Goods and Services Tax (GST) is a complete indirect tax system implemented in India to simplify the tax structure and boost compliance. Businesses with a specified turnover or engaging in certain activities are mandated to register under GST. In this article, we’ll explore the online GST registration process, required documents, how to track GST registration status, and the cancellation of GST registration process if needed.
What is GST Registration?
GST registration is the process through which a taxpayer registers under the GST law. Upon successful registration, a unique GST Identification Number (GSTIN) is provided to the taxpayer.
Who Should Register for GST?
1.Businesses with an annual turnover exceeding ₹20 lakhs (₹10 lakhs for certain states).
2.Inter-state suppliers of goods and services.
3.E-commerce operators and aggregators.
4.Casual taxable persons and non-resident taxable persons.
5.Input Service Distributors (ISD).
Why GST Registration is Important
1.Legal Compliance: Mandatory for businesses meeting threshold limits.
2.Tax Credits: Allows businesses to claim input tax credits.
3.Expands Business Opportunities: Facilitates inter-state trade.
Step-by-Step Online GST Registration Process
Step 1: Visit the GST Portal
Access the official GST portal at www.gst.gov.in.
Step 2: Select “New Registration”
Under the “Taxpayers” section, click on “Register Now” to begin the process.
Step 3: Fill Part A of the Application
1.Select the type of taxpayer (e.g., regular taxpayer, non-resident taxpayer).
2.Enter details like PAN, mobile number, and email ID.
3.Verify the details with an OTP.
Step 4: Fill Part B of the Application
1.Log in with the Temporary Reference Number (TRN) received after Part A.
2.Complete the application by providing business details, promoter/director details, and bank account information.
Step 5: Upload GST Registration Documents
Submit the following documents:
1.PAN Card: Mandatory for the business or proprietor.
2.Address Proof: Utility bill, rental agreement, or property ownership documents.
3.Bank Account Details: Cancelled cheque or bank statement.
4.Photographs: Passport-sized photos of the proprietor or partners.
5.Business Constitution Proof: Partnership deed, MoA, or AoA.
Step 6: Verification and Submission
1.Verify the application using a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).
2.Submit the application for processing.
Step 7: Receive GSTIN
Once approved, you’ll receive your GSTIN via email and SMS.
Tracking GST Registration Status
Once the application is submitted, you can track its status on the GST portal:
1. Log in to www.gst.gov.in.
2.Click on “Track Application Status” under the “Services” tab.
3.Enter your ARN (Application Reference Number) to check the status.
Common Challenges in GST Registration
1.Incorrect Document Submission: Ensure all GST registration documents are complete and accurate.
2.Mismatch in Details: PAN or other details must match the records.
3.Technical Errors: Use updated browsers and follow instructions for a smooth experience.
How to Cancel GST Registration?
If a business ceases operations or no longer qualifies under GST regulations, cancellation of GST registration becomes necessary.
Reasons for GST Cancellation
1.Business closure or discontinuation.
2.Turnover falls below the exemption threshold.
3.Change in the business structure.
4.Switching to a composition scheme.
GST Cancellation Process
1.Log in to the GST Portal: Use your GSTIN and password to log in at www.gst.gov.in.
2.Direct to the Cancellation Section: Go to “Services” > “Registration” > “Application for Cancellation of Registration.”
3.Provide Reason for Cancellation: Choose the applicable reason, such as cessation of business or transition to a non-taxable turnover.
4.Upload Supporting Documents: Attach documents such as business closure certificates or turnover proof.
5.Submit the Application: Verify the application with a DSC or EVC and submit.
6.Track Status: Use the ARN to track the GST cancellation process status.
Filing Final Returns
Before cancellation is approved, the taxpayer must file a final return (GSTR-10) to clear all liabilities.
Key Points to Remember During GST Registration and Cancellation
1.GST Registration Documents: Ensure all documents are updated and accurate.
2.Check Eligibility: Businesses must assess if they meet the criteria for GST registration or cancellation.
3. Compliance with Deadlines: Timely submission of returns is essential, even during cancellation.
Conclusion
Registering under GST is a critical step for businesses to ensure compliance and take advantage of tax benefits. This guide simplifies the online GST registration process, covering everything from documentation to tracking GST registration status.
Additionally, recognizing the cancellation of GST registration and the GST cancellation process is essential for businesses that no longer fall under GST purview. By following the steps outlined here, you can direct GST-related processes efficiently and focus on growing your business.
For more details, visit the GST portal.
FAQs on GST Registration and Cancellation
1. Is GST registration mandatory for small businesses?
GST registration is required if the business exceeds the turnover threshold or engages in inter-state supply.
2. How long does it take to get GST registration online?
It typically takes 7-10 working days after submission of a complete application.
3. What happens if I fail to cancel GST registration for a closed business?
Failure to cancel GST registration can lead to penalties and compliance notices.
4. Can GST registration be restored after cancellation?
Yes, cancelled GST registrations can be restored by filing an application for revocation within 30 days.
