what is GST?
GST is an indirect tax that is levied on the supply of goods and services. The Act was passed in the Parliament on 29th March 2017 and came into force on 1st july,2017. The law of GST is replaced by many indirect tax laws of India that previously existed. It is applicable for every register dealers. It is divided into five different tax slabs rate- 0%, 5%, 12%, 18% and 28%.
what document required for GST registration?
The following documents must be required to submitted by persons or entities for GST registration.
- PAN Card of the Business and Applicant:- PAN (Permanent Account Number) is required for GST registration of the business and authorized signatories/applicant (Directors / Partners / Proprietor).
- Proof of business Place:- Primary location of Principal Place of Business where a taxpayer’s business is performed within the State.
- India’s Valid bank account number:- mention the details of the bank accounts maintained for conducting business, also need to fill the Indian Financial System Code (IFSC) number of the same bank and branch.
- Valid Phone Number and Email address of India:- Primary Authorized Signatory is required to be filled at the time of GST registration. A valid mobile number and an email address.
- Other details:-
– Soft copy of Authorized Signatories photo
-Goods and Services List
– Company Incorporation certificate
-Appointment of Authorized Signatory Proof (Letter of Authorization or copy of board resolution)
-It is important to have digital signature (class 2 digital signature) of the person who is authorized to sign the GST application of the Companies and LLP’s.
-Other details such as Professional Tax, State Excise License details (If applicable) of regulatory registration.
What is process of GST?
GST is a online registration process through a portal maintained by Central Government of India. GSPs (GST Suvidha Providers) appointed by govt. of registration process to help businesses.
GST registration process need to GSTN, Process are:-
- An applicant should need to submit his/her mobile number, email address and PAN in GST REG–01 Form on the GSTN portal, otherwise Facilitation centre (which is notified by the board or commissioner).
- PAN should be verified by GST Portal. E-mail address and Mobile number are verified with an OTP (one-time password).
- Once the verification is complete, the applicant will be receive reference number by an application on his/her registered mobile number and E-mail. The confirmation should be issued to the applicant in electronically FORM GST REG-02.
- An applicant should needs to fill Part- B Form of GST REG-01 and determine the reference number of application. After attaching required documents you can submitted the form.
- GST REG-03 Form will be issued, If any other additional information is required. An applicant needs to be respond in GST REG-04 Form with which is required information within 7 days (working days only) from receipt date of GST REG-03 Form.
- If you have fulfilled all required information through Form GST REG-01 or Form GST REG-04, the registration certificate in Form GST REG –06 for the principal place of business along with for every additional place of business will issued to an applicant. If the person has multiple business within a state, he can file application in separate for GST REG-01 registration Form for each and every business verticals. If the submitted details are not satisfactory, the registration of application is rejected of using Form GST REG-05.
- If applicant who is required to deduct TDS or accumulate TCS should be submit an application for registration of GST REG – 07 Form. If he is no longer liable to deduct or collect tax then the officer can cancel and Connect for cancel of registration.