GST registration is a completely online process that doesn’t involve any manual work.
To Grow your business, you shall have GST registration. Your GST-related questions will be answered by Prakasha & Co. Choose us to manage your GST registration, Gst Filings.
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The largest tax reform to take place in India recently was the Goods and Service Tax (GST), an indirect form of tax that replaced a number of Central and State levies like VAT, Service tax, Excise duty, Entry tax, Octroi, etc. The Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is imposed on every value addition. The Act went into effect on July 1st, 2017.
Since commodities typically pass through several stages before being sold to a consumer, from a manufacturer to a wholesaler to a retailer, GST is multi-stage. Each level involves a value addition, so GST is charged there as well.
GST is a destination-based tax, which implies that the state where the goods or services are consumed is responsible for collecting the tax. For
The GST has united the Indian market by combining several indirect taxes under a single guise. It has eliminated may rules and regulations in other indirect tax in India.
One-Nation and One-tax was the concept under GST Law.
The cascading impact of numerous taxes and VATs was eliminated with the implementation of GST, which decreased the cost of goods and services.
Helped business to manage the GST compliance easy.
Small businesses benefit from GST registration since it lets them avoid time-consuming tax services. Since service providers and products suppliers with annual sales of under 20 lakh rupees and 40 lakh rupees respectively are exempt from paying the GST.
The GST was implemented with the intention of eliminating fraud and unreceipted sales. Additionally, it assists in lowering the amount of indirect taxes that small businesses must pay.
GST registration provides for centralized registration and brings uniformity to the taxation process. This makes it easier for businesses to submit their quarterly tax returns online.
With the implementation of the GST, tax avoidance has significantly decreased.
Every Goods which has the value of Rs.50,000 and above must registered at e-way bill. This has significantly reduce the tax leakage from Business.
If your current supply of goods or services exceeds Rs. 20 lakh, you must register for GST (if your business operates exclusively in the North Eastern states, Rs. 10 lakh)
Regardless of turnover, anyone supplying goods or services to another state must register for GST. Even online service providers with customers in another state will be required to register for GST right away
Who owns, operates, and manages an e-commerce digital platform. Consider Flipkart and Amazon.
some-one has the Business by selling the goods in the online also must Register with GST Act.
Sellers who supply goods or services through ecommerce sites
Regardless of turnover, any non-resident person or company supplying goods or services in India must register
Regardless of turnover, anyone providing online information and database services to someone in India from outside India must register
For A Sole Proprietorship Business
For A Partnership Firm
For A HUF
For A Public Or Private Limited Company
To successfully finish the GST registration, process every taxpayer must follow the requisite process. The procedure for GST Registration is mentioned below.
The very first step for GST Registration is to fill the online application, and for the same, the taxpayer shall visit the GST portal Www.Gst.Gov.In. Also, the taxpayer (Applicant) needs to create a username and password in the portal.
The Applicant need to click the link on the GST portal, and click on to the ‘New User Login’. By clicking on ‘New User Login’ accept the window on the displayed declaration form and press ‘Continue’ to register yourself for GST Registration.
The applicant is required to Select ‘New Registration’ and Login to start the GST registration procedure.
The applicant shall fill the required details asked on the GST portal:-
• Select ‘Taxpayer’ under the drop-down menu.
• Select the respective state and district.
• Enter the details of the business (Name and PAN card).
• Provide the email ID and mobile number (that must be active as OTPs will be sent on the details) in the respective boxes.
• Enter the Captcha shown on the screen and click on ‘Proceed’.
The next step after filing the required details is to enter the OTP sent to your email ID and mobile number in the respective boxes.
Click on the ‘Proceed’ button once the details have been entered.
An applicant will receive the Temporary Reference Number (TRN) on the screen. Save the TRN for further process.
Note-TRN is used to open PART-B in GST registration and to log in to the GST registration application.
After receiving the TRN, an applicant is required to open the GST portal again and click on ‘Register’ under the ‘Taxpayers’ menu.
Select the ‘Temporary Reference Number (TRN)’.
Enter the TRN selected and the captcha details.
Once the Captcha details are entered, click on the ‘Proceed’ button.
An applicant will receive an OTP on the email ID and registered mobile number. Click on ‘Proceed’ Button by entering the OTP received.
The status of your application will be displayed on the next page. Click on the Edit icon, mentioned on the right side of the page.
On the next page there will be various sections, where all relevant details are required to be filed along with the necessary documents.
Before submitting the application, click on the ‘Verification’ page and check the declaration. The below-mentioned methods can be used for submitting the application:
• Electronic Verification Code (EVC).
• By e-Sign method.
• In case the applicant is a company, the application must be submitted by using the Digital Signature Certificate (DSC).
Once the process is completed, a successful completion message will be shown on the screen. The ARN will be sent on the mobile number and email ID registered by the GST Applicant.
Check the status of the ARN on the GST portal.
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If everything is in order, it may take anywhere between 4 to 5 business days for registering GST. This timeline is further subject to Government processing, approval time, public holidays, etc.
Getting registered with GST is a must for businesses that have a turnover of over INR 20 lakhs or for those who engage in inter-state transactions.
This is because GST is charged on the goods and services sold in India. If you do not register, you can’t collect GST from your customers. This can be frustrating for start-up owners. However, the process is simple if you use Prakasha & Co Legal experts to help you complete it. Get in touch with Today for your GST related services.
A company consultant can be important for a business during the GST registration process in Bangalore, or any other location in India, because they can provide expert guidance and assistance with the process.
GST registration can be complex and time-consuming, and a company consultant can help a business navigate the process and ensure that it is completed correctly. They can provide information and advice on the various requirements and procedures involved in GST registration, and help the business complete and file the necessary forms and documents.
In addition to assisting with the GST registration process, a company consultant can also provide ongoing support and guidance on GST compliance matters. This can be especially useful for businesses that are new to GST or have limited experience with the tax.
Overall, a company consultant can be a valuable resource for businesses in Bangalore or any other location in India during the GST registration process. They can provide expert guidance and assistance, helping businesses understand and comply with GST laws and regulations and operate more efficiently and effectively.
Contact us to get a free consultation.
