What is the Procedure for GST Registration?

GST Registration is a compulsory requirement for the businesses to comply with the tax laws in India. GST is a unified tax, which is a unified tax system in India. It has replaced several taxes such as VAT, Excise Duty and Service Tax by combining it in one. Once the GST registration is done, a GSTIN which stands for “GST Identification Number” provided by the GST authority. This GSTIN allows businesses to collect and remit GST to the government. Let’s get the complete understanding over the GST registration and the stepwise procedure of the registration here. 

Who Needs GST Registration? 

Below Mentioned individuals or business must acquire GSTIN -

• Business engaged in interstate supply of goods and services.
  
  
• Individuals or businesses who sell their products in E-Commerce platforms such as Flipkart, Amazon, Mantra or their own e-commerce website, must have a gst certificate.
  
  
• Casual Taxable persons are also required to have GSTIN.
  
  
• Non-Resident Taxable Persons supplying goods or services in India, need GSTIN.
  
  
• ISD (Input Service Distributors) and Tax Deductors under GST also need GSTIN. 

Stepwise Procedure for GST Registration 

Here are some simple steps given below by following these steps you can apply for the GST Registration:- 

Step 1: Application Submission 

The first step is to file an application for the GST registration. In this step, the applicant has to visit the GST official portal - https://reg.gst.gov.in/registration/ and generate TRN number by filing some details which are required there. 

Step 2: Aadhar Authentication 

When the TRN has been generated, the applicant will login and fill up the GST registration form which is mainly known as “GST REG-01”. Aadhar Authentication is needed to verify the identity of the applicant during this step. Here, the applicant receives an OTP on their mobile number which is linked with the Aadhar which is an essential step for successful authentication. 

Step 3: ARN Generation 

Once the Aadhar authentication and required document submission, an ARN (Application Reference Number) is generated. This ARN helps in monitoring ID that aids applicants to track the status of their GST registration application.

Step 4: Reply on Notice 

After the application submission, the authority checks the documents and other details. If the officer finds any issue and discrepancies, a show cause notice is issued under the Form REG-03. The applicant has to respond to this notice within 7 days from the notice. In this notice reply, the applicant has to submit all the necessary clarification and documents. 

Note: The notice from GST authority is not mandatory if the officer doesn't find any discrepancies they will notify otherwise it will proceed for the next step. 

Step 5: Issue GSTIN 

The GST department issues a GSTIN (Goods and Services Tax Identification Number) along with a GST Registration Certificate (Form GST REG-06) if the application is approved. GST portal allows the applicant to download the certificate.

Note- Once the GSTIN has came by the authority side, the applicant must file GSTIN return timely. These returns can be filed monthly or they can opt quarterly. 

Conclusion 

GST Registration is an essential procedure that ensures businesses comply with tax law and can legally collect and remit GST. The complete stepwise procedure explained above, makes it easier for the businesses to operate transparently. If you also need any assistance with the GST registration and related compliances, Bizfoc professionals can help to streamline the process and assure compliances. 

Frequently Asked Questions 

1. How long does GST registration take?

Mainly, the GST procedure takes 7-10 working days but it is completely depending upon the authority and document verification. 

2. Is there a fee for GST registration?
   There are no government fees for GST Registration. 
3. What happens if my application is rejected?
   If your GST application is rejected or receives any notice with any reasons, you can reapply with the correct details. 
4. Can I voluntarily register for GST?
   Businesses below the turnover threshold can voluntarily register to benefit from benefits such as input tax credits (ITCs) and improved credibility.
5. Who is not eligible for GST registration?
   The following are not eligible for GST registration: Casual Taxpayers, Non-resident Foreign Taxpayers, Entities registered as Tax Collectors.
6. What is a TRN?
   TRN stands for Temporary Reference Number, it is a 15-digit reference number that is generated by completing Part A of the new registration. You will receive the TRN via SMS and Email.

7. How long will the GST credentials be valid?

The GST credentials will be valid for 120 days.

8. Is it compulsory to add a bank account? 

No, it is not compulsory to add a bank account as it is optional and non-mandatory.