GST is abbreviated from Goods and Services Tax which came into existence on 1st July 2018. This tax is an indirect tax levied on the goods and services. GST has replaced several taxes such as VAT(Value Added Tax), Service tax, excise duty, luxury tax etc.
GST registration is necessary for every business person whose annual income exceeds 20 lakh rupees (10 lakh for the North Eastern States). As well as the taxable person who has already registered themselves under previous tax such.
Online GST registration
GST registration can be done by visiting the Online GST registration portal. Here we will understand every detail and things which should be taken care of while registering GST online.
As per the eligibility for GST registration, it is necessary for every taxpayer to register themselves under GST.
The taxpayer already registered under the Pre – GST law have to register themselves under GST when the business annual turnover is exceeding 20 lakhs and it is necessary for a Casual taxable person, Business on E-commerce. Online GST registration process for hilly regions is mandatory and they are eligible only when the annual turnover exceeds 10 lakh rupees.
Benefits of Online GST registration
Removed cascading effects of tax
GST has helped to remove a number of earlier taxes such as VAT (Value Added Tax), Service tax etc. Now onwards, consumers are not confused within various different types of taxes and its compliances and have to focus on one uniform tax.
Introduced Composition Scheme
The government has also introduced a composition scheme for a small business whose annual turnover falls between 20 lakhs to 75 lakhs and this scheme has helped to reduce the burden of GST filing procedure.
Threshold limits increased
Earlier the threshold limit was too high, the business with annual turnover of 5 lakh rupees have to register themselves under VAT(Value Added Tax) and the business with an annual turnover above 10 lakh have to register for Service tax, but now the threshold value exceeded and the limit extended to 20 lakh rupees and 10 lakh for hilly regions(North-Eastern States).
Easy steps to complete GST registration
- Visit the Online GST registration portal.
- You have to click on Register for the taxpayers.
- If its a new registration click on “new registration” available in the drop-down.
- Fill every required detail such as State and District, Name of the business, PAN card number, registered E-mail id, and Contact details, as soon as you fill every detail click on proceed.
- After this you will receive an OTP on the provided contact number, mention the received OTP to continue the GST registration procedure.
- This will help you to receive a TRN, TRN (Temporary reference number) will be provided on the website.
- TRN will be sent on your provided E-mail ID and Contact number as well. Make sure you note down this number as it will be required to complete the further procedure..
- Visit GST portal and click on Register now.
- Enter your TRN (Temporary reference number).
- Enter the CAPTCHA process and Proceed further.
- After entering the TRN, you will receive an OTP on registered Contact number/E-mail ID, enter the same and proceed further.
- The application will be shown in Draft, you can edit it.
- Mention the Business details, documents list such as Passport photographs, Business proof, Bank details, Incorporation form.
- Submit and visit verification page, and submit required documents such as DSC(Digital Signature Certificate).
- The link will submit an OTP on contact number linked on Aadhar Card and with EVC on the reference of provided DSC, the OTP will be sent on the contact number provided on the portal.
- You will be provided with the ARN (Application Reference Number) which will be again sent to your registered Contact number and E-mail ID.
With the help of this ARN number, it will be easy for you to track your GST registration.
The registration process can be completed easily by visiting Online GST Registration Portal. It will provide the hassle free service as well as you can get detailed information for Online GST registration.