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Everything about GST Registration Process

GST Registration refers to the steps involved in registering and recognising a business for GST purposes.

Any company with an annual aggregated turnover of at least Rs. 40 lakhs is required to register as a regular taxable person under the GST, acquire a special GSTIN, file regular GST returns, and pay all tax obligations on time.

Businesses must submit a specific set of documents with their online GST registration applications, which vary based on the sort of business they are attempting to register.

Below, we have outlined all of the documentation needed to register various sorts of enterprises.

The government has made GST registration mandatory, and failing to do so could result in serious repercussions for your business as well as legal action.

How Do I Register for GST?

GST registration requires a number of processes. We have divided it into 4 easy portions for your convenience as the reader:

  1. Generation of the GST Application Form
  2. submitting a GST application
  3. Registering for the certificate of digital signature
  4. Verifying and submitting the required GST registration documents, along with the GST application form

Documents Needed to Register for GST

Due to the lengthy application process for the GST, there are certain GST registration criteria that depend on the type of business you are in.

To obtain a GST Registration, you must submit a set of documents, which vary based on the type of business.

For your convenience, we have divided the list of GST registration paperwork into the several business types listed below.

  • PAN Card
  • Aadhar Number
  • Photo
  • Proof of a business address
  • Bank Statement

Consequences of failing to register for GST

Tax evasion and fraud are crimes, so failing to register for GST registration even if you are eligible is a criminal.

High fines, a minimum of Rs. 10,000, 10% of the tax owed (in cases of sincere errors), the amount of tax that was stolen, and even jail term are possible outcomes.

Businesses that qualify for GST must register as quickly as possible to avoid suffering harsh fines that could harm their operations.

Knowledge about GSTIN Format

Every registered person’s GSTIN serves as their unique identification number under the GST taxation framework.

The Goods and Service Tax Identification Number (GSTIN) has shown to reduce the hassle of maintaining many identification numbers, as it was in the days before the introduction of the GST.

In this part, we’ll attempt to make the GSTIN format easier to grasp.

What is GSTIN?

Goods and Service Tax Identification Number is what this term refers to.

It is a registered person’s GST identity number, as the name would imply.

Every GST-registered person receives a 15-digit number based on their PAN card credentials.

The verification process for GST registration

In contrast to the former indirect tax system, you do not need to keep track of separate identification numbers for each tax you previously paid.

All praise belongs to the GST for making things easier and giving each registered firm a special GST Number, i.e. (GSTIN).

However, each person involved in a transaction must verify the GSTIN number they are working with.

The Government of India’s GST Portal offers a relatively straightforward answer to the issue of GSTIN number verification.

Suggested Read: GST Filing