Everyone in India would have already heart of the Goods and Service Tax or GST which was brought into effect on July 1, 2017. The tax has since then been used to make things simpler for customers and businesses by creating a single indirect tax which can be charged on the value addition of a business’s products and services. Along every stage of production, companies get taxed, and the customer ends up paying for it at the end of the process. If you are an entrepreneur looking to get GST registration for your company, you may find the process overwhelming at first, but it is good to not be daunted by it. Here’s all you need to know about the GST registration process:

Eligibility

In order to be eligible for GST, you need to have an annual turnover which should meet the final requirements:

  1. Manufacturing Sector – Rs. 40 Lakh or more
  2. Service Sector – Rs. 20 Lakh or more
  3. Companies in Hills or North-Eastern States – Rs. 10 Lakh or more

Moreover, it is important for you to apply for GST if you belong to the following criteria:

  1. You sell goods or services in multiple states
  2. You use e-commerce for selling
  3. You are in the import-export business
  4. You need to generate tax invoices for customers
  5. You are participating as a causal taxable player outside your state
  6. You are taxable
  7. You are an agent working on behalf of someone who is a registered tax payer
  8. You operate an e-commerce site
  9. You are overseas

Which Documents are Required for Registering GST?

For registering GST, you will need to keep a few documents ready in advance. The documents required for GST registration are:

  1. Passport Sized Photographs
  2. Company PAN Card
  3. Identity proofs such as Aadhar Card, Passport, or Driving License
  4. Proof of Address for Your Office
  5. Bank Statement or Cancelled Cheque
  6. Certificate of Incorporation for Private Company or Company Type
  7. Partnership Deed

What are the Steps Needed to Get GST Registration?

GST Registration can be done online via the GST portal. The process is normally free of charge, or you can hire an expert to go through it for you and pay them a nominal fee. The steps needed to get registered are:

  1. Under Services, click on Registration and then on New Registration.
  2. Select the New Registration Option, and then click on Taxpayer. Fill out the form that appears.
  3. You will soon receive the OTP which you should fill in the next screen.
  4. After this, a TRN will be generated which will also be sent to your mobile number for future reference.
  5. Go Back to New Registration and select the Temporary Reference Number option and input the required details.
  6. Confirm OTP again
  7. Fill out your application
  8. Upload the documents
  9. Select the declaration checkbox and submit

If you find the above process daunting, contacting an expert will help make your job easier. Get in touch with PKG now, and we will handle everything from your registration process to helping you arrange the documents required for GST registration.