GST REGISTRATION

The Goods and Services Tax (GST) is an tax on goods and services consumed in India. GST registration is a indirect tax that has supplanted numerous other indirect tax in India, like excise duty, VAT and services tax. GST has been in force from first July, 2017 in light of the Goods and Service Tax Act passed by the Indian Parliament on March 29, 2017.

Under Goods And Services Tax (GST), company whose turnover surpasses the edge furthest reaches of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh by and large, should register as a typical available individual. It is called GST registration.

For specific companies, registration under GST is compulsory. On the off chance that the business carries on business without registering under GST, it is an offense under GST and weighty punishments will apply.

KINDS OF GST REGISTRATION

There are different kinds of GST registration like regular, casual taxable persons, non-resident taxable person and eCommerce administrators. Casual taxable persons non-resident taxable persons and eCommerce administrators are expected to get GST registration regardless of turnover limit.

• Casual Taxable Persons:

 The GST Act Identity Profiles as a relaxed available individual as an individual who at times supplies goods and services in a State or a Union domain where the element has no decent business place. Thus, people running transitory companies in fairs or displays or occasional companies would fall under relaxed available individual under GST.

• Non–resident Taxable Persons:

Non-resident available individual (NRI) under GST is any individual or business or not-for-benefit providing goods and services yet have no decent business place or home in India. In this way, any unfamiliar individual or unfamiliar business or business providing goods and services to India would be a non-occupant available individual – requiring consistence with all GST guidelines in India.

• E–Commerce Operators:

Electronic commerce administrator is each individual who, claims, works or oversees advanced or electronic office or stage for electronic business. Subsequently, any individual selling through the web can be named as an eCommerce Operator requiring GST registration independent of business turnover.

PROCEDURE TOWARD COMPLETE GST REGISTERATION PROCESS ON THE WEB

The methodology that people should follow to finish GST Registration is referenced underneath:

Stage 1: Visit the GST portal way – https://www.gst.gov.in

Stage 2: Click on the ‘Register Now’ connect which can be tracked down  under   the ‘Taxpayer’tab

Stage 3: Select ‘New Registration’.

Stage 4: Fill the beneath referenced details:

Under the ‘I’m a’ drop-down menu, select ‘Taxpayer’.

• Select the individual state and district.
• Enter the name of the business.
• Enter the PAN of the business.
• Enter the email ID and mobile number in the separate boxes. The entered email ID and mobile  number should be active as OTPs will be shipped off them.
• Enter the picture that is displayed on the screen and snap on ‘Continue’.

Stage 5: On the following page, enter the OTP that was shipped off the email ID and mobile  number in the separate boxes.

Stage 6: Once the details have been placed, click on ‘Continue’.

Stage 7: You will be shown the Temporary Reference Number (TRN) on the screen. Make a note of the TRN.

Stage 8: Visit the GST gateway once more and snap on ‘Register’ under the taxpayers menu.

Stage 9: Select ‘Temporary Reference Number (TRN)’.

Stage 10: Enter the TRN and the manual human test details.

Stage 11: Click on ‘Continue’.

Stage 12: You will get an OTP on your email ID and registered mobile  number. Enter the OTP on the following page and snap on ‘Continue’.

Stage 13: The situation with your application will be accessible on the following page. On the right side, there will be an Edit symbol, click on it.

Stage 14: There will be 10 sections on the following page. Every one of the applicable details should be filled, and the essential reports should be submitted. The rundown of records that should be transferred are referenced underneath:

• Photos
• Business address proof
• Bank details, for example, account number, bank name, bank office, and IFSC code.
• Authorisation form
• The constitution of the citizen.

Stage 15: Visit the Proof page  and check the certificate, Then present the application by utilizing one of the beneath referenced techniques:

 By Electronic Proof Code (EVC). The code will be shipped off the registered mobile  number.

• By online sign strategy. An OTP will be shipped off the mobile number connected to the Aadhaar card.

Stage 16: Once finished, a message will be displayed on the screen. The Application Reference Number (ARN) will be shipped off the registered mobile  number and email ID.

Stage 17: You can really take a switch with the ARN on the GST portal .

GST REGISTRATION VIA AUTHENTICATION OF AADHAAR

New companies can protect their GST registration with the assistance of the Aadhaar. The interaction is basic and fast. The new interaction happened from 21 August 2020. The technique to settle on Aadhaar validation is referenced beneath:

1. When you apply for GST registration, you will be furnished with a choice to pick Aadhaar validation.
2. Select ‘YES’. The validation connection will be shipped off the registered email ID and mobile
3. Click on the confirmation connect.
4. Enter the Aadhaar number and select ‘Approve’.
5. Once the details have been coordinated, an OTP will be shipped off the registered mobile number and email ID.
6. Enter the OTP to finish the cycle. You will get the new GST registration inside three working days.

PUNISHMENT FOR NOT REGISTERING OR LATE REGISTERING UNDER GST

In the event that you don’t cover tax or pay a lesser sum than what is expected, the punishment that is demanded is 10% of the due sum (in the event of certifiable mistakes). In any case, the base punishment is Rs.10,000.In the event that you have not registered for GST and are purposely attempting to dodge tax, the punishment collected is 100 percent of the due tax sum.

DOCUMENTATION REQUIRED FOR GST REGISTRATION

For A Sole Proprietorship Business

• PAN CARD of the proprietor
• Aadhaar card of the proprietor
• Photo of the proprietor (in jpeg design 100kb)
• Bank details
• Address proof

For A Partnership Firm

• PAN CARD of all partner(counting overseeing accomplice and approved signatory).
• Duplicate of business deed
• Photo of all partner and approved signatories (in JPEG design, most extreme size – 100 KB)
• Address evidence of partner (Passport, driving permit, Voters personality card, Aadhar card and so forth.)
• Aadhar card of approved signatory
• Evidence of arrangement of approved signatory
• On account of LLP, registration certificate/Board resolution of LLP
• Bank details*
• Address proof of chief spot of business.

For A Public Or Private Limited Company

• Pan card of the Company
• Certificate of joining of Company
• MOA and AOA of the company
• Identity Proof Proof and address confirmation of all chiefs and Authorized signatory of the Company.
• Visa size photo of the chiefs and approved signatory.
• Duplicate of Board resolution passed for appointing approved signatory.
• Details of Bank account opening.
• Address proof of the business place.

WHAT IS THE FORM OF 5 SLABS UNDER GST?

GST systems were made by thinking about all the layman and expansion rates as a top priority. To simplify it and more straightforward, the GST was organized following the four levels form. These four zones are given underneath, which are as per the following-

• Zero Rates

Zero rate tax implies the – nothing tax is to be applied on the merchandise and additionally benefits.

 

• Lower Rate

Lower tax rate decides the 5% assessment rate which is applied on the CPI (Consumer Price Index) container and mass utilization.

 

• Regular Rate

Regular rate incorporates 12% and 18% of the tax rates.

 

• Higher Rates

Higher rates tax incorporates 28% of the tax rate under GST Regulation.