The GSTIN, or GST identification number, is a 15-digit PAN-based number given to everyone who registers for GST. As a result, in order to receive this number, you must first register for GST.
A single person may have many GSTINs. When the applicant achieves a certain threshold for GST registration online, he or she must obtain a GSTIN.
You’ll learn everything you need to know about GSTIN Registration and how to obtain a GST number in India in this article.
What is the procedure for registering for GST?
The new tax system went into effect on July 1, 2017. Since then, it has been critical for all businesses to register for GST in order to take advantage of the new system. After completing the registration process, one can acquire a GST number and take advantage of tax benefits. To obtain a GSTIN, however, precise procedures must be followed. Here are the processes for registering for GST.
Who should be GST-registered?
An individual must meet the following eligibility requirements for GST registration in order to get a GST number.
- Individuals classified as such under pre-GST legislation.
- A business with a turnover of more than Rs. 40 lakhs is considered successful.
- A non-resident taxable person is one who is not a resident of the United States.
- Distributor of input services and agent for suppliers
- Individuals that use the reverse charge mechanism to pay their taxes
- Individual who sells through an e-commerce aggregator
- Aggregators of e-commerce
- Individuals that provide a resident of India with internet information, database access, or retrieval services from a foreign country are not taxable.
Furthermore, multiple types of registration under GST are available depending on a person’s category. As a result, in the following part, we’ll look at the various types of GST registration.
What are the different forms of GST registrations?
The following are the several forms of GST registrations available in India:
- Normal taxpayer: Anyone with a business turnover of more than Rs. 40 lakhs falls into this category. Individuals whose previous year’s total revenue did not exceed Rs. 75 lakhs should apply under this plan. In addition, taxpayers in service industries, GSTR3B, and GSTR1 must register for the Goods and Services Tax.
- Scheme of composition: This scheme allows any taxpayer with an annual revenue of less than Rs. 1.5 crores to register for GST. Small taxpayers can take advantage of this simple and uncomplicated arrangement to skip cumbersome GST requirements and pay tax at a fixed rate.
- Taxpayer on the side: A casual taxable person is a person who does not have a fixed place of business and supplies goods or services in a territory where GST is applicable.
- Distributor of input services: This is a supplier’s office that receives tax invoices on the receipt of input services.
- Non-resident taxable person: A non-resident taxable person under GST is someone who lives outside of India who sells goods or services in India.
- Individuals who have been notified by the UN/Embassy/other: The Ministry of External Affairs assigned a Unique Identification Number to UN institutions and embassies. This number enables them to accept goods and services from persons who have registered.
- Unit or developer in the Special Economic Zone: Developers and units in SEZs must register for GST for the first time by submitting the required certificate and documentation.
- TDS/TCS: Candidates who pay suppliers more than Rs. 2.5 lakhs must register for GST as a tax deducted at source. Individuals can apply for registration directly on the website.
In addition, various important documents are necessary for GST registration. Let’s take a closer look at that!
What documents are required for GST registration?
To register for GST, you must bring the following documents:
- PAN Card
- Aadhar
- Proof of business registration or a certificate of incorporation
- Promoters’ or directors’ identification and address proofs, together with passport-size pictures
- Proof of the business’s address to back up your claim
- Statements of bank accounts
- Digital signature
- Authorization letter for authorised signatory
If the scanned copies of the required documents have been successfully received, the GST registration process can be finished.
Individuals may, however, apply for GST in person at a GST Seva Kendra set up by the Indian government. It’s as simple as filling out the form, presenting the required documents, and submitting them to the appropriate government.
What are the GST registration fees?
The registration price for the GST has been removed, which is great news for taxpayers. As a result, there are no charges for GST registration.
Defaulting on tax payments or making short payments, on the other hand, will result in a GST penalty. The penalty under GST is 10% of the tax amount, but only if the amount is less than Rs. 10,000. The penalty for willful tax evasion will be 100 percent of the tax amount.
How can I verify the progress of my GST application?
Candidates can check their GST status on the platform with or without logging in. If you want to check your GST registration status without logging in, follow these steps:
- Now enter your ARN in the “Track Application Status” box.
- Pending for processing, site verification assigned, site verification completed, pending for clarification, clarification filed- pending for order, clarification not filed- pending for order, approved, or rejected are all possible statuses.
Suggested Read: GST Consultancy Services
