You are aware of the Goods and Services Tax whether you are a client, a business owner, or a service provider (GST). On July 1, 2017, the GST went into effect in India, completely altering the nation's taxation system.

It is, in simple terms, a single indirect tax levied on the value addition that a firm offers through its products and services. Companies are only taxed by the Indian government on their specific offerings at every stage, from manufacturing to distribution, and the final customer is responsible for paying the tax.

The first step in the GST payment process is to register your business with the GST portal. If you are the owner of a start-up, you probably feel the process is daunting. This quick guide will provide you with all the information you require for GST registration for your business.

Who is eligible to apply for a GST number?

Your yearly turnover must be more than one of the following thresholds in order to apply for GST registration:

• The barrier for the manufacturing industry is Rs. 40 lakhs or higher.
• The threshold for the service sector is Rs. 20 lakhs or more.
• The barrier is Rs. 10 lakhs or more for enterprises in the hill states and the northeastern regions.

Additionally, you must apply for GST registration if you meet any of the following requirements:

• You utilise e-commerce platforms like Flipkart or Amazon to sell your products in states other than the one in which you are located.
• You work in the import-export industry.
• You want to make tax invoices for your clients.
• You are a business taking part as a casual taxpayer in an exhibition or event taking place outside of your state.
• According to the reverse charge process, you are taxed.
• You are an Input Service Distributor acting on behalf of a Registered Taxpayer (ISD)
• You run an online store or an aggregator company.
• You offer services for India's OIDAR (Online Information Database Access and Retrieval) from outside.

If your firm fails to register for GST registration while completing the above requirements, it will be subject to a fine equal to 100% of the unpaid tax or Rs. 10,000, whichever is larger.

Types of GST registration

The GST Act allows for numerous forms of GST Registration. Before choosing the best sort of GST Registration, you must be aware of the available options. The many GST Registration types include:

• Normal Taxpayer

The majority of Indian enterprises fall under this category. To become a regular taxpayer, you are not required to make any sort of deposit. The taxpayers who come under this category have no expiration date.

• Composition Taxpayer

You must submit an application if you want to use the GST Composition Scheme. An apartment falls into this category and requires a deposit. Under this category, it is not possible to receive the input tax credit.

• Casual Taxable Person

This includes people who want to open a temporary store or stall. A deposit should be made in the amount of the anticipated GST liability for the duration that the stall or temporary store will be open. This category's GST Registration has a 3-month maximum duration but may be renewed or extended.

• Non-Resident Taxable Person

You must choose this sort of GST Registration if you live outside of India but sell items to people there. Similar to the Casual Taxable Person category, while the GST registration is in effect, you must pay an amount equivalent to the anticipated GST liability. This sort of GST registration typically lasts for 3 months; however, it can be renewed or extended when it approaches its expiration date.

Fees for GST registration
 

The lengthy 11-step procedure of GST registration requires the submission of several business facts and scanned documents. Although there are no fees specified by the GST law for self-registering for GST on the GST portal, doing so with Online Legal India will save you a considerable amount of time and hassle. You can select our GST Registration services, in which case a GST Expert will help you with GST Registration from beginning to end.

Required documents for applying for GST number
 

You must have these documents on hand for applying for GST number.

• Photographs (passport size)
• PAN card of your company
• An Aadhar Card, a passport, or a driver's licence for identity proof
• Proof of your offices' addresses
• a statement, a cancelled check, or a passbook with bank information
• Private Limited Company, Limited Liability Partnership, or OPC Partnership Deed Certificate of Incorporation

Frequently asked questions
 

1. How can I apply for a GST number online?

Online GST registration process step-by-step guide:

• Visit the GST Portal in step one.
• Complete OTP Validation to generate a TRN.
• OTP verification and TRN generation.
• TRN is generated.
• Log in using TRN.
• Submit business data.
• Submit Promoter Information.

2. Is GST registration free?

Registration for GST is free. However, if you don't register for GST, there is a 10% penalty on the tax that is owed.

3. Can I register a GST application myself?

The online GST portal makes it simple to register for GST. Owners of businesses can fill out an online form on the GST site and upload the required paperwork to register. The GST registration procedure must be finished by businesses.

4. Is GST registration required for small businesses?

However, every company that has a fiscal year revenue of more than Rs 40 lakh is needed to register for GST.

5. Does anyone need GST registration for online selling?

All internet retailers are required to register and pay GST. This implies that you must obtain a GSTIN online even if you simply bring in Rs 1 lakh.

Conclusion

If you are providing products or services on an interstate basis, we advise registering for GST application as soon as feasible with the help of Online Legal India. Because avoiding such regulations would subject you to discomfort, operation loss, and possibly severe penalties. Get assistance from a professional who is familiar with GST registration and its characteristics in order to avoid such disagreement. Our team will try their best to revert to your insightful comments as soon as possible, so don't be shy about leaving them.