The Online GST Registration is an indirect tax that aims to eliminate a number of other indirect taxes in India. GST Registration is the procedure for a taxpayer to become GST registered. Once a firm has been formally registered, it is given a unique registration number known as the GSTIN. This is a Fifteen-digit number that the government allots to taxpayers after they register. For Online GST Registration or New GST Number you can take the help of Online Ca services as well.
Benefits of Online GST Registration
The following benefits will accrue to the business if it registers under the Online GST Registration:
- Recognized as a supplier of goods or services under the law.
- Correct accounting of taxes paid on input goods or services that can be used to pay GST owed to the business’s provision of goods or services, or both.
- Allows him to lawfully collect taxes from his clients and credit taxes paid on products or services given to customers or beneficiaries.
New GST Number: What is the registration process for GST in India?
The Online GST Registration process will be completed online through a portal run by the Indian government. GSPs (GST Suvidha Providers) will be appointed by the government to assist businesses with the registration procedure.
According to New GST Number information, the registration procedure is as follows:
- On the New GST Number site or through the Facilitation center, the applicant must supply his PAN, mobile number, and email address in Part A of Form GST REG–01 (notified by the board or commissioner).
- On the GST Portal, the PAN is confirmed. A one-time password is used to verify your phone number and email address (OTP). The applicant will get an application reference number on the registered mobile number and through email once the verification is completed. The applicant should get an electronic acknowledgment in the Form GST REG-02.
- Part B of Form GST REG-01 must be completed by the applicant, together with the application reference number. The form can then be submitted after the appropriate documents have been attached.
- Form GST REG-03 will be supplied if more information is needed. Within 7 working days of receiving Form GST REG-03, an applicant must respond in Form GST REG-04 with the relevant information.
The registration certificate in Form GST REG –06 for the principal place of business as well as each extra place of business will be issued to the applicants if you have provided all necessary information via Form GST REG-01 or Form GST REG-04. For each business vertical, a person with numerous business verticals within a state can file a separate application for registration in Form GST REG-01. The registration application is refused using Form GST REG-05 if the details presented are insufficient. The applicant who is required to deduct TDS or collect TCS must fill out Form GST REG – 07 and submit it for registration. The officer may cancel and notify the cancellation of registration if he is no longer responsible to deduct or collect tax at the source.
For Online GST Registration or New GST Number, you can find Tax consultant near me servcies.
Add FAQ:
Q-What is the limit for GST registration?
If a person’s total revenue reaches Rs. 20 lakh (in ordinary category states) or Rs. 10 lakh (in reserved categories), they must register (for special category states)
Q-Who are exempt from GST registration?
Any individual involved entirely in the supply of products or services or both that are not liable to tax or wholly exempt from tax under this act or the IGST Act, 2017 is not responsible for registration, according to Section 23 (1) (a) of the Central Goods and Services Tax Act, 2017.
Q-What is new rule for GST registration?
An outline of previous limits, new limits, and the effective date:
- For States in the Normal Category, this figure crosses Rs.40 lakh.
- For States in the Special Category, this figure crosses Rs.20 lakh.
Q-How do you calculate GST payable?
To figure out how much GST you owe, first figure out how much you owe for the precise time period for which you paid GST. Remove that amount from your GST payment to the government. The amount you find in excess is the amount you are eligible for a refund.
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Chartered Accountant by profession, CA Sanket Agarwal has an experience of above11 years in Cross Border compliance , Import Export , International Taxation & is a passionate content creator.