GST or Goods and Service Tax, which the legislature of India executed on the first of July 2017, that was probably going to profit the whole nation by extending the tax net and by giving a consistent credit of input tax. Nonetheless, for the successful execution of GST across the nation the overall current Central Excise and Service Tax evaluates need to relocate to GST by doing their enrolment on the GST gateway. The individuals who have a turnover of more than Rs. 20 lakh (Rs. 10 lakh for North East states) in a budgetary year need to complete their enrollment under GST. Those who do inter-state supply or sell products through e-commerce sites must mandatorily register for GST. No threshold limit is applicable to these taxpayers.
Why should I register for GST voluntarily?
The Goods and Service tax is taking India by force. Allowing GST to bring in “One nation one tax” to unite indirect taxes under one authority and facilitate Indian businesses to be competitive on a global level.
On an important note, GST registration is mandatory for businesses with a high turnover, persons with a lesser turnover may also register temporarily under GST.
Advantages of applying voluntarily?
Companies that are lawfully recognised as suppliers of goods or services– the GST would assist them in gaining customers.
Provide an involvement in the tax credit offered to customers– all shopkeepers can issue a taxable invoice and collect GST tax money from customers and as of customers, they can take input credit on every purchase they make.
Becoming more reasonable– large companies will be better off than other small business as buying from them will ensure an input credit.
Takings input recognition– those companies that have willingly listed themselves can assume input credit all by themselves on purchases and input services like lawful fees, session fees etc.
Making inter-state sales without many limitations– They can make inter-state sales without many restrictions (they will be treated as casual taxable persons). Thus, it widens the potential market for SMEs.
Register on e-commerce sites or open own e-commerce website– This will widen the scope of their market further.
Being obedient and having a good rating– Registering for GST will make sure that the industry is acquiescent (because most returns would be automated). This, in turn, will contribute towards having a good GST rating and help to increase the corporate.
Any person who has taken voluntary registration as an option but has not commenced business within six months from the date of registration will have his registration cancelled. Such cancellation will be done by –
- a proper officer OR
- requested by the concerned person himself OR
- on an application filed by his legal heirs, in the case of death of such person
However, the application for cancellation of registration by the concerned person who has registered voluntarily will be only after one year from the date of registration.
How to register for the GST with you Provisional ID and Password?
- All the eligible assesses have already been provided with a provisional ID and password by the Central Board of Excise and Customs, which they will need to log on to the GST common portal where they would be required to fill and submit a form 20 along with the necessary supporting documents.
Log on to the ACES portal using the existing ACES User ID and Password.
You could either follow the link to obtain the Provisional ID and Password or navigate using the Menu option.
Make a note of the Provisional ID and Password provided, in case if a provisional ID is not provided, please refer the Next Step section.
As soon as you have obtained your Provisional ID and Password, log on to the Common Portal of GST using the ID and Password.
How to register for GST once you have you Provisional ID and Password?
- Log on to the GST online Portal
- Fill up the Form part A (PAN, Mobile and email)
- The portal verifies your details by OTP/e-mail
- Upload the required documents as per your business type
- Access and fill in the Form Part B using the received Number
- You will get the Application Reference No. via mobile/email
- The GST officer starts verifying your application – within 3 working days
- The officer approves your GST application
- You get the Certificate of Registration
If the officer asks for more documents and details than the process would continue as follows:
- Officer asks for more documents/details in Form GST-REG-03 – within 7 working days
- Produce the documents along with form GST-REG-04
- Officer approves your GST application
- You get the Certificate of Registration
In the case of rejection by the officer again the process is as follows:
- Officer rejects your GST application
- You will be informed in the form GST-REG-05
The documents that are required to register for GST
- Constitution of taxpayer
- Proofs of place of business
- Bank account details
- Authorization form
GST registration is applicable for you if your business is registered for under Central Excise, Service Tax, Sales Tax or VAT.
The GST registration process has been reopened again from the 25th of June.
Reference & details
- GST Official Link
- CBEC Helpdesk No.-1800-1200-232
- E-mail [email protected]
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