GST REGISTRATION

 GST Registration

The process of a taxpayer registering with the GST Council via the official government-run tax system portal is known as GST Registration. When a taxpayer completes the GST Registration procedure, they will be given a Goods and Service Tax Identification Number (GSTIN) (GSTIN). This 15-digit GSTIN is issued by the federal government to aid in establishing whether or not a company is obligated to pay GST.

GST Registration is Required

The following categories of suppliers, regardless of sales, are required to register under the Goods and Service Tax registration guidelines:

• Person supplying online information and database access or retrieval services from outside India to     an unregistered person in India

• Casual and non-resident taxable persons

• Agents delivering on behalf of a taxable person

• Businesses subject to reverse charge

• Input service distributor

• Sellers on e-commerce platforms

• All e-commerce operators

• Person supplying online information and database access or retrieval services from outside India to    an unregistered person in India

GST Registration Procedure

All dealers registered under previous legislation and holding a PAN shall access the common GST site and enroll by authenticating their e-mail ID and Mobile Number.

After enrolment for GST, a dealer will be issued a provisional certificate of registration in Form GST REG-25. Under current law, a dealer who has sought several registrations on the basis of a single PAN will be allowed only one provisional registration. In the event of centralized Service Tax registration, a dealer will be issued a single provisional registration in the state or union territory where he was previously registered.

Within three months, dealers must submit Form GST REG-24 to the GST Portal, along with the   appropriate information and GST registration documents.If the information supplied is accurate and complete, a Form GST REG-06, the final registration certificate, will be issued.

If the information provided is insufficient, a show cause notice will be issued in Form GST REG-27, and a hearing will be held before the provisional registration is cancelled. The provisional registration allotted in Form GST REG-25 would be revoked by issuing an order in Form GST REG-26 if the show cause hearing is unsuccessful or the details are not given within the required time.

If a taxable person is not needed to register under GST but was previously registered (under Central and State law), he can cancel the provisional registration by filing Form GST REG-28 during the transition period.

What Kinds of GST Registration Are There?

The GST council grants the entity a category after it has been registered. The type of category they are assigned will be determined by the nature of their business and the size of their operation. These are listed below.

1. Regular Taxpayer

For the vast majority of Indian businesses, this is the case.To become a regular taxpayer, there is no need to put down any money. Furthermore, such businesses, which are referred to as "Normal Taxpayers," have no expiration date.

2. Taxable Person on a Casual Basis

This is the category that those who want to open a seasonal shop or stand choose. When a stall or seasonal business opens, a casual taxable person must pay an advance sum equivalent to their expected GST liability. The registration's validity is set to three months by default, although it can be extended or changed.

3. Taxpayer composition

This is the option to choose if you want to get the GST Composition Scheme. If they do the same, they will be forced to make a one-time deposit. It should be emphasised, however, that such taxpayers are not eligible for the Input Tax Credit.

4. Taxable Person Who Is Not a Resident

This form of GST Registration is required if an individual resides outside of India yet supplies goods to Indian people. They will be required to make a deposit equal to an estimate of the probable GST liability for the time the GST registration is active, just like Casual Taxable Persons. Furthermore, similar to Casual Taxable Persons, the validity of the same is set at three months by default, although it can be amended or renewed at any time.

                    

What Are The Benefits Of Gst Registration?

If a company registers for the Goods and Services Tax (GST), it will receive the following benefits:

• Recognized as a legitimate supplier of goods or services.

• Accurate accounting of taxes paid on input goods or services, which can be used to pay GST payable on the business's provision of goods or services, or both.

• Is legally permitted to collect tax from his customers and to credit the taxes paid on the goods or services provided to customers or beneficiaries.

• Becoming eligible to receive a variety of other perks and privileges provided by the GST laws.

 

Who is required to obtain a GST registration under the Model GST Law?

According to Section 22 of the CGST/SGST Act 2017, any supplier (including his agent) who makes a taxable supply, that is, a supply of goods and/or services that are subject to GST, and whose aggregate turn over in a financial year exceeds the threshold limit of twenty lakh rupees, is required to register in the state or union territory of Delhi or Puducherry from which he makes the taxable supply.

This threshold limit for registration obligation is ten lakh rupees in the case of eleven special category states (as defined in Article 279A(4)(g) of the Indian Constitution). Furthermore, Section 24 of the Act specifies specific categories of suppliers who must register even if their total revenue is less than the threshold level of 20 lakh rupees.

An agriculturist in respect of the provision of his agricultural produce, as well as any person exclusively making supply of non-taxable or totally exempted goods and/or services under GST law, shall not be required for registration, according to Section 23 of the Act. click here