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GST Registration – How Should I Register For GST?
GST, or the Goods and Services Tax Act, went into force on July 1, 2017 as a result of the Indian government's ratification of the 101st Amendment to the Indian Constitution. The GST replaced a number of former taxes levied by the central and state governments.In India, the Goods and Services Tax (GST) is an indirect tax levied on the delivery of goods and services. It is a comprehensive multi-stage, destination-based tax: comprehensive because it incorporates nearly all indirect taxation, with the exception of a few state taxes; multi-stage because the GST is levied at various levels of the manufacturing process, but is supposed to be refunded to all parties during various points of production, other than the final customer, because, as a destination-based levy, it is collected from the point of consumption rather than the point of origin.
India has introduced a dual GST approach, which ensures that taxes are under the supervision of both the Union and state governments. Transactions within a single state will be subject to the CGST charged by the national government and the SGST levied by the state government. The central government imposes Integrated GST (IGST) on inter-state purchases and manufactured products or services. GST is a consumption-based or destination-based tax, which means that taxes are levied on the state where the goods or services are purchased rather than the state where they are manufactured.About GST Registration
Structure of GST
GST in India abolished various individual taxes and brought in a single taxation system
Before GST
| Central Taxes | State Taxes |
|---|---|
| Central Excise duty | State VAT / Sales Tax |
| Additional duties of excise | Central Sales Tax |
| Excise duty levied under | Purchase Tax |
| Medicinal & Toilet Preparation Act | Entertainment Tax (other than those levied by local bodies) |
| Additional duties of customs (CVD & SAD) | Luxury Tax |
| Service Tax | Entry Tax (All forms) |
| Surcharges & Cesses | Taxes on lottery, betting & gambling |
| - | Surcharges & Cesses |
After GST
| CGST | SGST/UTGST | IGST |
How To Register For GST?
There are various categories to register under GST. One can register for GST under any one of the following categories;
- Normal Taxpayer
- Composition
- Casual Taxable Person
- Input Service Distributor
- SEZ Developer
- SEZ Unit
- Tax Deducted at Source or Tax Collector at Source
The process of registering on the GST website is divided into two parts:
1. Filling up and submitting the Registration Application
2. Aadhaar Verification (E-KYC)The steps to register yourself as a Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service Distributor (ISD)/ SEZ Developer/ SEZ Unit, are the same. Please follow the below steps:
1. Navigate to the GST website. The 'Home Page' will be shown.
2. Navigate to Services > Registration > New Registration. Alternatively, you can click the REGISTER NOW button.
3. Select your registration type, your state or union territory, the legal name of your firm, your PAN number, and any other details needed on the 'New Registration' page.
4. To obtain the confirmation, provide your current mobile phone number. OTP
5. Enter the Captcha Code and press the 'Proceed' button.
6. It will now display all GSTINs / Provisional IDs / UINs / GSTP IDs in India that are mapped to the same PAN. Click the 'Proceed' button.
7. You will immediately receive an OTP on your mobile phone as well as your email address, which you must enter into the appropriate fields. Then press the PROCEED button.
8. Under your name, a Temporary Reference Number (TRN) is generated. The next step is to fill out all of the additional information about your business and the Aadhaar verification.
9. Enter your TRN to access the GST Portal.
10.Go to the MY SAVED APPLICATIONS tab after logging in.
11.Open the saved application form to fill in the following details:
FAQs
1. How much time do I have until I have to register for GST?
An unregistered organization or entity has 30 days from the date of liability to fulfill the registration formalities.
2. Where can I register for GST?
The ‘GST Portal’ is the all-in-one destination for everything relating to GST. GST registration, returns filing and refund claims are all done through this portal.
3. Who is qualified to register for GST?
Businesses that have a turnover of more than Rs. 40 lakhs, Rs. 20 lakhs, or Rs. 10 lakhs must register as a normal taxable person under the Goods and Services Tax (GST).
4. How much does it cost to register for GST?
There is no fee for registering for GST. Every business with a total yearly revenue of more than Rs. 20 lakhs is required to register for GST.
5. Is GST required for small businesses?
Every business with a turnover of more than Rs 40 lakh in a fiscal year is needed to register for GST. For service providers, the maximum is Rs 20 lakh.