On the 1st of July 2017, GST came into effect after replacing the indirect taxes like VAT, duty, services tax, etc. Since then every individual and organization has to get them registered under GST. MoF (Ministry of Finance) has simplified the registration of GST to relieve the tax filing process. Here’s how the registration process goes on but first let’s go through the eligibility criteria.
Eligibility Criteria for GST Registration
Any service provider who offers a service value that exceeds Rs.20 Lakhs is required to acquire GST registration.
If any service provider supplies goods and services interstate, then he/she shall register for GST. Interstate entities with an annual turnover exceeding Rs.20 Lakhs have to do the same.
Any service provider serving goods & services via an e-commerce platform is entitled to register for GST.
Casual Taxable Persons
Any service provider undertaking goods supply intermittently or seasonally via a shop or temporary stall must apply for GST.
Voluntary registration is possible by any individual. However, the individual who register voluntarily couldn’t surrender for a year.
GST Registration Process Step by Step
Step 1: Visit the official GST portal (https://www.gst.gov.in/)
Step 2: Go to services then Registration and finally to the New Registration option
Step 3: Fill in taxpayer type, state name, legal name of entity/business, permanent account number, and email address
Step 4: Hit Proceed button
Step 5: Generate TRB by finishing OTP Validation
Step 6: After verification, TRN (Temporary Reference Number) will be sent to your mobile number and email address
Step 1: Hit Services > Registration > New Registration and select the TRN button to get logged in
Step 2: Now enter TRN generated and fill Captcha text. Hit Proceed
Step 3: Enter OTP you received on email or mobile to verify. Hit Proceed
Step 4: My Saved Application page will be displayed. Now click the Edit icon
Step 5: Here you will find ten tabs that demand your business details, authorized signatory, promoter/partner details, goods & service detail, Aadhaar authentication, state information, principal and additional place of business, and verification
Step 6: Hit the Save and Continue option. Sign it digitally via DSC and Proceed once again
Step 7: After submission, you will get ARN (Application Reference Number) through SMS or email to confirm your registration
Penalty For Not Registering Under GST
As it is already stated above all businesses are required to register GST. In case you fail to do so, you will be charged 10% of the tax amount payable ranging maximum of Rs. 10, 000.