Why does one require GST Registration?
The government has asked all the companies and business whose turnover exceeds the limit of RS. 40 Lakhs and RS. 10 lakhs for Hill states and NE to get a #GST_Registration. GST registration simply means that the firm or company is now registered as a normal taxable company.
If a company or an organization is found to carry out business without any #GST registration has to pay heavy penalties under the GST law. It is not a long term procedure. It usually takes 2-6 working days. One can simply register their business under the GST by signing up online. If you are a supplier of goods or services and if the annual turnover of your business exceeds Rs. 40 Lakhs (applicable from 1st April 2019, earlier it was Rs. 20 Lakhs), then you mandatory require to know about gst registration process step by step.
In this blog, we will guide you on how you can obtain #GST_Registration and what documents you will require.
What are the documents required for GST Registration?
A person requires the following documents for GST registration:
Aadhar card as identity proof
PAN card of the respective applicant
Identity proof of the promoter or director along with some passport size photographs
Address proof of the promoter or director.
Address proof of the working place
Bank account statements of the applicant or any canceled checks.
The digital signature of the applicant.
A letter of authorization or authorized signatory or board resolution.
Other than these documents, applicants have to submit GST registration charges.
GST Registration process step by step:
GST registration is a 10 step process. You have to follow the GST registration process step by step until you receive the success message.
Registration sign up is the first step you need to follow. After opening the GST portal, click on the ‘services’ options followed by a ‘registration’ option and then click onto the ‘new registration’ option.
You will view a new tab opened on your desktop. You have to create a TRN by completing the process of OTP validation. You can use this TRN number to restart your registration process if you leave it without completing it.
The next steps involve TRN generation by completing the OTP verification via your mobile phones. You will be sent two variable OTP’S, one for your mobile number verification and one for email address verification. Kindly fill it within 10 minutes or they will become invalid after that.
Once you have followed the above-given steps you can use generate TRN to submit and complete further GST application registration process.
Once you have successfully generated the temporary reference number or TRN you have to continue the registration process using TRN number.
Once you have logged in, fill in your required business information.
In the next step, the applicant has to submit the required details of their business promoters.
In this step, you have to submit the information of the authorized signatory. The authorized signatory is nominated by the company’s promoters, who are given the duty to fulfill the GST returns at a given time interval.
Enter the primary location of your business or the location where business is performed by the taxpayer.
Continue the procedure by submitting the additional place of your business, details of all the goods and services provided by the company and bank account details. Once you have submitted all this information, verify all the details before submitting them.
Complete the process by signing it. You will get a success message and ARN receipt. You can use it to track your GST application.
To know more about the GST registration process, contact Swarit Advisors.