GST Registration

What is GST

GST or the Goods and Service Tax. This is an indirect tax which has been introduced on 1st July 2017. This tax system is now practiced throughout India. This system replaces multiple cascading taxation systems in India. This is a tax system brought into force by the government of India.

In an organization or a business firm, if the annual turnover is getting above the level of twenty lakhs  (20 lakhs), then the dealer owning the business has to get his/her business registered for Goods and Service Tax (GST). In special cases, or special tastes, the firm which is earning a turnover of more than INR 10 lakh per year should definitely get his business registered for GST.

Step-by-Step Processes for GST Registration:

Although GST has been introduced in the country, not all are familiar with the process of registering for GST (Goods and Service Tax). So here are the steps which will guide in registering for GST:

 1: Go to the GST portal and then there will be an option “Register Now” under Taxpayers (Normal). The person has to click there as the first step.

2: Then we will have to select the “New Registration”. A drop-down will be appearing on the screen and there will have to select the option “Taxpayer”. One can select his own state as well as district from the drop-down menu that is present on the screen. The owner of the business then has to enter the name of the business and then the PAN of the business as well. The email address and the mobile number has to be entered and the mobile number will receive a One Time Password which has a validity of only five minutes. The after all of these are done, the “Proceed” option has to be clicked.

3: The OTP has to be entered which has been received by the entered mobile number and then click on “Continue”. If the person fails to receive the OTP then he/she has to click “Resend OTP”.

4: Then there will be a Temporary Reference Number (TRN) which will be received by the person registering. The Temporary Reference Number (TRN) has to be noted down as it is received by the registered mobile number or email id.

5: Then once again the GST portal has to be clicked and then the Register now as well.

6: The Temporary Reference Number has to be selected and then the Temporary Reference Number (TRN) has to be entered along with the captcha code. After all, these have been done, one has to click on the “Proceed” option.

7: Again there will come the One Time Password (OTP) which will be received by the received by the registered email or phone number which was entered initially. The OTP has to be entered and clicked on to “Proceed”. Then the status of the application will be shown as drafts and then the “Edit” icon has to be clicked on.

8: Then comes the part B  which has 10 sections. The details have to be filled in the documents and then submitted. The list of documents needed are:

  1. Details of the bank account
  2. Constitution of the one who is paying tax
  3. Authorization form
  4. Proof for the area or place of business
  5. Photographs

9: Once all the details are filled into the document there will be a “Verification” page. The application has to be submitted by using any of the stated methods:

  1. Companies must submit application using DSC
  2. Using e-Sign or using EVC.

10: A message will be sent to the registered mobile number or email if the registration is successful.

For being on the safer side, it is better to file an income tax return today for all the business that is being carried out.