All you need to know about GST Registration and process of GST Registration

The Goods and Service tax (GST) as introduced by the government is the culmination of all the indirect taxes to a single tax regime. GST being a single tax for both goods and services helps to remove all the deficiencies in the current tax structure and the cascading tax effect. Companies or firm or the person buying or selling goods or providing services have to register themselves under GST to avail the benefits of input tax credit. Information on what is Goods and Service Tax, documents required for GST registration, process of GST registration will be included. Let’s have a look on what is GST registration and other important information.

What is a GST Registration?

GST registration is the procedure for a taxpayer to become registered under the Goods and Services Tax (GST). The Goods and Service Tax Identification Number (GSTIN) is supplied once the registration process is completed. The 15-digit GSTIN is issued by the government and is used to establish whether a company is subject to GST or not.

Important Points to Register under GST

• Registration under GST is state specific and PAN based.
• An entity needs to display a GSTIN and a certificate of GST registration at their business, in case if a business is situated in more than one place then it need to be display at every location.
• In case of a supplier it is mandatory to registered in every state and union territory where he/she supplies.
• GSTIN number is consist of 15-digits, in which the first 2 number is the state code, after that 10-digit consist of PAN number of a legal entity, another 2-digit is for entity code, and last 1-digit is total of a numeric number present in a GSTIN.

Documents Required for GST Registration

• Photos of all Partners/Directors
• Identity Proof of Proprietor/Director/Partner (PAN, Aadhar Card, Voter ID)
• Proof of Constitution of Business (SSI/MSME Registration, Shop establishment Certificate, Partnership deed, Certificate
  of Incorporation)
• Proof of Principle place of business (MOA and AOA, Electricity Bill, Rent / Lease agreement, Latest Bank Statement)
• Latest Bank Statement
• Aadhar card of Proprietor/Partner
• Letter of Authority/Board Resolution

Process of GST Registration

• Login to the GST Online Portal
• Fill up Form Part-A (PAN, Mobile No., and E-mail)
• The Portal verifies your detail by OTP/E-mail
• Upload the required documents
• Access and fill in Part B using received number
• You will get the Application Reference Number
• The GST Officer starts verifying your documents
• The GST Officer either rejects or accepts your application within 3 working days
• If any explanation is required you need to produce the documents required.
• After all the clarifications completed, GSTN number is allotted to you.

Suggested Read: Benefits of GST for Small Business and Startups in India

Conclusion

All individuals and companies supplying goods or services in India must register for GST. To make tax reporting easier, the Ministry of Finance simplified the process of GST registration. The government has simplified the process so that anyone can obtain a GSTIN without difficulty.