GST Registration- Overview

What do you mean by GST?

GST (Goods and Services Tax) happens to be an indirect tax rolled out in the year 2017. It has been levied on the supply of services and goods across India. GST has been responsible for bringing about consistency in the indirect tax structure and it has done this by replacing the indirect taxes existing in the pre-GST regime like service tax, VAT, excise duty, and so on.

It has been made compulsory by the GST regime that all entities involved in the purchasing or selling of items or services or both will need to obtain the GSTIN after registration.

What exactly is GSTIN?

This happens to be a code consisting of 15 digits that have been allocated to each taxpayer having valid GST registration in the country. GSTIN is compulsory for every business whose yearly turnover exceeds Rs.40 lakh for Goods and 20 Lakh for Services. GST registration will be compulsory once an individual commences a new business expecting to cross the recommended turnover or the entity crosses a minimum threshold turnover.

Completing the GST registration process online

1. Go to the GST portal named https://www.gst.gov.in

2. Click the link named “Register Now” which you can find under the “Taxpayers” tab.

3. Choose “New Registration”.

4. Fill in the details mentioned below:

•           Select “Taxpayer” under the downtown menu named “I am a”.

•           Choose the respective district and state.

•           Enter the business name.

•           Type in the PAN number of the business.

•           Enter the mobile number and email ID in the respective boxes. It is imperative for the mobile number and email ID to be active since you will receive OTPs for them.

•           Click “Proceed” after entering the image shown on the screen.

5. Type in the OTP that was sent to you on the subsequent page.

6. Click “Proceed” after entering all the required details.

7. You will see the TRN (temporary reference number) on the screen. Make sure to jot down this number.

8. Again, go to the GST portal and click “Register” under the menu named “Taxpayers”.

9. Choose “Temporary Reference Number”.

10. Type in the captcha details as well as the TRN.

11. Click “Proceed”.

12. An OTP will be sent to you to your registered mobile number and email ID. Click “Proceed” after entering this OTP on the subsequent page.

13. On the next page, you will receive your application status. Click the Edit icon on the right side of the page.

14. On the subsequent page, there will be 10 sections. You need to fill in all the required details and also submit the required documents.

15. After going to the “Verification” page, make sure to check the declaration. Following this, the application must be submitted by using any of the methods mentioned below:

•           By e-Sign method

•           By Electronic Verification Code

16. After completing this process, you will see a success message on the screen. You will receive the Application Reference Number as well.

17. It will be possible to verify the Application Reference Number status on the official GST portal.

As already mentioned, any company offering the sale of services with a yearly turnover of 20 lacs or products with a yearly turnover of 40 lacs will need GST registration and it should also have a legitimate GST number. At TaxSavvy, we will help you to obtain a secure GST identification number. We will make it extremely simple for you to obtain your GST while sitting in the comfort of your residence. All employees will file your returns, plus complete all the other required compliances without any problem at all. We will make sure that all your returns are filed duly and that you receive your GST identification number safely as well. Our legal representatives will be available to explain the entire process to you and also clear any doubts that you might have.