GST Registration online :- All you need to know

Business identification for tax purposes or any other compliance, which is done by registering the Taxpayer, is one of the essential necessities of any tax system. GST Online registration accomplishes the same goal of identifying the firm. Businesses that register for GST are given special identification numbers, or GSTINs.

GST Registration Online aids in obtaining input tax credits for one's inbound supplies as well as tax collection on behalf of the government. Without registration, the business is unable to recoup taxes already paid or claimed as credits, nor can it charge customers for taxes.

The eligibility of a person is crucial for the smooth and successful operation of the GST systems. Below are various eligibility requirements:

Under the Good and Services Act of 2017, businesses in the hills station and north east must have a combined annual revenue of no more than 40 lakhs for products, 20 lakhs for services, and 10 lakhs for suppliers of commodities.

• Aggregators for all online stores
• Non-resident taxable person
• Distributor of the input service and any person acting in that capacity on behalf of the provider
• Person making a tax payment or who is subject to a reverse charges procedure.
• Any company that was registered under the Pre-GST Law (such as VAT, Excise, Service Tax, etc.)
• No matter the turnover, anyone can engage in interstate supply of taxable products and services.
• Individuals subject to section 37 tax
• Instead of a registered taxable person, any individual database access or retrieval services and online information to a person in India from a location outside India.
• Any person or group of persons that the federal or state governments have recommended the GST council notify.

Non-Resident taxable person - Non-Resident Taxable Persons are people who are not residents of India but who are able to supply products and services either directly or through agents, among other roles. They can only do this after registering and paying a fee equal to the GST. Online registration is valid for three months but can be extended.

Voluntary GST registration - Getting registered for GST on a voluntary basis is known as voluntary registration. Businesses who voluntarily register can issue tax invoices to customers, enabling them to claim invoice credit, raise their profit and business margin as a result of being able to claim the tax credit, and improve their ability to rent space and obtain bank loans. Within a year, voluntary GST registration may be hidden at any moment.

Composition Registration - Businesses with annual sales below $1.5 billion are eligible to participate in this programme. A predetermined rate of interest is applied on the turnover under this Registration. This is a straightforward strategy that eases the burden of the registration process.

Casual Taxable person - The taxpayer opening a temporary store or booth is registered under this registration. This registration pays a tax payment equivalent to the GST Liability matching the active registration periods and is valid for three months.

Compulsory Registration - For some businesses, such as e-commerce sellers, e-commerce operators, and interstate sales of taxable items, GST is required regardless of turnover.

Depending on their legal structure or the sort of GST registration they want, businesses need a distinct set of documentation. Depending on the business's constitution and kind of registration, there are various options.

Documents required for Company for GST registration online

• PAN Card of directors
• Company PAN Card
• Memorandum or Article of Association
• The Ministry of Corporate Affair incorporation certificate
• Bank Detail
• Aadhaar Card of Signatory
• Appointment proof of the signatory
• Address proof of the Business principle
• Address of all the directors

Documents for sole proprietor

• Bank account detail
• PAN Card
• Proof of Address
• Photograph
• Adhar Card

Hindu Undivided Family Documents

• Bank detail
• Address proof of Business principle
• HUF PAN Card
• Karta’s PAN Card
• Owner photograph

Document of Society or club for GST Registration online

• Authorised letter signed by the signatory/authorised signatory.
• Photograph of partners and promoters
• A copy of society or club registration certificate
• A copy of the passbook's first page/crossed cheque/bank account statement.

Partnership’s firm Documents

• Bank account details
• Copy of partnership deedPhotograph of partners and promoters
• Photograph of all partners and authorised signatories (in JPEG format, maximum size – 100 KB)
• Address proof of principal place of business
• Aadhar card of authorised signatory
• Address proof of partners (Passport, driving licence, Voters identity card, Aadhar card etc.)
• PAN card of all partners (including managing partner and authorized signatory)
• Proof of appointment of authorized signatory

The cost of GST registration is just ₹1499/- only with Professional Utilities.

Following are the charges of GST registration for different types of Companies

• Hindu undivided family ( HUF)
• Individual and sole proprietors
• LLP and partnership
• Pvt. Ltd and other companies

Note: The aformentioned Fees is exclusive of GST.

The qualifying parties must undertake a number of procedures in the GST registration process in order to register themselves under the GST Act.

Filling an application - filling out the GST Act registration form and creating a TRN No. PAN No., email address, and place of registration are put in GST REG-01 and are validated in this mobile number.

Submission of Documents - All documents must be filled out, properly signed, and validated with a digital signature in part-B of the REG-01.

Application acknowledgement - All submitted documents are electronically recognised in Form GST REG-02.

Verification and approval of GST application - Processing takes 7 to 10 days at this step, during which the officer verifies the forms and documents submitted.

The form GST REG-03 specifies any deficiencies and requests more information or documents, which will result in the issuance of a show-cause notice.

Within seven days of receiving the notice, the applicant must electronically submit the declaration and information on form REG-04.

In Form GST REG-05, the application is rejected electronically if no reason is provided within 7 days and the officer is unsatisfied with the explanation.

Issuance of GST certificate - Following Form GST REG-06 verification, a certificate of registration will be given, and applicants will receive a Goods and Services Tax Identification Number (GSTIN). The officer required by the Act will use an electronic certification code to verify and sign the registration certificate.

The certificate of GST registration is valid until it is revoked or returned. If a casual dealer registers, their GST registration is valid for up to 90 days and can be renewed and extended.

Business have to register on below mentioned dates -

• For Business - Within 30 days from date a person becomes liable to get registered.
• For Non Resident Taxable persons and casual dealers - 5 days before starting of business
• Transfer of going concern business - register on the date of transfer.

With the introduction of the GST, many businesses saw development and prosperity. The following benefits of GST registration are just a few.

• Compliances are low - Businesses who register for GST will have fewer compliance requirements to meet than under the previous tax system.
• Double Taxation - By registering for GST as required by the government, businesses are protected against double taxes.
• Revenue of the government increases - The government's chances of generating revenue improve.
• Recognition in the eyes of the law - Businesses that are GST-registered are officially recognised as suppliers of the commodities by the government and the general public.
• Logistics Improve - The implementation of the GST has facilitated the free movement of commodities across states, and warehouses are only located in significant cities.
• Straightforward - Today, it's relatively simple to register for GST online, which helps startups avoid moving from one location to another.
• Tax Evasion is reduced - GST returns will only be filled out when they are accurate. Along with lowering tax avoidance, it will be advantageous to the service provider.

Any Entity that registers for more than the allowed amount of GST becomes obligated by law or subject to taxation for doing so, according to the GST Act. Without a GST registration, conducting business is illegal and carries severe penalties.

A person is subject to a fine of $10,000 or 100% of the unpaid tax, whichever is greater.

The Goods and Services regime was put into place in India to provide effective tax structures and processes. Value-added tax, luxury tax, service tax, entry tax, and octroi were all combined into one tax. Even if you are not eligible, there are advantages to applying for GST online. Register for GST online to take advantage of its many advantages.