GST REGISTRATION

ALL YOU SHOULD KNOW ABOUT GST REGISTRATION

Nowadays we have information pouring form everywhere regarding the process, requirement, need, eligibility for GST Registration. We at CAONWEB have compiled all the important questions that arise while doing the GST Registration.

  • How do I apply for a GST number?

1.    The GST registration procedure is as follows:

2.    The whole process is online, one needs to go to the GST Login Portal

3.    Fill up the Part-A form and provide the required details such as PAN, mobile number and email address.

4.    The portal would send the OTP to verify the mobile number and email id.

5.    Once verified, a Temporary Reference Number (TRN) will be generated and sent on both the e-mail and mobile.

6.    Next Step is to fill Part-B of the GST registration form also attach the required documents using the received TRN after submitting the same the GST officer would verify the application and approve it within the stipulated time period.

7.    In case the GST officer does not approve the application and asks for more documents in support of claims made in the application, one needs to provide the required documents within seven working days.

8.    Once approved, the GST registration certificate will received on the registered email id.

Read more blog: 37th GST Council meeting: After restructuring Corporate tax structure now a big relief for GST Taxpayers.

  • What are the documents required for new GST registration?

A) Details Required – 

  •  Business Name
  • Email Id & Mobile Number of Proprietor/Authorized Signatory on which OTP will be sent by the Department.

B) Documents Required – 

9.    Photograph of Proprietor/Directors/Partners

10. PAN Card of Proprietor/Directors/Partners

11. Aadhar Card/Voter Id/Passport/ DL of Proprietor/Directors/Partners

12. Bank Statement of the Company/Partnership/firm

13.List of 5 Main Goods/ Product /Services

14.Utility bill -Electricity Bill/ Property Tax Receipt

15.Rent Agreement-If rented property

16.NOC of Principal Place of Business from the owner- If owned property  

17. Proof of Additional Place of Business, if any 

Read other blog: Impact of GST on Export of Goods and Services

  • Is GST registration free?

 There is no government fee, but there is professional fee involved for the GST registration procedure.

  • When GST registration is mandatory?

-Individuals registered under the previous tax regime (i.e., Excise, VAT, Service Tax etc.)

-You have an annual turnover limit above Rs.40 lakh for your intrastate business

-for business having an annual turnover of Rupees Ten Lakh located in any of the listed special states such as Assam, Jammu & Kashmir, Himachal Pradesh, etc.

-If you own an e-commerce business

-Persons making inter-state supply of goods

-If tax has been paid through reverse charge

-Non-resident liable to pay tax

Related Blog – INCOME TAX EXEMPTIONS/DEDUCTIONS

  • How much does it cost for GST registration?

GST registration is a tedious process. We provide the GST registration at competitive prices alongwith other CA services.

  • Is NOC required for GST registration?

Yes, NOC is a No Objection Certificate which needs to be signed by the owner of the property giving permission to use their address for GST registration procedure

  • Can I do GST registration myself?

It is advisable to take help from an expert as new GST registration requires specific HSN codes relating to the business, various important details, supporting documents, appropriate resolution if any query is raised by the department.

  • What is GSTIN?

GSTIN is an abbreviation for Goods and Service Tax Identification Number. It consists of 15 alphanumeric digits. It is generated once the whole GST procedure is completed.

Related Blog – Advantages of GST

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