GST Registration Process

 GST Registration is a process by which a taxpayer gets himself registered under GST. Once a business is successfully registered, a unique registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN).

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 Benefits of GST Registration

• Simple and easy online procedure
• Balance scheme for small businesses.
• Higher threshold for registration
•       Improved efficiency of logistics.
•      GST eliminates the cascading effect of tax
•     The number of compliances is lesser
•      Defined treatment for E-commerce operators.
•      The unorganized sector is regulated under GST.

FAQ's Related to GST

 

FAQ's Related to GST

Q. What is GST?

Ans: GST Registration is a process by which a taxpayer gets himself registered under GST.

Q. What is GSTIN?

Ans: GSTIN is a 15-digit unique code. Once a business is successfully registered, a unique registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN).

Q. How to apply GST online?

Ans:

1. Visit the official GST Portal- https://www.gst.gov.in/
2. Click on the Services Tab.
3. Then open Registration> New Registration
4. Add your details and receive your GST invoice in your mail.

Q. How to file GST returns?

Ans: For every GST return filled all invoices and compliance sales receipts are compulsory to submit. Search for the official GST portal- https://www.gst.gov.in/help/returns where you can file your GST return.

Q. Can any kind of business applications for the Composite Scheme of GST?

Ans: No, only businesses with a turnover of which is below the amount of Rs. 1.5 crore or Rs 75 lacs in some cases are eligible.

Q. How to get GST number?

Ans:

1. Visit the official GST Portal- https://www.gst.gov.in/
2. Click on Services, then Registration > New Registration
3. Enter all your official documents and details like PAN number, contact information, and email address.
4. Click Proceed.

Q. What items are exempted from GST?

Ans: The services exempted or not applicable for GST Law are- Poultry, Hotels priced under 1000, stationery, Handlooms, Contraceptives, Education, and Healthcare.

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Type of GST

Following are the type of GST

• The Central Goods and Services Tax (CGST)
• CGSTStand for  Central goods and service tax that replace existing tax like service tax, excise tax, etc

• The State Goods and Services Tax (SGST)

                     SGST Stands for state goods and service tax, which replaces the existing tax like sales tax, entry tax, luxury tax, etc.

• The Union Territory Goods and Services Tax (UTGST)
•                   UTGST Stands for both good and service tax that replaces service tax, excise tax, sales tax, entry tax, luxury tax.
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• The Integrated Goods and Services Tax (IGST) 
•                      Under GST, IGST is a tax levied on all Inter-State supplies of goods and/or services and will be governed by the IGST Act. IGST will be applicable on any supply of goods and/or services in both cases of import into India and export from India

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GST Registration and Type

 

What is GST Registration?

GST Registration is a process by which a taxpayer gets himself registered under GST. Once a business is successfully registered, a unique registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN).

Document Required for GST?

•  Mobile Number
• Emal ID
• PAN Card
• ADHAAR Card 
• Rental Agreement
• Proof of business registration
•  Identity photographs and address proof of persons in charge

How do I register for GST?

Visit the gst.gov.in website and make an application for GST Registration. On submission of all the details and documents, an acknowledgment number is allowed

Following are types of GST

• The Central Goods and Services Tax (CGST)
• The State Goods and Services Tax (SGST)
• The Union Territory Goods and Services Tax (UTGST)
• The Integrated Goods and Services Tax (IGST)