GST Registration Requirements in India

GST Registration Requirements

A Guide to GST Requirements in India by Enterslice Copyright © 2017 Enterslice ITeS Private Limited. Share Alike. Attribution Required.

The steps are as follows Create a login account on the GST website to initiate the registration process. The requirements for this are: email, PAN, mobile number. (GSTN portal).PAN will be verified automatically online. These details are to be filed in form PART 1 of GST REG-01.

The steps are as follows Submit the application form: once the verification is done, one has to fulfill the registration form.

Documents required for GST Registration are: - Photograph

- Constitution of taxpayer (Partnership deed, COI, etc.)

- Proof of principle place of business (electricity bill, NOC, rent agreement) - Bank Account details

The application through FORM GST REG – 02.

Verification by GST officer Once the application is filled and submitted, then it shall be forwarded to the proper officer who will then examine the application and the documents attached. If everything is found to be in order, then GST registration will be granted within 3 working days.

If any deficiency is found in the application, then it shall be communicated to the applicant within 3 working days in FORM GST REG-03.

After getting the deficiencies, the applicant will have to respond within 7 working days through FORM GST REG-04.

Verification by GST officer No action within 3 working days: If the officer does not respond to you either with deficiencies or approval then the application for grant of registration shall be deemed to have been approved.

Registration Certificate: When the application is approved by the officer, then a certificate of registration in FORM GST REG-06 shall be issued through a common portal. The applicant can easily download the registration certificate from the common portal using their login id passwords.

Verification by GST officer Separate registration for each branch: If you have different branches in different states, then separate registration needs to be applied for each state.

A registered taxable person eligible to obtain a separate registration for business verticals may file separate application in FORM GST REG-1 in respect of each such vertical.

GST Tax Rate A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.

Essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate.

The lowest rate of 5% would be for common use items while there would be two standard rates of 12% and 18% under the Goods and Services Tax (GST) regime targeted to be rolled out from April 1, 2017.

Difference between VAT and GST

Difference between VAT and GST In VAT only goods are taxable, but in GST the difference would have vanished.

GST is the summation of all the indirect taxes’ that are levied in India.

VAT is applied to tangible goods, and GST is applied to both Goods and Services. VAT is applicable for goods sold and not service. Service tax takes care of services rendered. However, GST will be applicable for both products and services , and will have a uniform pricing.

GST is going to be both central and state tax, (there will be two components in GST, CGST, and SGST)

How can I convert my VAT no to GST no?

If you get yourself registered under VAT, you’ll be automatically migrated to GST network, thus you will not have to do the complete process again. Thus, as GST is just a takeover of VAT number will be re-registered into GST automatically at a later point of time

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