A Few Steps You Need to Follow for GST Registration

GST registration is a mandatory process for any business entity supplying goods or services in the country. The only criteria for a business to be eligible for GST registration is a turnover of more than Rs 40 lakh. In a few instances, a lack of a GST registration can make businesses vulnerable to penalties under the GST Act.

GST registration entails a variety of benefits for businesses and the economy. The total indirect taxpayer base in the country has increased by 50% with the implementation of the Goods and Services Tax. This article focuses on the steps you will need to follow for your business's GST registration.

GST Number: A Breakdown

• The GST number is a unique 15-digit number that has directly replaced the Tax Identification Number (TIN).
• The initial two digits of the GST number are the State Code.
• The 13th digit represents the total amount of times that a business entity has registered within a particular state
• The 14th digit of the GST number represents 'Z' by default
• The last digit of the GST number is the check code and can include a number or an alphabet

When to File for a GST Return?

• GSTR-1: Filed monthly by the registered taxable supplier. Due on the 11th of every month
• GSTR-2: Filed monthly by the registered taxable recipient. Due on the 15th of every month
• GSTR-3: Filed monthly by the registered taxable person. Due on the 20th of every month
• GSTR-4: Filed quarterly by the composition supplier. Due on the 18th of the month succeeding the quarter
• GSTR-5: Filed monthly for the non-resident taxable person. Due on the 20th of every month
• GSTR-6: Filed monthly for the input service distributor. Due on the 13th of every month
• GSTR-7: Filed monthly for authorities carrying out the tax deduction at the source. Due on the 10th of every month
• GSTR-8: Filed monthly by the tax collector or e-commerce operator. Due on the 10th of every month
• GSTR-9: Filed annually by the registered taxable person. Due on 31st December of the next fiscal year
• GSTR-10: Filed once the GST registration is canceled by the taxable person whose registration has been surrendered or canceled. Due within 3 months from the date of cancelation.
• GSTR-11: Filed monthly by a person with UIN and claiming a refund. Due on the 28th of the month following when the statement was filed.

GST Registration: The Complete Process

• Open the official portal, go to services, registration, and opt for new registration
• Begin with Part-A of the registration by selecting the option 'taxpayer' and inputting the state and district from the menu
• Type the name of your business and enter the business PAN details
• Enter your email address and mobile number. The number you enter here will receive all the OTPs
• As soon as you click on proceed, you will receive the OTPs on your mobile number and email ID. You can enter the one-time password or select RESEND OTP to receive it again
• You'll get the 15-digit temporary reference number (TRN). This is required to complete Part-B of the registration in the next 15 days.
• Visit the portal once more and click on 'new registration.'
• Click on Temporary Reference Number and enter the TRN along with the captcha code to proceed
• Input the OTP that you receive on your registered mobile number and email address
• You will see the status of your application as 'drafts'. Click on the edit icon.
• The Part B of the registration would require you to submit all the required documents and required information in 10 different sections
• Once you complete Part-B, you will be notified of a successful application, and an Application Reference Number (ARN) is sent to your registered email address and mobile number
• GST will start applying to your business as soon as all the data is authorized

The Road Ahead