GST New Registration Process | Free of COST | घर बैठे GST रजिस्ट्रेशन करे | Step by Step Procedure
GST New Registration Process - Free of COST | घर बैठे GST रजिस्ट्रेशन करे | Step by Step Procedure
Every business carrying out a taxable supply of goods or services under GST regime and whose turnover exceeds the threshold limit of Rs. 20 lakh/ 10 Lakh as applicable will be required to register as a normal taxable person. This process is of registration is referred as GST registration.
But small businesses whose turnover is less than the threshold limit of turnover i.e. Rs 20 lakh can also take registration on voluntary basis. If a person is registered at GST portal on voluntary basis then such registered person shall be treated as NORMAL TAXPAYER and liable to charge GST on supplies and file monthly and annual returns.
GST registration is critical because it will enable you to avail various benefits that are available under the GST regime. One such benefit is to avail seamless input tax credit. Multiple taxes are being clubbed under GST and thus the cascading of taxes that is prevailing currently will no longer be the case.
Also, timely registration will help you avoid any kind of interface with tax authorities.
All existing Central Excise and Service Tax assessees and VAT dealers will be migrated to GST. To migrate to GST, assessees would be provided a Provisional ID and Password by CBEC/State Commercial Tax Departments.
Provisional IDs would be issued to only those assessees who have a valid PAN associated with their registration. An assessee may not be provided a Provisional ID in the following cases:
The PAN associated with the registration is not valid
The PAN is registered with a State Tax authority and Provisional ID has been supplied by the said State Tax authority.
There are multiple CE/ST registrations on the same PAN in a State. In this case, only 1 Provisional ID would be issued for the 1st registration in the alphabetical order provided any of the above 2 conditions are not met.
The assessees need to use this Provisional ID and Password to login to the GST Common Portal (https://www.gst.gov.in) where they would be required to fill and submit the Form 20 along with necessary supporting documents.
An offender not paying tax or making short payments has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000. The penalty will be high at 100% of the tax amount when the offender has evaded i.e., where there is a deliberate fraud.
However, for other genuine errors, the penalty is 10% of the tax due.
Multiple Registrations Under GST
A person with multiple business verticals in a state may obtain a separate registration for each business vertical.
PAN is mandatory to apply for GST registration (except for a non-resident person who can get GST registration on the basis of other documents).
A registration which has been rejected under CGST Act/SGST Act shall also stand rejected for the purpose of SGST/CGST act.
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