Steps to register for GST 2017
GST is one of the major tax reforms that happened in INDIA since first july 2017.This is indirect tax.And GST has changed the traditional tax system in INDIA.Also know what is GST
From 1st JULY on all former taxes like VAT,EXCISE,CUSTOM DUTY etc have been abolished and GST has taken place all of these taxes,hence making single tax system in INDIA.
We have already written an article on GST.You can visit this page.Here in this article we will concentrate only on GST registration.Let’s follow along:
first of all you need to know that which traders,shop-keepers need to register for GST.Following are the must-have conditions for GST registration:
compulsory GST registration
1. if your turn-over for last financial year is above rs 20 lakh.Then you will have register for GST.
2. If your turn over is below 20 lakh but you do an inter state transaction or business,you will have to register for GST.
1.If your turn over is 20 lakh or below,you may opt out of GST registration.
2 your transactions with respect to your business must take place place within the state in which you living.
3. if you are pursuing any inter-state business then you must register for GST.
registration for GST:documents needed
1.further GET all your documents related to your personal information like Aadhar, ready.This is called KYC on customer side.
2. Get all your documents related to your business ready Like your company or shop name,nature of business etc.This is called KYC on BUSINESS side.
Five steps for GST registration:
- log in to GST online portal.
- fill carefully the form A part,here provide your PAN,MOBILE NO and email.
- GST portal will verify all these details by sending OTP to mobile no. and email id.
- upload the documents like photos,business KYC,bank details,place of business. related to your business online.
- now it’s time to fill form-B.
- you will get application reference no via email/mobile no.
- GST OFFICERS will verify your application within three days.
- after successful verification your GST registration is done.
- if your registration is not done then you will be sent a communication for further details in form GST REG-03
- NOW you will have to respond this form within 3 days by filling GST REG-04.
- If you get successful registration,you will get form GST REG-06 on email,which will have your GST registration confirmation.
conclusion: It is always better to register for GST.IF you want to survive your business in the long run.Have a safe and secure business by registering for GST.