GST News: Know the complete process of GST Registration
GST Registration Process: Want to do GST registration for starting a new business? First of all, it is important to know what is GST. GST refers to the Goods and Services Tax, an indirect tax that is charged on the provision of goods and services in India. Previously, companies had to pay a variety of taxes such as VAT, Service Tax, Purchase Tax, Excise Duty, and others. However, GST was established in 2017 to make all of this easier. Know more about GST for business and more.
Why GST Registration is Important?
If you want to start a new business, it is necessary to register for GST to avoid tax evasion charges. GST REG-01 form is required for GST registration. The form is divided into Part A and Part B which must be filled separately. You may also fill it out online from the comfort of your home for free. To begin GST registration, go to the GST site at https://www.gst.gov.in/. Follow these steps:
Step 1: Click on registration in the services tab. Click on new registration.
Step 2: You will be given Part A of the form. You will be required to fill out some important information such as your state, business name, PAN, email, and cellphone number.
Step 3: An OTP will also be provided to validate your cellphone number and email address. After entering the OTP, click the Proceed button.
Step 4: Following verification, you will be given a temporary reference number, i.e. a 15-digit TRN number, to fill out Part B. This number is only valid for 15 days.
Step 5: Part B of the form requires you to return to the new registration page and click on TRN. Enter your number and captcha code below, followed by an OTP verification.
Step 6: On the next page, you will see the status of GST REG-01 like a draft. There are about 27 different points under 10 sub-heads in Part B of GST registration, which have to be filled.
Step 7: You must complete the remaining 25 points since the 26th and 27th are for permission and self-verification. Please note that all 25 points should be filled in carefully as even one mistake will lead you to cancel the registration and do it again.
