How to Register for GST and How to Track Your Application?
The Goods and Services Tax (GST) is an all-inclusive and multistage based tax. The fundamental aim of GST is to incorporate various indirect taxes and provide the country the benefit of paying one standard tax. Every corporation that has a turnover of 40 lakhs and above is obligated to register under GST.
The GST application is an online-based application that is mandatory for most businesses. You can be charged by the government if your organization is found operating without having registered under the GST. Moreover, you will play a crucial role in raising India’s economy.
Registering for the GST application takes a maximum of 6 days. Following the steps mentioned in this article will give you a clear cut picture of how and where to fill your GST application.
Who is Liable to Register under GST?
- People who pay tax under the Reverse Charge Mechanism (RCM).
- All e-commerce aggregators.
- People registered for paying indirect taxes such as VAT, service tax, excise duty, etc.
- Corporations that have a turnover of 40 lakhs and above from all states except Uttarakhand, Jammu and Kashmir and the North Eastern states. The people of these states have to register under GST only if they have a turnover of 10 lakhs and above.
- Input-service distributors and supplier agents.
- A person that supplies goods through e-commerce aggregators.
- Database access and other details provided by a person outside India to a person living in India that hasn’t registered under GST.
How to Obtain and Submit Your GST Application?
Once you open the official GST portal (gst.gov.in.), scroll down to the bottom left. There is an option called ‘Register Now’ under Taxpayers (normal). Click on it to proceed.
You will have to enter your details as follows.
- Tap on new registration.
- You will see a drop-down called ‘I am.’ Click on ‘taxpayer’ under it.
- Select your appropriate district and state under the dropdown.
- Enter your company details such as PAN number and name of the business.
- Enter your email address and phone number to receive an OTP.
- Now proceed to the next step.
- Check your email ID or SMS for the OTP.
- Enter the OTP to proceed to the next step.
- Recheck your email and SMS for a Temporary Reference Number.
- The TRN will directly be sent to your SMS and email. Note it down carefully.
- Open the GST portal, gst.gov.in. Select register now.
- Enter the Temporary Reference Number (TRN) along with the captcha and proceed to the next step.
- Once again, you will get an OTP through your email address and phone number. Enter this OTP and click on proceed.
- You will be able to see the status of your application in the form of drafts here. Select the edit icon.
- After that, you will see ten different sections that need to be carefully filled. Open each section and enter your details appropriately.
Open the verification page after entering your details. Now, press on the declaration tab to finish the application. The 3 different ways to submit your application are:
- EVC – receiving OTP through the registered number.
- E-sign – receiving OTP through registered Aadhaar number.
- DSC – businesses are required to submit their applications through DSC.
You will receive a message of your application success once you finish applying. The reference number of your application (ARN) will directly be sent to your email and number.
How to Track Your GST Application?
To track your GST application and to download your GST registration certificate, visit the GST portal (gst.gov.in.) > login via ARN > Dashboard > Status of Application.
The Documents Required for a GST Application
The below-mentioned documents are mandatorily required while registering under GST.
- PAN Card of the applicant.
- Aadhaar card of the applicant.
- Proof of your corporation registration.
- Incorporate the certificate of your business.
- Address Proof and identity proof of directors along with a photo ID.
- Address proof of the location of your corporation.
- The latest statement of your bank account or a canceled cheque.
- Online-based/digital signature.
- A letter of authorization.
What are Some of the Advantages of Registering Under GST?
For Businesses registered under the normal GST:
- The privilege of the input tax credit.
- You can conveniently make sales between different states without any restrictions.
For Businesses registered under composition scheme:
- Compliance is limited.
- You will have a boon of higher working capital.
- Small businesses are liable to pay a lesser priced tax.
For Businesses that volunteer to opt for GST:
- The privilege of the Input Tax Credit.
- You can register on e-commerce platforms.
- The enhanced advantage compared to the other corporations.
- You can make sales between different states without any restrictions.
If you are unable to pay your GST on time, you will be charged with a penalty of 10% of the total tax amount due. If you have constantly dodged paying taxes, you will be charged a penalty of the full amount of the tax due. Therefore, it is essential to play your part in consistently paying GST to benefit you and the country as a whole.