Goods and service tax will finally be implemented in India starting July 1, 2017, and the registration for taxpayers and GST practitioners is now open on the GST portal gst.gov.in however, the question of how to register for GST in India and the documents required has many people confused. There are a few important dates in the coming month that are important to file for GSTR and these dates, and the entire process is available on the official government portal for GST. After years of discussion and planning, GST will finally be rolled out in just a few days and as we get ready for this change here is the entire process of GST and the list of people eligible to pay this new and unified tax. GST Ad: Amitabh Bachchan introduces Goods and Service Tax and its motto of One Nation One Tax One Market! Watch video.
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The steps to register for GST are very simple and can be finished in a matter of few minutes if the documents required are all kept ready in hand. The most important question to answer is if you are actually eligible for GST and fulfil the criteria required. Everyone from a casual taxable person to the Non-Resident taxable person and businessmen are taxable under GST if their turnover in a financial year exceeds Rs 20 lakhs (Rs 10lakhs for Special category states) and these tax payers need to register for GST and abide by the dates provided by the government to complete the process of filing GSTR. Here is the complete process of how to register for GST, documents required as well as important dates to remember. Also Read - ITR: Income Tax Return Filing Deadline For FY 2019-20 Extended To Dec 31, Check Details
How to register for GST?
Photo Credits: GST Portal
The process of registration for GST is quite simple. The online portal provides the first form for registration at reg.gst.gov.in/registration/ and the form asks for some basic information like the state of the person or organisation registering and whether they are taxpayers, tax deductor, Tax collector or GST practitioner. The legal name of the business, PAN and Email address and mobile number of the applicant. After this process a one-time password is generated to the registered mobile number and the second form, Form B can be accessed and filled. After both, the forms are filled, and the necessary documents are submitted a GST officer will verify the application and approve the request or ask for more documents. Once the application has been approved the GST registration certificate will be received. Also Read - Businesses Not Ready With GST E-invoicing Get 30-day Grace Period
Who is eligible to register for GST?
The eligibility criteria for registration under GST are based on a set of rules designed by the government and may vary a little in every state. The basic criteria for GST registration are to have an annual turnover higher than Rs 20 lakhs, Rs 10 lakhs for Special category states. This turnover is only eligible to business, casual taxable person as well as the non-resident taxable person who deals in goods and services business in any way. Supply of only those goods/services which are exempt under GST are not counted in this list. A casual taxable person is an Indian who occasionally takes up the supply of only those goods/services which are exempt under GST. A non-resident taxable person is a non-resident of India who follows the same practice.
Documents required for GST registration
The basic documents required for the registration under GST include the PAN of the business without which the registration process for any business cannot take place. In addition to this, the ROC of the company, Memorandum of Association (MOA) /Articles of Association (AOA), Copy of Bank Statement, Declaration to comply with the provisions and Copy of Board resolution are also required to be uploaded on the website. Office documents like Copy of electricity bill/landline bill, water Bill, No objection certificate of the owner and Rent agreement (in case premises are rented). In the case of a partnership firm, the deed of partnership also needs to be uploaded and any extra documents required will be asked after the submission of Form B.
Important dates to remember
Photo Credits: GST Portal
GST registration has already begun on the government portal, and the dates for filing GST returns that people need to remember. The outward sales by business forms need to be filed by the 10th of next month. For example, if the monthly filing is for the month of July then the first GSTR 1 form will be due on August 10. The purchase returns for the business will be filed by the 15th of the next month while the GST Monthly return along with the payment of tax will be due on the 20th of next month. The Periodic GST return for Non-Resident Foreign Taxpayer also needs to be filed by the 20th of next month and Return for Input Service Distributor (ISD) will be due on the 15th. Meanwhile, the GST Return for TDS and E-commerce Operator are due on the 10th of next month and the annual returns for should be filed by December 31 of the next financial year. In addition to this, there is a quarterly filing for GST Quarterly return for Composition Taxpayers, and the due date for this will be the 18th of the month next quarter. For example for the quarter ending on September 30, the due date will be October 18.
The implementation of Goods and Service tax has been awaited for a long time as the government hopes to bring in a unified system and single taxing format all over India. The Narendra Modi government has been planning the taxing system under GST for years now, and after a lot of delays, GST will finally meet its final deadline of July 1, 2017. Amitabh Bachchan has been roped in as the brand ambassador of GST, and the government is trying its best to remove all the uncertainty attached to the new change and make the shift to GST as easy and accessible as possible.