Simplified GST Registration Procedure

Goods & Service Tax is a significant change in the indirect tax regime of India. It came into power from 01st July 2017. Presently, it has been over a year since its establishment yet at the same time, individuals are thinking that it is hard to understand.

It is in indirect tax being required on the supply of products and services. It is a utilization based tax. It has a four-level structure.

It implies altogether there are four kinds of rates being exacted on various classes of goods and services. The rate ranges from 5% to 28%, where 5% is imposed on important products and 28% being the most noteworthy tax rate is demanded on luxurious goods.

GST has subsumed many major taxes like Excise Duty, Service Tax, (VAT), (CST), and so forth. It is premised upon the idea of “One Nation One Tax”.

Notwithstanding, compliances are being expanded in the new structure. Previously, quarterly and half-yearly returns were being documented.

In Goods and Service Tax month to month returns are to be recorded by specified assesses (depending upon the turnover). Late Filing or no filling of Profits on time will involve punishments and interest.

Enrolment under Goods and Service Tax (GST) routine will give accompanying benefits to the business:

• Legitimately perceived as a provider of goods or services.

• Appropriate bookkeeping of charges paid on the input goods or services which can be used for the payment of GST because of the supply of goods or services or both by the business.
• Legitimately approved to gather tax from his buyers and pass on the credit of the duties paid on the goods or services provided to buyers or beneficiaries.

It is compulsory for you to enroll for GST and have a GSTIN if:

• You have a yearly turnover limit above Rs.20 lakh for your intrastate business.

• Your business is situated in any of the listed special states, (for example, Assam, Jammu and Kashmir, Himachal Pradesh, and so forth.) has a yearly turnover of over Rs.10 lakh.

• If you claim an online business.

• If you claim an inter-state business.

• If you are supposed and have to pay tax under reverse charge.

• In the event that you are required to pay tax under government obligation under Segment 9, sub-segment (5).

• If you are a non-resident liable to pay taxes producing taxable supply.

The New GST Registration online procedure is very simple. New GST registration procedure will be online through web portal maintained by the Central Government of India. Govt. will likewise name GSPs (GST Suvidha Providers) to assist organizations with the New GST Registration procedure.

1. Sign on to www.gst.gov.in

2. Click on the “service bar” which is located on the top of the page and click on “Registration” from the three alternatives “Registration” “Payments” and “User Service”.

3. Select “New Registration”.

4. Fill out GST REG-01 using your PAN, email ID and mobile number and submit the same.

5. In part A of the form, fill the details like the lawful name of the business, area of the business, location of your business account, another contact number and email address.

6. The details will be checked by the portal through an email-affirmation and one-time password (OTP) after one-time password after PAN, mobile number and email ID verification.

7. You will have to submit the documents which will rely on the kind of your business.

8. Submitting Part B of the form

9. You will receive an APPLICATION Reference Number by means of email or Instant message to affirm the effective completion of forms.

10. Keep the application reference number [ARN] sent to your mobile number and email ID after verification is complete.

11. Put in your ARN number and attach required documents where required.

12. In case additional information is required then fill out the automatically generated GST REG-03 form.

13. After the investigation of the form and documents, the GST official will either favour your application or either dismiss on the grounds of other essential documents required for New GST Registration.

14. A certificate of registration will be issued to you within 3 working days after verification of all information submitted.

• PAN card of the business.

• Evidence of constitution like partnership deed, Memorandum of Association (MOA) /Articles of Association (AOA), certificate of incorporation.

• Documents related to place of business like electricity bill or rent agreement.

• A cancelled check of your financial balance demonstrating the name of the record holder, MICR code, IFSC code, and bank branch details.

• Approved documents like List of partners with their identity and address proof in case of partnership firm or List of administrators with their identity and address proof in case of a company.

1. Do I have to pay GST on exports?

No duty will be payable on goods or services according to the GST law. … Basic Customs Duty (BCD) will be imposed on the import of goods in addition to IGST. As to import of services, the service recipient will have to pay tax on the services if such services are given by an individual living outside India.

2. Is GST registration compulsory if you are selling product through Amazon or eBay?

Yes, you need to register for GST for selling on eBay and Amazon or for Web-based business. Every one of the dealers selling goods/services online should need to get enrolled under GST even if their turnover is under 20 Lakhs for asserting the tax deducted by aggregators.

3. Is GST registration compulsory if I am not selling goods or services in India?

As per GST, every international sales deal will be treated as Intra — State sales that are a deal between two states of India. So online business administrators should give/deduct charge on products/services sold/gave. GST says all the tax charged on export will be returned after official formalities. This implies GST number is essential for selling on ebay.com or some other eBay international website.