GST is also known as Goods and Services Tax which applies to all the Indian service providers, manufacturers, and traders. As per the GST regime, it is mandatory to get GST Registration for those businesses whose turnover is more than Rs. 40 Lakhs (Rs. 10 lakhs for hill states and the North-East States). If any businesses in India found without the GST registration, then it will be an offense, and heavy penalties will apply.
There are three components of GST, and you can check the same from below:
Central Goods and Service Tax: This is proposed by the Central Government of India and the State and Central Government agree to combine their tax collections and share the revenue equally.
State Goods and Services Tax: The State Government imposes this. It is one of the components of GST, and the State Government collects it on intra-state supplies.
Integrated Goods and Services Tax (IGST): This is done by the State Government and Central Government together but the tax collected by the Central Government.
Eligibility Criteria for New GST Registration
Before the GST registration process, you should be aware of all the eligibility criteria for GST Registration. Below is the list of eligibility criteria for GST registration.
Business having a turnover of INR 40 lakhs and INR 20 Lakhs for special category North Eastern states (Jammu and Kashmir, Uttarakhand, and Himachal Pradesh).
Individuals who are registered under pre-GST law like (Excise, Service Tax, VAT and so on).
Individuals who pay taxes under the Reverse Charge Mechanism.
Those who supply through an e-commerce aggregator are eligible for registration.
Agents of Supplier and Input Service Distributor.
Taxable and Non-Resident Taxable Person.
Business having multiple branches in different states should register one branch as the main head office and remaining branches as additional or other offices.
What are the essential documents required for GST Registration?
For Proprietorship:
Individuals should have Id Proof such as PAN Card or Aadhar Card, any address proof of proprietor.
Address proof of the office
Copy of water bill, electricity bill or landline bill in case of own office and for rented office you have to submit rent agreement and NOC from the owner.
For Private Limited Company/One Person Company/Public Limited Company:
Registration Certificate.
PAN Card of the Company.
Memorandum of Association/Articles of Association.
Pan Card, Aadhar Card and the passport size of all the Directors.
Bank Account Details such as bank statements or canceled cheque.
Address proof of Company.
Submit a copy of the latest electricity bill or water bill or landline bill in case of own office, and for rented office, you have to submit rent agreement and NOC from the owner.
Letter of Authorization.
For Society or Trust:
Pan Card of Society or Trust.
Registration Certificate and address proof of business.
Photo and Pan Card of the partners.
Bank Statement or cancelled cheque.
Submit a copy of the latest electricity bill or water bill or landline bill in case of own office, and for rented office, you have to submit rent agreement and NOC from the owner.
Letter of Authorization.
For Partnership:
Aadhar card, PAN card and a photograph of all the partners.
Submit a cancelled cheque or bank statement.
Submit a copy of the latest electricity bill or water bill or landline bill in case of own office, and for rented office, you have to submit rent agreement and NOC from the owner.
In the case of LLP Registration Certificate, Letter of Authorization, and Copy of Board Resolution.
Address proof of the place of business.
What is the online process of GST Registration in India?
Before the GST registration, you must have all the documents as mentioned above in this article, without any of the document, you are not able to complete the registration process. Following is the step by step process of online GST Registration:
Step 1: Go to the website of the GST registration, i.e.
Step 2: Click on the ‘Register Now’ button under the Taxpayers section.
Step 3: Then Select 'New Registration' and fill the New Registration Form, as shown in the image below. Then enter the OTP, and the OTP will be sent to your registered email id and mobile number. Before click on the 'Proceed' button, check all the details carefully that you have been entered in the registration form.
Step 4 : After this, you will be shown the Temporary Reference Number (TNR) on your screen. Note the TRN for further process.
Step 5: After this, against visit the GST Portal and click on the 'Register' button. Select TRN and click on ‘Proceed’.Before proceeding you will receive an OTP on email Id and registered mobile number. Enter the OTP and proceed.
Step 6: Then, the status of the application will be available on the next page.
Step 7: Visit the 'Verification' page and check the declaration. Then use one of the methods mentioned below to apply.
By Electronic Verification Code (EVC)
By e-Sign method
In case of companies are registering, use Digital Signature Certificate (DSC) to submit the form.
Step 8: Once the application process completed, the Application Reference Number (ARN) will be sent to the registered mobile number.
Step 9: You can also check the status regularly on the GST portal.
How to pay GST Online?
Following are the steps of GST Payment Online:
Step 1: Login into the GST Portal
Go to the online portal of GST and enter your username & password, enter the CAPTCHA and click on the login button.
Step 2: Create a Challan
After login, select the "Services" button and in Services section select payment section and click on "Create Challan" button.
Step 3: Input Your GSTIN
To create challan, you have to provide the following details:
Enter the amount to be paid and select the payment options such as online payment, NEFT/RTGS, and over the counter, there is a limit of Rs. 10,000/- per challan.
After providing all the details, then click on “Generate Challan” button.
Step 4: Make Online Payment (through NEFT/RTGS or Net Banking)
After clicking the "Generate Challan" button, then you have to follow the following step for the payment:
Select “Mode of Payment”.
Then select one of the options (Online Payment, NEFT/RTGS, over the counter).
After that, click on "Make Payment" button.
Step 5: For Offline Payment:
You can also pay the GST through offline payment; for this, you have to follow the steps mentioned below:
First, take a printout of the challan and pay directly in the bank.
Once the payment process is done, you will receive the challan along with the details of the tax paid.
Then, tax paid challan with CIN (Challan Identification Number) will be credited to your account.
Conclusion
The evolution of GST registration in India will bring the corruption-free tax, removing the shortcomings in indirect tax structure will help in boosting the country’s economy. It is mandatory to get GST Registration for those businesses whose turnover is more than Rs. 40 Lakhs (Rs. 10 lakhs for hill states and the North-East States).
Comments