When is GST registration required for business? Know step by step how to do GST registration yourself?
If you do business, when will you need GST registration? Complete information about this is being given here. GST is a tax that is imposed on the supply of products and services in India. GST is an indirect tax. It was implemented in 2017 to replace Variety of Previous Indirect Tax (VAT), Service Tax, Purchase Tax, Excise Duty and many previous indirect taxes. The registration limit for GST in India was earlier Rs 20 lakh. Now it has been increased to Rs 40 lakh. Now it is necessary for all the businesses having turnover of more than Rs.40 lakhs to get GST registration done.
To register under GST 2017, the turnover should be Rs 10 lakh for North-Eastern states including Himachal Pradesh, Uttarakhand, Jammu and Kashmir. In most states, restaurants with a revenue of more than Rs 20 lakh have to register for GST. On the other hand, in the state of special category, the annual total revenue of the restaurant is more than Rs 10 lakh, then registration for GST will have to be done.
Similarly, this applies to all manufacturers, traders and service providers. GST is applicable when the total turnover limit of a business exceeds the prescribed limit. GST registration is necessary for any business. No business organization can do business without registering under GST. No strict action can be taken against him.
There are many types of GST Registration
There are many types of GST Registration. The first is the normal taxpayer who comes under the special category of GST registration. This applies to taxpayers doing business in India. Composition taxpayers come in the second category. To register as a composition taxpayer, you must register under the GST Composition Scheme. Along with this, there are also categories of casual taxable person and resident taxable person.
How to apply online
1. Visit the official GST portal (gov.in) for GST registration. Then click on the ‘Register Now’ option under the Taxpayers tab.
2. After that choose the option of New Registration. Then fill the required details like business name, PAN, email id and mobile number.
3. Enter the captcha and proceed. Enter the OTP received on your mobile number as well as email ID.
4. Now the page will show you the Temporary Reference Number (TRN).
5. Now again go to the GST Service Portal and click on ‘Register’ under the ‘Taxpayers’ menu.
6. Select TRN. Enter TRN and Captcha. Click on ‘Proceed’.
7. After this you will again get an OTP. Enter this OTP and click on ‘Proceed’.
8. Now you will see the status of your GST registration online application.
9. On the right side you will see an ‘Edit’ icon, click on it.
10. Now fill the details and attach the scanned copy of the document.
11. Click on the verification page, after which you will have to check the declaration.
12. Now add your digital signature. Success message will appear on the screen
13. You will be given an Application Reference Number (ARN).
14. Now you can check AIN status on the portal.
These documents are necessary
For GST registration you will need Aadhaar Card, PAN Card, Owner with Passport Size Photo, Address and ID Proof of Promoters, Bank Details, Passbook, Cancel Cheque, Supporting Address of Business, Registration Certificate, Digital Signature and Authorized Signatory Letter of Authorization It is necessary to be
