Important Things to Know About GST Registration in India

As a provider of goods and service tax, if one fails to register themselves under the regime of GST, then they would incur heavy penalties and fines. These fines can go up to 100% of the owed tax amount. While registering for the goods and service tax, one can collect the tax from the customer. Therefore to avoid any conflicts with the legality, one must register under the GST. With the documents required for the GST registration, one can start the procedure of GST registration. Read this article to perceive some of the essential facts related to GST registration in India.

When do you need to get your business registered under GST?

It is extremely important to register under the GST if you own any interstate business, e-commerce business, or business with an annual turnover of above Rs. 20 lakh.

How to get yourself registered for GST?

With the following methods, you can get yourself registered under the goods and service tax.

  • Ensure you have your pan card number, email ID, and mobile number to fill up the registration form.
  • Once you fill the form, you will have to submit the form.
  • Verification of the mobile number and email ID is extremely important. After verifying your PAN number, one should do it with the one-time password that you have to provide.
  • Retain the application reference number that you will get in your email id and mobile number after the completion of your verification
  • Provide the supporting documents required for GST registration of partnership firm where the necessary
  • Fill up the registration form with the necessary information.

After this process, your form will be verified by the authorities, and you will receive a certificate of registration within 3 working days.

Documents required for GST registration

Once you get yourself registered under the goods and service tax, you need to provide the documentation required for the GST registration of partnership firms. Some of these documents include:

  • Certificate of incorporation
  • Photo of the various stakeholders
  • Authorized signatories photo
  • Proof of the business address
  • Proof of the bank account details
  • Copy of resolution in the form of a letter of authorization for acceptance letter

Note: in case of the bank account details, one can provide a canceled cheque, copy of the bank statement or first page of the passbook.

Track the status of GST registration

Without logging into the GST account, you can also check the status of your application. To do that, you need to follow the following steps:

  • Log on to the official website of GST.
  • Click the service tab.
  • Select the registration process
  • Choose the option of track application status.
  • Enter the application reference number
  • Click on the search button.
  • You will get your application status on the screen. Along with that, you can also get it in your email id and registered mobile number.

Apart from that, you can also check the status after you log in with the following information.

  • Log out to the official GST website
  • Select the service tab
  • Choose the registration option
  • Select the track application status option
  • Enter the application reference number
  • Click on the search button
  • You will get here status of the goods and service tax registration.

Every business should get themselves registered under the GST. to register on the goods and service tax can navigate a huge penalty of 10% of the outstanding amount. Before registering themselves under the goods and service tax regime, one should look forward to various GST services.

In the case of intentional tax evasion, the taxpayer needs to pay a penalty of 100% of the owed tax. However, registration is a tedious process, including 11 steps. You need to keep the documents required for GST registration of the partnership firm ready before registering for GST.

Leave a Reply

Your email address will not be published.