GST Registration

GST (Goods and Services Tax) registration is a mandatory process for businesses operating in India.

Types of GST Registration:

• Voluntary Registration: Businesses can opt for voluntary registration, even if their turnover is below the threshold limit.
• Compulsory Registration: Businesses with a turnover exceeding the threshold limit (₹40 lakhs for goods and ₹20 lakhs for services) must register for GST.
• Composition Scheme Registration: Small businesses with a turnover up to ₹1.5 crores can opt for the composition scheme.

Documents Required:

• PAN Card: Permanent Account Number (PAN) card of the business.
• Aadhaar Card: Aadhaar card of the proprietor/partners/directors.
• Business Registration Certificate: Certificate of registration of the business (e.g., sole proprietorship, partnership deed, incorporation certificate).
• Address Proof: Address proof of the business premises (e.g., rent agreement, electricity bill).
• Bank Account Details: Bank account details of the business.

Benefits of GST Registration:

• Legitimate Business: GST registration makes your business legitimate and compliant with tax laws.
• Input Tax Credit: Registered businesses can claim input tax credit (ITC) on purchases.
• Competitive Advantage: GST registration can provide a competitive advantage in the market.

GST Registration Status:

• Provisional ID: After submitting the application, you will receive a provisional ID.
• ARN: After verification, you will receive an Application Reference Number (ARN).
• GSTIN: Once approved, you will receive a Goods and Services Tax Identification Number (GSTIN).

GST Registration Process:

• Visit the GST Portal: Go to the GST portal (gst.gov.in) and click on "Register Now".
• Fill the Registration Form: Fill the registration form (GST REG-01) with the required details.
• Upload Documents: Upload the required documents.
• Verify Email and Mobile Number: Verify your email address and mobile number through OTP.
• Submit the Application: Submit the application and note the Application Reference Number (ARN).
• Wait for Approval: Wait for the GST registration approval, which may take 2-5 working days.