gst registration is mandatory for all businesses selling goods or services in India. The registration process is simple and quick, and there are many benefits of registering for GST. These include decreased tax liability, easier compliance, and access to new markets. If you’re not already registered, you can apply for a GST number online through the Business Registration Service. You can also register for other taxes, such as payroll tax and excise duty, at the same time.
To get started, visit the official GST website and click on ‘Register’ under the ‘Services’ menu. Select ‘New registration’ and choose ‘Taxpayer’ from the drop-down list. Complete the requisite information, such as the legal name of the business and the state in which it is registered. Verify the details by entering the one-time password (OTP) sent to your email ID and mobile number. Once your information has been verified, you will be given a Temporary Reference Number (TRN). Make a note of it.
You will need to upload a variety of documents click here to submit your GST registration application. The types of documents required depend on the type of business you operate. For example, if you’re a manufacturer, you may need to provide the name and address of your factory and other related information. You can also find helpful tips in the ‘Documents and Checklists’ section of the official GST portal.
Once you’ve uploaded all of the required documents, you can move on to completing Form GST REG-01. The application includes various annexures that you must fill in, including the details of additional places of business (if any), official contact details, and the nature of ownership of the premises. It also requires the names and positions of the authorized signatories for GST matters.
The reason to obtain registration is also specified on the application. The date on which the liability to register arises is usually the first day of the financial year. The application must be filed within 30 days of this date.
A common Aadhaar authentication link will be received by the promoters/partners and the authorised signatories listed in the registration application to verify their identities. This is done to ensure that only authenticated individuals are submitting the application. The Aadhaar verification link is valid for 15 days.
After submitting your GST registration application, you will receive an acknowledgement from the government. This will be followed by the issuance of a GSTIN, which is used to file GST returns. The GSTIN can also be used to purchase goods or services from suppliers registered under the tax. However, it’s important to note that the GSTIN isn’t necessarily transferable between different taxpayers. If you change your business structure, you’ll need to get a new GSTIN for the new entity. This is why it’s so important to carefully consider your options before applying for a GSTIN. If you’re unsure whether or not you need a GSTIN, it’s a good idea to consult an accountant or another professional.