GST Registration is Important for persons and entities supplying goods or services in India, when the aggregate value of supply is more than Rs.20 lakhs per annum
As GST registration is mandatory for person if they fails to register they need to pay penalties and fines.
Procedure of GST Registration includes following points –
• Check Eligibility of your business for GST registration when your turnover exceeds RS 20 Lakhs per annum you are eligible for registration
• Gather all the necessary documents such as pan card , adhaar card, business address proof, bank account details ,business incorporation certificate and other important documents
• Create your account on gst Common portal for GST registration online.
• Fill the application form with correct information and select the appropriate category for registration i.e – regular, composition, or casual taxable person.
• Upload your document as required in application form and submit
• Application will be verified by the GST department and in case of any error you need to provide additional information.
• After Successful submission of application form you will receive unique GSTIN number (GST Identification Number)
• Once you get a GSTIN, you are obligated by laws to keep up with GST laws. This involves submitting regular GST returns, collecting and paying GST on supplies, and maintaining complete records
GST registration is legal requirement in many countries including India. If you face difficulty while applying for GST registration CA Divya will assist you and get your gst registered successfully