Everything you need to know about the -: GST Registration in Odisha

If you operate a business in Odisha It's critical to comprehend the GST registration procedure. India has developed the Goods and Services Tax (GST), a value-added tax, to replace many indirect levies. Businesses must register for GST if their yearly revenue exceeds Rs. 40 lakh. GST registration will not only assist in tax return filing, tax collection, and tax submission to the government, but it will also boost corporate credibility and government revenue, both of which contribute to the development of the nation.This page will give you insight into all the required information related to GST Registration in Odisha.

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There are many types of the person or entities that need to take registration in GST are mentioned below:-

• NRI Taxable Person - Regardless of turnover, all non-resident importers and exporters of goods and services must register in India.
• E- Commerce Parties - Anyone who operates or aggregates online commerce, as well as anyone who supplies through one.
• Taxable turnover - Anyone or any entity that has a turnover of Rs. 40 lakhs for products and Rs. 20 lakhs for services must register under the GST system.
• Inter State services and sales - No matter how much supplier turnover if they are involved in the interstate supply of goods and services, they must register for GST.
• Casual Taxpayer -Any company involved in the supply of goods and services at an exhibition or event that does not have a permanent place of business should register. The duration of this registration is 90 days.

In Odisha, registering for GST is a quick, easy process that only requires a few steps. The following list of steps is related to GST registration:

• Step 1 - In GST REG - 01,Filling out Part A is the first step in GST registration. Name, email address, PAN number, and mobile number are entered in Part A of the form. TRN No. is generated after the mobile number and email address have been verified.
• Step 2 - After receiving the TRN No. in Form GST REG 01 PART B information regarding the firm's directors/partners, category of goods and services, and submission of the form results in the generation of an ARN, which must be stored for later use.
• Submission of the documents - The following step involves uploading the documents to the website that are needed for registration according to the taxpayer's category.
• Verification of the documents - The stage of verification by the responsible officer follows the submission of the form and supporting documentation, and it takes 3–4 days to complete. The applicant is given adequate time to provide an explanation in the event that their form is rejected.
• Issuance of the GST No - After acceptance of application form GSTIN is generated and is given in Form GST REG 06.

Various feature of the GST Registration are mention below -

• PAN Card - PAN Card is basic for GST Registration in Odisha.
• Convenient - There are no time, location, or cost restrictions to adhere to because Odisha GST Registration is entirely online, allowing taxpayers to submit their applications whenever and from wherever it is most convenient for them.
• Paperless Transaction - Due to the fact that GST Registration in Odisha is an online process, all forms and papers must be submitted to the GST Department online.
• State wise Registration - Businesses must register according to their presence in various states. For example, if a manufacturer has branches in Delhi, Ghaziabad, and Gurugram, he must register for GST in each of those cities.

The following are some of the many advantages of GST registration in Odisha:

• Procedure are simple and easy - The GST registration process is entirely online, which makes it quick and straightforward. It is simple to complete registration application forms with supporting documentation and submit GST returns.
• Cascading effect of tax is eliminated - One of the primary goals of the GST Registration is to eliminate the cascading effect, or tax on tax, since multiple taxes are consolidated under one roof, lowering the overall tax burden.
• Tax evasion is minimum - Tax evasion has significantly decreased as a result of the application of GST Registration.
• Reduction in compliances - Since the GST has consolidated several taxes under one taxing system, there are now fewer compliance requirements. For instance, taxpayers just need to complete one GST return now rather than multiple ones in the past.
• Taxation Process is uniformed -The uniformity of GST tax procedures has increased industry regulation and accountability.

By getting GST Registration in Odisha, taxpayers get many benefits like increase in the credibility of the business, reduce the cost of the product, taxpayers can take the input tax credit which in turn increases the profit of the business.

To get GST Registration many documents are required to be filled along with documents.