Online GST Registration
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Goods and Service Tax (GST)
Goods and Services Tax(GST) was first launched in 2017. GST is an indirect tax which has replaced many indirect taxes in the country, such as excise duty, VAT, service tax and many more. GST was implemented in several ways, including lowering the cascading effect and developing a centralised filing system. To avert any penalties, Enterslice is here to offer various services.
Documents required for GST Registration:
The following mandatory documents are required for GST registration:
Sole Proprietorship
- PAN Card
- Aadhar Card
- Rent Agreement
Limited Liability Partnership
- PAN card of the Limited Liability Partnership
- LLP Agreement
- Address Proof of the LLP
- Partners Name and all Information
Private Limited Company
- Certificate of Incorporation
- Memorandum of Association and Articles of Association
- PAN Card
- Board Resolution Signed by the Directors
- DIN number
- Digital Signature Certificate
- Registered Address of the Business
- Identity Proof of all the Directors- Voter ID, Aadhaar Card, Bank Account Statement and Driving License.
GST Registration Form
GST Registration - Goods & Service Tax Registration Online
GST, or the Goods and Services Tax, is a value levied by the government, particularly on products sold for domestic and personal consumption. The government collects GST money in exchange for services relating to products for domestic use. With the exception of state taxes, it can encompass all types of taxes.
Eligibility for GST Registration
Below given are the eligibility criteria for GST Registration:
- You will only be able to collect GST on supplies, not sales. Therefore, GST will apply to stock transfers, gifts, and even discounts. You are qualified for online GST registration if your current total supply is over 25 lakh rupees (or 10 lakh if your firm only does business in the North-Eastern states).
- You will be given temporary registration if you currently have a VAT registration, a service tax registration, or a registration under one of the laws that the GST will replace. Within six months of receiving provisional registration, you must submit an application for GST registration.
- You must register for GST Registration if you sell non-taxable goods or work in the export industry. Even software companies, whose exports were previously tax-free, will be subject to this.
- Regardless of turnover, you must register for GST if you are providing products or services to another state.
Understanding GST in Detail:
If you are a business owner, it is important to understand the Goods and Services Tax (GST) in detail. GST is an indirect tax reform that aims to create a unified tax system for the entire country. It is a tax that is levied on the supply of goods and services. The GST Council, comprising the central and state governments, is responsible for finalizing the tax rates and administering the tax system.
One of the key features of GST is the Input Tax Credit. It allows businesses to claim credit for the taxes paid on their purchases, reducing their tax liability. GST has a four-tier tax structure that includes 5%, 12%, 18%, and 28% tax rates. The tax rate applicable to a particular good or service depends on its classification as per the GST Council’s decision. Each business is assigned a unique GST Identification Number (GSTIN), which must be quoted on all tax invoices and returns.
Understanding Input Tax Credit:
The Input Tax Credit (ITC) is one of the most important aspects of GST. It enables businesses to save money by claiming credit for the taxes paid on their purchases. The ITC can be claimed only by registered taxpayers. To claim the ITC, businesses must ensure that their suppliers have uploaded their invoices on the GST portal. The ITC can be claimed only on those goods and services that are used for the furtherance of business.
How can I Track my GST Registration Status?
Tracking your GST registration status is important to ensure that your application has been processed and approved. Here are some steps you can follow:
- Visit the GST portal and select the ‘Services’ option from the main menu.
- Select the ‘Registration’ option and choose ‘Track Application Status’ from the drop-down menu.
- Enter your provisional GSTIN or ARN and the captcha code, then click ‘Search’.
- Your GST registration status will be displayed, including any updates or notifications related to your application.
- If your registration has been approved, you can download your GST certificate from the same page.
- If your registration has been rejected, you will receive a notification with the reason for rejection and the steps you can take to rectify the issue.
It is important to note that the GST registration process can take up to a month to complete, so be patient while waiting for updates. Once your registration has been approved, you can start filing your GST returns and enjoy the benefits of being a GST-compliant business.
FAQ
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A GST number, also known as Goods and Services Tax Identification Number (GSTIN), is a unique identification number assigned to businesses registered under the Goods and Services Tax (GST) system in certain countries. It serves as a crucial identifier for taxation purposes, helping track businesses and ensuring compliance with GST regulations. The GST number facilitates the seamless flow of credits and taxes between businesses by providing a standardized format for identification. It is typically included on invoices, enabling accurate and efficient tax reporting and collection. The specific structure and naming conventions of the GST number may vary between countries implementing the GST system.
A VAT GST number refers to the identification number assigned to businesses registered under both the Value Added Tax (VAT) and Goods and Services Tax (GST) systems in certain countries. It serves as a unique identifier for businesses that are subject to both VAT and GST regulations. This number helps track businesses for tax purposes and ensures compliance with both VAT and GST laws. It facilitates accurate tax reporting and collection, as well as the seamless flow of credits and taxes between businesses. The format and naming conventions of the VAT GST number may vary depending on the specific country and its tax administration system.
The GSTIN (Goods and Services Tax Identification Number) is a unique 15-digit identification number assigned to businesses registered under the Goods and Services Tax (GST) system in India. It serves as a vital identifier for tax purposes, enabling the tracking of businesses and ensuring compliance with GST regulations. The GSTIN contains state code, PAN (Permanent Account Number) of the taxpayer, entity code, check digit, and other components. It is used for various GST-related activities, such as filing tax returns, issuing invoices, claiming input tax credits, and conducting interstate trade. The GSTIN helps streamline the taxation process and promotes transparency in the Indian tax system.
The GST registration process involves submitting an online application form along with necessary documents. The GSTIN is issued after successful verification.
If you are running a business with an annual turnover of more than Rs. 20 lakhs, or Rs. 10 lakhs for northeastern states, then you must register for GST.
No, a PAN card is mandatory for GST registration.
The different GST returns include GSTR-1, GSTR-2, GSTR-3B, etc.
You can file your GST returns online on the GST portal or Apply here
The penalty for late filing of GST returns is Rs. 50 per day for GSTR-3B, and Rs. 200 per day for GSTR-1 and GSTR-5.
You can check your GST registration status on the GST portal using your GSTIN or ARN number.
The GST composition scheme is a scheme for small businesses with an annual turnover of up to Rs. 1.5 crores. Under this scheme, a business can pay tax at a fixed lower rate without input tax credit.
