All persons and companies supplying goods or services in India must register for GST. When the total value of a supply surpasses Rs.20 lakh, GST registration is required. To make tax reporting easier, the Ministry of Finance (MoF) simplified the GST Registration Process.
If the worth of the business surpasses Rs.10 lakh per year in a special category state, Online GST Registration is required. Let’s take a look at who qualifies for Online GST Registration in this article. The post includes discusses the required paperwork as well as the online GST Registration Process.
Who is eligible for GST Registration Process?
People and businesses must register for GST in the following ways:
- People who registered for tax services before the implementation of the GST law.
- Taxable Person Who Isn’t a Resident and Taxable Person Who Isn’t a Resident.
- People who pay taxes via the reverse charge system
- All and every e-commerce aggregator.
- Organizations with a turnover of more than Rs.40 lakh. The company’s turnover in Uttarakhand, Himachal Pradesh, Jammu & Kashmir, and the Northeastern states should surpass Rs.10 lakh.
- People who supply things via an e-commerce aggregator as input service distributors and agents of a supplier.
- Individuals giving data access and information online from outside India to persons who live in India other than those who are recorded, taxable persons.
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GST Registration Process: Steps to be followed
The steps that taxpayers must follow to complete GST Registration is as follows:
- At first, you have to visit the GST portal – https://www.gst.gov.in.
- After that click on the ‘Register Now’ link that needs to be found under the ‘Taxpayers’ tab.
- Then Choose ‘New Registration’. Fill in the below-mentioned details like Following the ‘I am a’ drop-down menu, select ‘Taxpayer’. Then mention details state and district, name of business, Email ID, etc.
- After that on the next webpage fill in the OTP got on your email. Then click on ‘Proceed’.
- After that, you will be displayed the Temporary Reference Number (TRN) on the screen. Make a note of the TRN. Then visit the GST portal again and tap on ‘Register’ under the ‘Taxpayers’ menu.
- Choose TRN Number and mention it with captcha details. Again click on proceed then again you will get OTP on your mail mention. Enter it and proceed.
- After that on another page, you’ll find the status of your GST application. There’ll be an Edit icon on the right-hand side; tap it.
- On the following page, there will be ten sections. All pertinent information must be entered, and all required documents must be submitted.
- A success message will appear on the screen once the task is completed. The Application Reference Number (ARN) will be given to the mobile number and email address provided during registration.
- Then you can monitor the status of the ARN on the GST portal.
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Frequently Asked question
Can I do business without GST?
Yes, but in some conditions GST registration is mandatory. Any company with a revenue of higher than Rs 40 lakh in a fiscal year, though, must register for GST. For service providers, the highest turnover should be is Rs 20 lakh. Several small businesses, particularly start-ups in India, have profited from the expanded GST threshold.
What are the documents required for the GST number?
The documents required are as follows:
- Taxpayers ID proof like PAN card and Aadhaar card
- Proof of a business address.
- A bank statement and a cancelled check.
- The business registration proof or certificate of incorporation.
- DSC signatures of all partners and directors.
- Authorized Signatory’s letter of authorization or Board Resolution.
What is the time limit for taking registration under GST?
Within 30 days of becoming liable to get GST registration, you must apply for GST registration. When an entity’s aggregated turnover exceeds a certain threshold, it begins doing business in interstate supplies or engages in e-commerce transactions, the individual must register for GST.
Who are exempt from GST registration?
The Online GST Registration is not required for businesses having annual revenue of less than Rs. 20 lakh.
Who is eligible for GST registration?
Businesses with a turnover of more than Rs. 40 lakhs* (Rs. 10 lakhs for NE and hill states) must register as a typical taxable person under the GST regime.
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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.