Individuals and entities that supply goods and services in India must have GST registration And when the aggregate value of supply exceeds 20,00,000 then GST registration becomes mandatory. GST registration becomes applicable if the value exceeds 10,00,000 per annum if the entity operates in a special category state.
GST registration must be completed by individuals who have registered under the tax services before the GST came into effect, all e-commerce aggregators, individuals who supply goods through eCommerce aggregator, input service distributors and agents of a supplier, individuals who pay tax under the reverse charge mechanism, non-resident taxable person and casual taxable person.
Service Providers whose service value is more than 20,00,000 aggregate in a year and an entity who exclusively Lee supply goods and have aggregate turnover over 40,00,000 is required to obtain GST registration, and if they fall under special category states the limit will be 10,00,000.
In case an entity is supplying goods Interstate they must have GST registration. In case the annual turnover exceeds 20,00,000 and, ?10,00,000 in special category states then the Interstate service providers must obtain GST registration.
Normal taxpayer, composition taxpayer, casual taxpayer, and nonresident taxable person are types of GST registration. Normal taxpayers don't have an expiry date and most businesses in India fall under this category. Those who set up seasonal shops or stalls are the individuals who Should register under casual taxable person. a casual taxable person has to pay a deposit equal to the amount of GST liability and the registration remains active for 3 months. The composition taxpayer has to enroll under the GST composition scheme and can pay a flat GST rate but they are not allowed to claim the input tax credit. Nonresident taxable persons are individuals located outside Of India But they supply goods to people who stay in India, they have to Register as non-resident taxable persons. Non-resident taxable person and casual taxable person have to pay the deposit that impulse to the amount of GST liability and their registration remains active for 3 months.
To complete GST registration one must have a PAN card, Aadhar card, bank account statement and canceled checked, business address proof, directors ID proof, directors address proof, directors photograph, digital signature, incorporation certificate or business registration crew, business address proof, letter of authorization, or board resolution from the authorized signatory.
To register one must go to the GST portal, and select the option new registration, the applicant must file an application using the TRN number. He has to select taxpayer type, state, district, enter the legal name of the entity, enter the permanent account number, fill in the details as mentioned in your permanent account number, enter your email address and proceed for further steps. The applicant will be required to verify the one-time password which will be applicable for 10 minutes and after that TRN will be generated which will be used to complete and submit the GST registration application. The applicant must log in with TRN enter a captcha and verify the one time password on mobile and email
The applicant will be required to submit business information for obtaining GST registration. The applicant must fill in the details such as trade name field, the constitution of business, district and sector, Commissionerate code common division code etcetera. Then the applicant will be asked to submit the promoter's information. Authorized signatory information will be required and the signatory is a nominated person who will be responsible for filing GST returns of the company. The applicant later has to provide the details of the principal place of business and has to submit details such as the address of the principal place, official contact, nature of possession of the premises. If the applicant has an additional place of business he must submit the details regarding it. The taxpayer must provide details of services and goods and should provide HSN code for supplied goods and SAC code for services provided. The applicant then must enter the number of bank accounts and provide the details of the bank account like IFSC code and type of account and upload a copy of the bank statement.
After filling in all these details the applicant will be required to verify the application once the verification is done our end number will be generated and through this the status of the application Can be tracked.
This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.
