Goods & Services Tax Registration
GST stands for Goods and Services Tax. It is an indirect tax implemented by the Government of India to replace many indirect taxes and introduce a single tax regime across the nation. Any business organization or firm that makes a taxable supply with an aggregate turnover of over Rs.20 lakhs in a financial year is required to get GST registration. On the other hand, business organizations operating their operations in special category states need to register for GST if their aggregate turnover crosses the limit of Rs.10 lakhs.
GST Registration Number
GST Registration Number or GSTIN is actually a 15 Digit identification number is given to applicants that apply for GST registration. It is totally based on the PAN number and the state code. First two digit represent the state code and another 10 digit shows the PAN number of the client. One digit represent the company code, one digit is blank and one is represented check digit.
Requirements For the Commencement Of GST Registration:
- Valid Permanent Account Number(PAN),
- Valid Indian Mobile number,
- Valid Email Id,
- Prescribed documents and information on all compulsory fields,
- Place of business,
- Valid Indian Bank account with Indian Financial system code(IFSC) number of the same bank and branch,
- Jurisdiction details,
- Minimum one owner, partner, Director, trustee, or member with corresponding PAN number and
- An authorized signatory (an Indian citizen with valid details including PAN).
GST Registration Process
- Visit the Government GST website and search for Registration Tab,
- Provide PAN, Mobile No., E-mail ID and State in Part-A of Form GST REG-01 of GST Registration,
- You will get temporary reference number on your Mobile and Email once you submit the OTP,
- Now, you will have to fill Part-B of Form GST REG-01 duly signed (by DSC or EVC) and upload the required documents as recommended in accordance with the business type,
- You will get An acknowledgement with the Application Reference Number (ARN) in Form GST REG-02,
- In case, more information or clarification is demanded from you and intimated to you in Form GST REG-03, you will have to visit the department for clarification or submission of documents within 7 working days in Form GST REG-04,
- If your GST application carries inaccurate information or has errors, the office may reject your application. You will be notified about this in Form GST REG-05 and
- Finally, a certificate of registration in Form GST REG-06 will be given to you after the accomplishment of verification and approval, done by the department.
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Frequently Asked Questions
Do I need to register for GST?
- Any person or business organization that fills the following terms and conditions, need to get the GST registration,
- A person or business organization doing business for more than Rs. 20 Lakhs (Rs. 10 Lakhs for the North-Eastern States),
- Currently registered under any of the existing indirect tax regimes, such as VAT, Excise Laws, Service Tax Laws, etc,
- Business operations in multiple states,
- Multiple business verticals in one state,
- Making any Inter-State taxable supply,
- Casual taxable persons & Non-resident taxable persons,
- Persons who need to pay tax under Reverse Charge,
- Required to deduct tax at source,
- Agents of a supplier,
- Input Service Distributor,
- Supplying goods or services through E-commerce Operator,
- E-commerce Operator and
- If anyone is supplying online information and database access or retrieval services from a place outside India to a person in India, apart from a registered taxable person.
What is the role of provisional ID?
Provisional ID becomes your GST Identification Number (GSTIN) later on.
Who are exempted from the GST registration?
- Persons making only supplies covered under reverse charge,
- Agriculturists supplying produce out of cultivation land,
- Persons falling within Threshold Exemption Limit,
- Persons making Nil-Rated/ Exempt supplies of goods and services,
- Persons making Non-Taxable/ Non-GST supplies of goods and services and
- Activities that are neither Supply of Goods nor Services.