GST, i.e., Goods and Services Tax is levied on sales, consumption and manufacturing of goods and services pan India. It is a recent tax reform that has helped businesses in streamlining their tax process and played a major role in improving overall economic growth of the country.
Here is a step-by-step process to apply for GST registration:
- Go to the GST portal and click on ‘Services’.
- Once you land on this page, click on ‘Registration’ and select ‘New Registration’
- Fill in the details under Part A, like name of the business, business PAN, email address, mobile number, state, district, etc. and click on ‘Proceed’.
- Enter both the OTPs, one that you received on the email and other on your mobile number and then click on ‘Continue’.
- A 15-digit Temporary Reference Number will be shared on your email ID and mobile number via SMS, which you can note down for your reference. The Part B details should be filled within the next 15 days from when you have received the TRN.
- Visit the GST portal again to apply for GST registration and select the ‘New Registration’ tab.
- Here, select TRN and enter your TRN number and the captcha code. Then, click on ‘Proceed’.
- Enter the OTP you receive on your mobile number and click on ‘Proceed’ again.
- You will be able to see that your application is under the Draft state. Here you can click on the edit icon to add remaining details.
- Fill 10 sections under Part B and then submit required documents, like photograph, proof of place of business, verification and authentication of Aadhaar (if you choose that route), bank details, constitution of the taxpayer etc.
- Under the Business Details section, enter your trade name, business constitution and district. Note that the trade name is different from the legal name of your business.
- You can then select Yes or No on the opt-in toggle for composition.
- Enter other details like the commencement date of your business, registration period that is required, business turnover, tax liability, etc.
- Under the ‘Reason to obtain registration’ pick from the options available in the dropdown.
- Once all the details have been filled in, an ARN (Application Reference Number) will be generated.
- Go to the ‘Verification’ page, tick on the declaration and submit your application using DSC (in case of a company or LLP), OTP for e-sign process or EVC.
- A message will then display when the application is successfully submitted and the ARN will be mailed to your registered email and mobile number.
- To check the status of your application you simply have to visit the GST portal and enter ARN.
Failing to register for GST law could mean that you would incur hefty fines going up to even 100% of the tax amount that is due. It is mandatory to register for GST to avoid any conflict with the law and keep your books clean and debt-free.