In India, the GST, also known as the Goods and Service Tax, has replaced a number of indirect taxes such as excise duty, VAT, services tax, etc. On March 29, 2017, Parliament adopted the Goods and Service Tax Act, which went into effect on July 1 of the same year.

In other words, the Products and Service Tax is applicable to the provision of goods and services (GST). In India, each value addition is subject to the thorough, destination-based Goods and Services Tax Law.

What is GST Registration?

The procedure by which a taxpayer registers for Goods and Service Tax is known as GST registration (GST). 

Once the registration procedure is finished, the Goods and Service Tax Identification Number (GSTIN) will be provided. 

This 15-digit GSTIN issued by the central government assists in identifying whether a business is required to pay GST.

A business must register as a regular taxable entity under the GST law if it has a turnover of more than 40 lakhs. This is the procedure for GST registration. The turnover for someone who operates in hill states and North Eastern states is ten lakhs. Within six working days, the GST registration process should be finished.

The online GST site is where you can register for GST if you want to. To register, you must complete a form on the GST portal and upload the required paperwork. If the GST registration process is not completed, severe fines will be assessed for non-registration.

Who is Eligible to Register Under GST?

The following people and businesses need to register for GST:

• People who registered for tax services prior to the implementation of the GST law.
• Non-Resident Taxpayer and Temporary Taxpayer
• People who use the reverse charge mechanism to pay their taxes
• All online store aggregators
• Companies whose annual revenue exceeds Rs. 40 lakh. The business's annual revenue must surpass Rs. 10 lakh in Uttarakhand, Himachal Pradesh, Jammu & Kashmir, and the North-Eastern states.
• Distributors of services and representatives of suppliers that sell their products through e-commerce aggregators should be entered.
• Other than individuals who are registered as taxable persons, those who provide database access and online information to people who live in India from outside of India.

Types Of GST registration:

The GST Act permits a variety of GST Registration formats. 

You must be informed of your possibilities before deciding on the appropriate type of GST Registration. Among the numerous GST Registration types are:

Normal Taxpayer

The majority of Indian enterprises fall under this category.

To become a regular taxpayer, you are not required to make any form of deposit. 

There is no deadline for taxpayers who fall under this category.

Casual Taxable Person

This includes those who want to set up a pop-up shop or market stall. For as long as the stall or temporary store will be open, a deposit in the amount of the expected GST liability must be provided. The GST Registration for this category may be renewed or extended up to a maximum of three months.

Composition Taxpayer

To use the GST Composition Scheme, you must submit an application. This type of property includes apartments and calls for a deposit. The input tax credit cannot be claimed under this category.

Non-Resident Taxable Person

If you reside outside of India but sell goods to customers there, you must choose this type of GST Registration. Similar to the Casual Taxable Person category, you are required to make payments while the GST registration is active. a deposit comparable to the expected GST liability. The average duration of this type of GST registration is three months, although when the expiration date draws near, it may be renewed or prolonged.

Key Facts about GST Registration

Let's look at some of the crucial details about GST registration:

• Complete the GST registration process without paying any expenses.
• Businesses will be charged 10% of the outstanding balance or Rs. 10,000 if the registration process is not completed. Tax evasion will result in a penalty equal to 100% of the amount owed.
• Businesses must register for GST if their annual revenue exceeds Rs. 20 lakh.
• If the supply is made across many states, GST registration is required in every one of them.

How to Complete the Online GST Registration Process in Steps

• The GST Portal can be found at the Government website.
• To register, select the "Register Now" link under the "Taxpayers" tab.
• Click on "New Registration."
• Complete the information below:
• Choose "Taxpayer" from the drop-down selection under "I am a."
• Choose the appropriate district and state.
• Type the company's name here.
• Enter the company's PAN here.
• Put your email address and mobile number in the appropriate spaces. 
• OTPs will be sent to the provided telephone number and email address, both of which need to be functional.
• Enter the image from the screen, then select "Proceed."
• Enter the OTP that was issued to the email ID and mobile number in the appropriate places on the following page.
• Click "Proceed" once the details have been entered.
• You will see the Temporary Reference Number (TRN) on the screen. Note the TRN down.
• Go back to the GST portal and click "Register" under "Taxpayers."
• "Temporary Reference Number (TRN)" should be chosen.
• Then, select "Proceed."
• On both your registered mobile number and email address, you will get an OTP. On the following page, enter the OTP and press "Proceed."
• The next page will provide information on the status of your application. Click the Edit icon that will be on the right side of the screen.
• On the following page, there will be 10 sections. The required paperwork must be provided, and all pertinent information must be filled out. The following is a list of the documents that must be uploaded:
• Photos Business address documentation
• Information about banks includes things like account numbers, bank names, bank branches, and IFSC codes..
• Form of authorization
• The taxpayer's legal status.
• Check the declaration on the 'Verification' page before submitting the application using one of the techniques listed below:
• Utilising an electronic verification code (EVC). The registered mobile number will receive the code.
• By use of e-Sign. The cell phone number associated with the Aadhaar card will receive an OTP.
• Companies that are registering must submit their applications using a digital signature certificate (DSC).

When it's done, a success message will show up on the screen. 

• The Application Reference Number will be sent to the registered email address and cellphone number (ARN).
• On the GST portal, you can look up the ARN's status.

Documents Required for GST Registration

Let's look at the paperwork needed to finish the GST Registration process:

• PAN card
• Aadhaar card
• Business address proof
• Bank account statement and cancelled cheque
• Incorporation Certificate or the business registration proof
• Digital Signature
• Director’s or Promoter’s ID proof, address proof, and photographs

Letter of Authorisation or Board Resolution from Authorised Signatory

GST Registration Via Authentication of Aadhaar:

New firms can ensure their GST registration with the use of Aadhaar. The procedure is quick and easy. The revised procedure became active on August 21, 2020. The following is a description of the Aadhaar authentication process:

• You will have the option to select Aadhaar authentication when you register for GST registration.
• Choose "YES." The registered email address and mobile number will receive the login link.
• Select the link for authentication.

After entering the Aadhaar number, choose "Validate."

• An OTP will be given to the registered mobile number and email address once the details have been verified.
• To finish the procedure, enter the OTP. The new GST registration will be sent to you in three working days.

Why should you register for GST?

The long-term benefits of GST registration for business owners are numerous. These consist of:

• The amount of tax you pay to the government can decrease because you just have to cover the value addition made by your company and avoid paying additional "tax on tax."
• For your customers, e-commerce platforms, government tenders, banks and financial institutions, MNCs, and more, the GSTIN serves as a sign of authenticity. These organisations won't work with you if you don't register for GST.
• There are fewer compliances you need to adhere to because under GST only one return needs to be filed.
• GST provides precise regulations on the interstate movement of products for e-commerce brands that were not previously defined.

In the end, GST registration gives your company the legal ability to operate and establishes your brand's credibility. GST registration is the first step to effectively managing your business taxes because the GST portal has made many activities, from applying to filing returns, simpler.

Conclusion: 

Whether you are a customer, a business owner, or a service provider, you are aware of the Goods and Services Tax (GST). India's taxation structure underwent a thorough overhaul on July 1st, 2017 with the implementation of the GST. Simply said, it is a single indirect tax assessed on the value addition that a company provides through its goods and services. The Indian government only levies taxes on businesses' specific products at every level, from production to distribution, and the final consumer is in charge of paying the tax.