how to apply for new gst registration
Step-by-Step Guide to Applying for New GST Registration in India
Introduction:
The Goods and Services Tax (GST) is a comprehensive tax levied on the supply of goods and services in India. It has replaced multiple indirect taxes levied by the central and state governments, simplifying the taxation system and promoting a unified market in the country. If you are a business owner in India and your annual turnover exceeds the threshold limit set by the government, it is mandatory for you to register for GST. This article aims to provide a step-by-step guide on how to apply for new GST registration in India.
1. Determine GST Applicability:
Before applying for GST registration, it is important to understand whether your business is required to register under the GST regime. As per the GST Act, businesses with an annual turnover of Rs. 40 lakhs (Rs. 10 lakhs for specified states and categories) or more need to register for GST.
2. Gather Required Documents:
To complete the GST registration process smoothly, ensure you have the following documents readily available:
a. PAN Card: Every applicant must have a valid Permanent Account Number (PAN) issued by the Income Tax Department.
b. Aadhaar Card: Individuals and Sole Proprietorships should provide their Aadhaar Card details.
c. Proof of Business Registration: Provide documents such as the Partnership Deed, Certificate of Incorporation, or Registration Certificate, depending on your business structure.
d. Address Proof: Submit documents like rental/lease agreement, electricity bill, or property tax receipt to validate the registered office address.
e. Bank Account Proof: Furnish a scanned copy of the first page of your bank passbook or a bank statement.
3. Online Application on the GST Portal:
The GST registration process is entirely online, facilitated through the official GST portal. Follow these steps:
a. Visit the GST portal at www.gst.gov.in.
b. Click on the ‘Services’ tab and select ‘Registration’ from the drop-down menu.
c. Choose ‘New Registration’ and fill in Part A of the application form with relevant details, including PAN, email address, and mobile number.
d. Verify your PAN, email, and mobile number through the OTP (One Time Password) sent to your registered email and mobile.
e. After verification, you will receive a unique application reference number (ARN) on your registered mobile and email.
4. Completing Part B of the Application:
Once you have received the ARN, continue with Part B of the application:
a. Log in to the GST portal using your ARN.
b. Fill in the GST registration application form with the required details, such as business information, business type, goods/services details, and bank account information.
c. Upload the scanned copies of the required documents mentioned earlier.
d. After completing the form, submit the application.
5. Verification and Approval:
Once you have submitted the application, it undergoes verification by the GST officials. If any additional information or documents are required, you will be intimated through the registered email or mobile. Upon successful verification, you will receive the GST registration certificate on your registered email address.
6. Post Registration:
After GST registration, make sure to fulfill your tax obligations:
a. Display your GSTIN (GST Identification Number) on invoices and documents.
b. Maintain accurate records of purchases, sales, and tax collected.
c. File your GST returns within the prescribed due dates.
Conclusion:
The GST registration process in India is now conveniently done online, ensuring ease of compliance for businesses and promoting tax transparency. By following the step-by-step guide outlined in this article, Indian businesses can successfully apply for new GST registration and operate in compliance with the GST regime. Remember, timely registration and compliance will not only avoid penalties but also streamline your business operations in the country.,
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how to apply for new gst registration
This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions.
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