Many people find it hard to complete the online GST registration process. Knowing the proper method might make the process much easier. If you want to apply for GST, read this post to find the answers to all your GST registration questions.
What is GST?
GST is an indirect charge that has taken the place of many taxes in India, including excise duty, services tax, and VAT. The Parliament enacted the GST Act on March 29, 2017. It became effective on July 1, 2017.
What is Online GST Registration?
GST registration is the process by which a payer registers for the Goods and Services Tax (GST).
After completing the registration process, you will get the Goods and Services Tax Identification Number (GSTIN). The Central Government hands over a 15-digit GSTIN number. It helps determine if a firm is required to pay GST.
If a company’s revenue exceeds Rs. 40 lakhs, it must register as a basic taxable entity.Anyone applying for GST can do so via the online GST site.
For registration, you must submit a form and provide the required papers. It is necessary to complete the GST registration online process. If you do not, you may be fined.
Who is Eligible for GST Registration Online?
People and firms must apply for GST if they meet the criteria given below:
- People who used tax services before the enactment of the GST law.
- Taxation of Non-Residents and Temporary Residents
- People that pay taxes through the reverse charge system.
- Every e-commerce individual.
- Firms with an annual amount of more than Rs. 40 lakhs. The firm should have a revenue of more than Rs. 10 lakhs in Himachal Pradesh, Uttarakhand, Jammu and Kashmir, and the North-Eastern states.
- Supplier agents and input service providers.
- People that provide access to databases and information online. They give data to people living in India who are not registered taxable persons from outside India.
Facts About GST Registration Online
Let’s go through some of the most crucial aspects of GST registration online:
- The GST registration online process is free of charge. A 10% penalty, or Rs. 10,000, will be charged if a firm fails to register online. In the case of tax theft, the penalty will be 100% of the amount owed.
- A firm with annual revenue of Rs. 40 lakhs or more requires GST registration.
- If you make a supply in more than one state, you must register for GST.
Online GST Registration Process
Step 1: Create the GST Application Form
To begin with, go to the official GST portal. Select Services, Registration, and New Registration from the Services menu.
On the registration page, you will need to enter your PAN number, email address, and mobile number. The person must choose the option “I am a taxpaying citizen”.
After filling out the form, click the “Proceed” button. Following that, they will receive two distinct OTPs on their registered phone and email address for verification. The OTP is only valid for 10 minutes. Enter the received OTP and click “Continue.”
Step 2: Filling Out the GST Application Form Online
Now, on the top right, click the action button to fill out the GST application form.
Enter the firm’s details. Under “Trade” put the name of the firm and its type (private limited or partnership).
After finishing the registration, click “Save” and go to the next step.
Enter your basic personal and identity details. Add the designation to the identifying information under the title.
After filling in all the information, the person must submit their photo, which has to be in jpeg format and no larger than 100 KB.
The form has many sections, which are listed below:
- Authorized Signatory
If the person is the firm’s sole owner, select the primary authorized signatory and continue. If the person is not the firm’s sole owner, they must enter the information for the firm’s sole owner.
- Principal Place of Firm
The person must enter the location of their firm here. The individual must also include the type of firm they represent in this section.The person must also include the type of firm they represent. Add the firm’s style and provide proof of the firm’s location.
Click on “Save” to continue.
- Additional Firm Locations
If the person has multiple outlets, they can add those or click continue to proceed.
- Products & Services
The person must say whether they are trading goods or services here if they sell physical items, including the HSN code.
- Specific State Information
It is totally up to the person to provide this information. Continue by clicking the save button.
Step 3: Final Check
This is the last step of the GST form. Once the person fills out the form, they may submit it with Electronic Verification Code (EVC) or Digital Signature Certificate (DVC). DVC accepts digital signatures. If the person chooses EVC, they will get the same OTP on their mobile number and email address.
When finished, you will receive your Application Reference Number (ARN). The person can use this to track the status of their application (Services > Registration > Track Application).
GST Registration Through Aadhaar Authentication
New firms can get GST registration with the help of Aadhaar cards. The process is simple and quick. The new process came into effect on 21st August 2020.
- When registering for GST, the person will be given the option of using Aadhaar authentication. Below is the method for opting for Aadhaar authentication:
- Choose ‘YES.’ The authentication link would be emailed or texted to the registered email address and mobile number.
- Select the authentication link.
- Enter the Aadhaar number and click ‘Validate.’
- You will receive an OTP at the given phone number and email address after the date is verified.
- To finish the process, enter the OTP. Within three working days, the person will receive their new GST registration.
GSTN is a number that appears on all invoices sent to the tax credit input system. It helps people get an input tax credit, register their firms, and improve their firm standing. People can obtain the certificate of registration from the official website once they have applied.
If you need more guidance and assistance with filing for GST registration online, visit Piramal Finance. This online platform is what you need to learn everything about relevant developments in the world of finance. For more information on financial matters or about personal loans, credit cards, and financial management, check out more blogs on their website!