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GST REGISTRATION PROCEDURE

Goods & Service Tax is a new taxation system in India which came into effect from July 1, 2017. GST has replaced many Indirect Taxes in India. GST is the sole indirect tax for the entire country which is based on consumption of goods and services. The rules and regulations, tax rates are governed by the Goods and Service Tax Council which consists of the finance ministers of Centre and all the states. Goods & Service Tax rates vary from 0% - 28% depending on the type of service or Nature of Goods Your business is selling. The new GST registration process in India should be followed for GST registration procedure. The help of professionals can be taken for GST services.

WHICH OF THE EXISTING TAXES ARE TO BE SUBSUMED UNDER GOODS AND SERVICE TAX AFTER GETTING THE ONLINE GST REGISTRATION CERTIFICATE IN INDIA?

State VAT

Central Sales Tax

Taxes on advertisements

Taxes on lotteries, betting, and gambling

State Surcharges and cess

Entertainment and Amusement Tax

Service TaxT

Entry Tax

State Surcharges and cess

WHAT TYPE OF GOODS AND SERVICE TAX IS TO BE IMPLEMENTED?

It would be a dual Goods & Service Tax with the Centre and States simultaneously levying it on a common tax base. The GOODS AND SERVICE TAX to be levied by the Centre on the intra-State supply of goods and/or services would be called the Central Goods & Service Tax (CGST) and that to be levied by the States would be called the State Goods and Service Tax (SGST). Similarly, Integrated Goods & Service Tax (IGST) will be levied and administered by Centre on every inter-state supply of goods and services once the GST registration procedure is implemented.

WHO NEEDS TO REGISTER FOR GST / GOODS & SERVICE TAX REGISTRATION NUMBER?

For that Business who is having Annual Turnover More than 20 Lakhs Per Annum (10 Lakh for the North Eastern States)

For those businesses which is in More than One State

For Business having Previous registration Under VAT, Excise Laws, Service Tax Laws

E-commerce business

Providers of Services and Goods outside India

GST Registration Online India

Documents Required for GST Registration

FOR Proprietorship Firm Registration

  • PAN card of the owner
  • Aadhar card of the owner
  • Photograph of the owner
  • Electricity bill of the premises
  • Letter of Authorisation for signatory
  • Bank statement/ Cancelled Cheque
  • Aadhaar Card of owners/ directors/ partners
GST Registration Online India

Documents Required for GST Registration

FOR PARTNERSHIP/ PRIVATE LIMITED COMPANY

  • PAN card of the company/ partnership
  • PAN card of the Director/ partner
  • Aadhar card of the Director/ partner
  • Photograph of the Director/ partner
  • Electricity bill of the premises
  • Partnership Deed/ Certificate of Incorporation
  • Letter of Authorization

WHAT IS THE GST REGISTRATION PROCEDURE?

GST registration process will be online through portal support by Central Government of India. You can also register for GST with the help of GSPs (GST Suvidha Providers) appointed by Government to help businesses with the registration process.

HOW TO GET THE ONLINE GST REGISTRATION CERTIFICATE IN INDIA

The GST Registration Procedure as Follows :

According to new online GST registration procedure in India, the applicant has to apply online for GST registration certificate in India in which applicant take help of professional providing GST services by paying appropriate GST registration fees. The applicant will need to submit his PAN, mobile number and email address in Part a of Form Goods and Service Tax REG–01 on the GSTN portal or through Facilitation center (notified by the board or commissioner). The PAN is verified on the Goods and Service Tax Portal along with the Mobile number and E-mail address to be verified with a one-time password (OTP). Once the verification is complete, the applicant will receive an application reference number (ARN) on the registered mobile number and via E-mail. An acknowledgment should be issued to the applicant in FORM Goods & Service Tax REG-02 electronically. Applicant needs to fill Part- B of Form Goods and Service Tax REG-01 and specify the application reference number. Then finally submit the form with the relevant documents to register for GST. If additional information is required, Form Goods and Service Tax REG-03 will be issued. Applicant needs to respond in Form Goods & Service Tax REG-04 with required information within 7 working days from the date of receipt of Form Goods & Service Tax REG-03. If you have provided all required information via Form Goods & Service Tax REG-01 or Form Goods & Service Tax REG-04, the registration certificate (GST REG –06) will be issued to the applicant for the principal place of business and for every additional place of business. If the details submitted are not satisfactory, the registration application is rejected using Form Goods & Service Tax REG-05.

The whole GST registration procedure takes around 7-8 working days.

GST REGISTRATION FEES

The GST registration fees & pricing for the Online GOODS & SERVICE TAX Registration differs in accordance with the GST services of professional.

All registered businesses have to file monthly, quarterly and/or annual Goods & Service Tax Returns based on the type of business. There are various returns required to be filed by special cases such as composition dealers. The prices of GST registration fees can be compared on CAONWEB as it is providing a list of many professional providing the GST services and also helping in online GST registration certificate in India by following new GST registration process in India.

What is GOODS and SERVICE TAX Return?

A return is a final document containing complete details of income which is required to file with the tax administrative authorities. The significance of the return is to calculate the tax liability of the taxpayer.

How to complete GST Return filing?

Under Goods & Service Tax a registered dealer has to file Goods & Service Tax returns that include

Purchases
Sales
Output GST (On sales)
Input tax credit (GST paid on purchases)
GST returns, GST complete sales and purchase invoices are required.

Late Fees for Not Completing Filing of GST Return on Time

If GST filing is not done within time, you will be liable to pay interest and a late fee. The GST return can be filed timely with the help of chartered accountant or company secretary who is providing GST services. Interest is 18% per annum which has to be calculated on the amount of outstanding tax to be paid. The time limit filing of GST return will be from the next day of filing to the date of payment. The maximum amount of late fees is 5000/- for GST filing.

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Frequently Asked Questions

No. A person without following GST registration procedure can neither collect Goods & Service Tax from his customers nor claim any input tax credit of Goods & Service Tax paid by him.

Any person who wants to register for GST should take an online GST registration certificate in India, within thirty days from the date on which he becomes liable to registration, in such manner as may be prescribed.

Yes, any Registration granted under this Act may be rejected by the Proper Officer..

The goods and service tax you pay on input goods/services can be used as an Input Tax Credit (ITC) against output tax liabilities.

Reverse charge implies to settle government obligation is on the beneficiary of supply of goods and services rather than the provider of such products or administrations related to informed classifications of supply.

No, a person without following the GST registration procedure cannot claim ITC. He should register for GST in accordance to new GST registration process in India.