Taxation is one of the vital components of development in any country. The revenue from taxation is used to finance infrastructure like roads, sanitation, public transport, and other amenities provided by government.

To overcome the limitations of previous tax structure, the need arose to have a single tax all over the nation. To mitigate cascading effect of multiple indirect taxes and to have a single national market. GST was formed to achieve this target. Goods and Services Tax is comprehensive, multi-stage, destination based indirect tax levy, subsuming all central and state levies with a single unified value added tax transforming nation into one single market.

GST is applicable in India from July 1, 2017. It is consumption based tax, i.e. tax will be payable in the state in which goods and service or both are finally consumed. Export are not taxable, because the place of consumption is outside India. Imports are taxable, because the place of consumption is in India.

Under the new GST regime, all the entities involved in buying or selling goods or providing services or both are required to have an Online GST Registration in India. Entities without GST registration in India would not be allowed to collect GST Online from a customer or claim input tax credit of Goods and Services Tax paid or could be penalized. Further registration under GST is mandatory once an entity crosses the minimum threshold turnover or starts a new business that is expected to cross the prescribed turnover.

According to GST council, entities in special category is liable to get registered under GST Online with an annual turnover of rupees 10 Lacks and above. All other entities in rest of India would be required to register for GST if annual turnover exceeds rupees 20 Lacks. There are also certain cases in which entity is liable for obtaining GST registration, irrespective of annual sales turnover.

Documents required to get registered for GST are as follows. 1) Valid Permanent Account Number (PAN). 2) Valid Indian Phone Number. 3) Valid e-mail address. 4) Prescribed documents and information on all mandatory fields of Registration Application. 5) Place of business. 6) An authorized signatory who is resident of India. 6) At least on proprietor / partner / director / trustee / karta / member with corresponding PAN. 7) Jurisdiction details. 8) Valid bank account number from India. 9) Indian Financial System Code (IFSC) number of the same bank and branch.

The process for online GST registration is as follows.

  1. Log on to Government’s GST Portal or visit Company Vakil for expert advice over same.
  2. Click on the services tab.   
  3. The 3 options which will be appeared are, Registration, Payments and User services.
  4. Click on Registration and select “New Registration”.
  5. You will be redirected to a new page wherein you will have to select whether you are a taxpayer or a GST practitioner, before entering a few details such as the legal name of the business, the state and district in which the entity is located, Permanent Account Number, email address and mobile number. This is basically Part-A of the form.
  6. The details you have entered will have to be verified by the portal, so you will receive a one-time password or an email for confirmation.
  7. Based on the kind of business you are filling, you will be required to upload a few documents as requested.
  8. Part-B of the form will then have to be filled in with a few details after which you will receive the Application Reference Number through email or SMS.
  9. Your application will then be verified by a GST officer and it could either be approved or you will be requested to provide some more details or documents until the authorities have all the required information to approve your application.

Company Vakil can help you obtain GST registration in India and maintain GST compliance. Feel free to contact us for all the Goods and Services Tax related inquiries and we can give you the assurance of solving it.