10 Things you must follow while registering your business for GST

he procedure of GST registration includes filling and submission of an online application to get the unique GSTIN (GST Identification Number).

Eligibility Criteria for GST Registration

Businesses from North-Eastern States with Rs. 9 Lakh aggregate turnover (taxable + non-taxable + exempt supplies + export of goods & services) and businesses from the rest of the India whose yearly aggregate turnover is 19 Lakh are liable to register for GST.

Businesses from North-Eastern region whose yearly total turnover is ≥10 Lakh and for the rest of the India whose yearly aggregate turnover is ≥ 20 Lakh are liable to pay Goods and Services Tax (GST)

Aggregate turnover: taxable + non-taxable + exempt + export of goods and services.

However, there are a few cases where GST registration is compulsory:

• Businesses comprising inter-state supply of goods and services
• An online business offering services as per the aggregator model
• Non-resident taxable person
• Individuals who stream goods & services on behalf of a tax liable person
• Input service distributors
• Ecommerce industries
• Taxable person
• Companies that retail their products on ecommerce marketplaces

Required Documents

he soft copies of the documents required while registering for GST are as below:

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Section                                                                                             Required Documents

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Constitution of Business                                                                       Registration certificate

Partnership deed

Principal Place of Business                                                              Memorandum of Association

Receipt of Tax Paid

Bank Statement

Society By laws

Rent Agreement Copy

Electricity Bill

Municipal Khata Copy

Consent Letter

Other Documents

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Details of Authorized Party                                                              Authorization Letter

Resolution Copy as passed by the managing committee

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Details of Bank account/accounts                                      First Page of Account Passbook

Bank Statement

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Photograph                                                                                         Business owner`s Photograph

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Other Documents                                                 Other documents as required or asked

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Registration process for existing tax payers

An existing tax payer gets a temporary username and password from the tax authority under whom he/she is registered. The provisional user name and password can also be directly received from the tax department.

Then, one needs to log into the GST portal using these credentials (user name and password) and submit the required documents to obtain the GST registration.

Step Wise Guide to Registration Process

Go to www.gst.gov.in

Click New user login

Login using the provisional user name and password

You will land at a page where you will be required to provide your email address and mobile number.

One Time password (OTP) will be generated and sent to the email address and mobile number provided by you in order to verify your email address and the phone number. You do not get the same OPT in your email and on phone. Both OTPs differ from each other. Hence, you need to provide both the OTPs as asked to complete the verification process.

Now, you will land at a page where you will be requested to create and submit a new username and password for your GST portal.

You will be confirmed for your username and password via message.

Now you are redirected to the login screen

Login with your new username and password

Register for GST and obtain a provisional GST number

Now you would be able to see the dashboard of the GST portal

Click on the Provisional enrolment option on the top left corner of the GST Portal dashboard

Below Provisional Enrolment you will see seven sections that are required to fill before you submit your application.

Sections that are required to fill under Provisional Enrolment Section are as below:

1. Business details
2. Details about proprietor and partner
3. Authorized signatory
4. Principal place of business
5. Additional place of business
6. Goods and services
7. Bank accounts

After filling up all the sections under Provisional Enrolment, you need to verify the details and documents shared by you using E-signature or DSC.

Once you will provide your e-signature, you will receive an acknowledgement email on the email address shared and verified by you during this process.

Your Application will be processed within next 3 business days given that the documents and details provided by you are correct.

You will receive a provisional registration certificate which will have a validity period of 6 months.

You can use this provisional registration certificate until you receive your GSTIN.

Registration process for new applicants

Government is in the process of migrating all existing tax payers to GST, so the regiteration process for the new applicants is not open as of now.

GSTIN

It is a 15 digit identification number assigned by the tax department for the applicants upon the successful processing of GST Registration Application.

Decoding the GSTIN

The first 2 digits signify the state code.

The next 10 digits signify the PAN number of Applicant.

The 13^th digit is the entity number of the PAN holder in the state.

The 14^th is a character which is “Z”.

The 15^th digit is the checksum digit.

How to check the status of your Application for GSTIN

Follow the steps given below:

Log on to www.gst.gov.in

Scroll down the page to the bottom

Under the Important Links Section, you will see different links

Click on the Check Registration Status

Enter your provisional ID, registration number or PAN number to check the status of your application