mobile number and email ID.
  5. After completing the process press “proceed” 

After completing Part-1 you will receive a Temporary Reference Number (TRN), after verification. Note down this number somewhere which will be useful later in Part-2.

GST Registration – PART 2

In Part-2 also, you have to open GST common portal, www.gst.gov.in. From the home page, you have to go to

www.gst.gov.in ⇾ “Services” ⇾ “Registration” ⇾ “New Registration”

GST Registration

  1. Here you must click on “Temporary Reference Number (TRN)” and provide the Temporary Reference Number (TRN) that you have already received in your registered email ID and telephone number.
  2. Then complete the OTP verification with the OTPs sent to your email ID and registered mobile phone number. You will then be redirected to the GST registration page.
  3. Here, on the Registration page, you must submit business details, such as the name of your company, PAN, the name of the state in which you are registering your business and the start date of your business, along with your existing records.
  4. Then, you must send the details of the promoters or partners of your business. In the case of a business owner, you must present the details of the business owner. You must provide personal information, designation, DIN (director identification number), PAN number and Aadhaar, etc.
  5. Next, to that, the information of the person you have authorized to submit the GST statements for your company.
  6. Add the main place of business, enter the address, official contact details and the nature of the possession of the premises.
  7. Then, add details of any additional business locations, details of goods and services to be supplied, and details of the company’s bank account.
  8. Then, upload the required documents according to the type of business you are registering.
  9. Now click on “Save and continue”. Once you submit the application, digitally sign the application with a DSC (Digital Signature Certificate).
  10. Click on “Send” to save your data.
  11. After shipment, you will receive a Request Reference Number (ARN) by email or SMS to confirm your registration.

Penalties and Fines Involved Under GST Act.

  • If you do not have GST Registration: 100% tax Due or Rs10,000. Whichever is higher
  • If you do not issue GST invoice: 100% tax due or Rs10,000. Whichever is higher
  • If you issue Incorrect Invoice: Rs 25,000
  • If you do not file GST Returns: For Nil Return its Rs 20 Per Day, Regular Returns Rs 50 Per Day.
  • For Choosing Composition Scheme, if not eligible : 100% tax due or Rs10,000. Whichever is higher

You May Also Like to read

Input Tax Credit on Capital Goods under GST
HOW TO FILE GSTR-9 – Online
Input Tax Credit under Goods and Service Tax
GENERATION OF EWAYBILL WILL BE BLOCKED.

Leave a Reply

Your email address will not be published. Required fields are marked *