Feb 5

How to do GST Registartion

Team Antworks

The Goods and Service Tax Bill was affirmed by Narendra Modi, the Prime Minister of India, with an end goal to supplant all state or focal government-forced backhanded assessments. Accordingly, it is presently necessary for elements taking part in the supply of products and ventures crosswise over states to do GST enlistment on the web.

The GST bill was as of late go by the Lok Sabha on March 30th and it is going to straightforwardly influence everybody in the nation. All in all, what is GST? GST remains for Goods and Services Tax. It will be forced by the state and local governments and will subsume a large portion of the aberrant charges, for example, VAT, Service Tax, and so forth.

Any individual who has a legitimate PAN is enrolled under the present Income Tax Law and crosses the turnover GST farthest point can enlist for GST. Individuals who need to pay TDS, easygoing brokers, and so forth., need to enroll for GST. Existing evaluates need to get their temporary ID and secret key for GST entrance from their state’s ACES or VAT site. After they login on to the GST entryway, they should make another client ID and secret key.

Mandatory GST Registration Online

All organizations whose turnover is above Rs.20 lakh, or Rs.10 lakh (for North-Eastern states), are relied upon to do GST enrollment as a normal assessable individual. GST online enrollment is likewise obligatory for NRI assessable people, elements taking part in internet business, substances providing products and ventures by means of web-based business administrators, people who are qualified for TDS (Tax deducted at source), elements taking part in the arrangement of online data or recovery administrations or database get to, and so on.

most entities and corporations inside India are required to finish GST registration online. Even entities that aren’t mandated to finish GST online registration can accomplish that on a voluntary foundation as registration enables the entity to gain a criminal reputation as a supplier of goods and/or offerings, thereby permitting the entity to levy GST on clients who avail their items or services. As such, entities that have finished GST registration online may be eligible to avail enter tax credit score.

How to do GST Online Registration

Here is a Step-by-Step Procedure to Complete GST Online Registration

Log on to www.gst.gov.in.
Click on the ‘Services’ tab on the menu at the top of the page.
You will have three options, viz. ‘Registration’, ‘Payments, and ‘User Services’.
Click on ‘Registration’ and select ‘New Registration’.
You will be redirected to a new page wherein you will have to select whether you are a taxpayer or a GST practitioner before entering a few details such as the legal name of the business, the state and district in which the entity is located, Permanent Account Number, email address and mobile number. This is basically Part-A of the form.
The details you have entered will have to be verified by the portal, so you will receive a one-time password or an email for confirmation.
Based on the kind of business you are running, you will be required to upload a few documents as requested.
Part-B of the form will then have to be filled in with a few details after which you will receive the Application Reference Number through email or SMS.
Your application will then be verified by a GST officer and it could either be approved or you will be requested to provide some more details or documents until the authorities have all the required information to approve your application.

Separate registration has to be done for each state if a trader has branches in multiple states. Businesses with more than 1 vertical can register separately for each of them.

As GST has just been introduced, it may take us a while to get used to it and understand it. At present, all assessees have been asked to register for GST and not procedure is in place for people who do not want to register for it. They can choose to cancel their registration after registering though.

Penalties for not Completing GST Online Registration

Offenders who do not pay tax or fail to make the full payment will face a penalty of 10% of the tax amount. The minimum amount of fine will be Rs.10, 000 if the 10% amounts to anything less. In case of deliberate tax evasions, offenders will be charged a penalty of 100% of the tax amount. The penalty will be 10% of the tax due in case of genuine errors.