The GSTIN, or GST identification number, is a 15-digit PAN-based number that is provided to each person who is registered 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 GST 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, certain procedures must be followed. The procedure for GST registration is outlined below.
Who should be GST-registered?
An individual must meet the following eligibility requirements for GST registration in order to get a GST number.
- Individuals who are still categorized 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. These tax bills are sent to a facility with the same PAN for the distribution of credits for the same 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.
- Distributor of internet services for non-residents: Individuals who provide online services outside of India who are not registered for GST must register.
- Individuals notified by the UN Body/Embassy/other: The UN entities and embassies were given a Unique Identification Number by the Ministry of External Affairs. 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 needed to register for GST?
The following documents must be brought with you to register for GST:
- 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 authorized signatory
The procedure for GST registration can be completed after successfully delivering the scanned copies of the above documents.
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?
Taxpayers should be aware that the GST registration fee is waived. As a result, there is no cost associated with 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 Return Filing
