With the Goods and Services Tax (GST) turning into a reality on July 1, 2017, it is vital to comprehend who needs to enlist for GST, how to enlist your business for GST, and what you requirement for business enrollment under GST administration.

Way to sign up current taxpayers for GST

A business with benefit impose or any VAT enlistment can enlist themselves on GST Portal

Registration requirements

  • Provisional id received from authority
  • PAN of the tax payer/business
  • Mobile number
  • Email id
  • Bank account details

Dominant part of the VAT organizations have been moved to GST, while just 43% of administration impose organizations and have been relocated to GST as on April 2017.

The most effective method to enroll for GST on the off chance that you are new taxpayer

Eligibility criteria
Your business must have a turnover of Rs. 20 lakhs or more. Be that as it may if the business is situated in any of the seven Northeastern States, at that point your business turnover restrain is Rs. 10 lakhs

Who needs to enlist for GST?

  • A man who is working together in exchanging of merchandise or administrations needs to enlist for GST if his yearly turnover surpasses Rs. 20 lakhs or more, or Rs. 10 lakhs for organizations in any province of North-East India.
  • A man who is at risk to be enrolled might apply for enlistment in each such State, or Union Territory in which he is so subject, inside 30 days from the date on which he winds up obligated to enrolled.
  • A man having various business verticals in a State may acquire a different enrollment for every business vertical.
  • A man may get himself enrolled deliberately, and all arrangements of this GST Act, as are relevant to an enlisted assessable individual, might apply to such individual.
  • A man might have a Permanent Account Number (PAN) or a Tax Deduction and Collection Account Number (TAN) so as to be qualified for allow of enlistment. Exemption is for non-resident assessable individual.

Online GST Registration Procedure:
Enrollments for GST should be possible online through a gateway (https://www.gst.gov.in/) kept up by the Central Government or State Government. The candidate should present an online application for GST enlistment utilizing Form GST-1 alongside detail of the great and administrations to be managed. Online installment for the enlistment expense would be made accessible and impermanent GST enrollment number would be given on accommodation of use. On accommodation of the application, the candidate would need to print a duplicate of the application, connect the archives said above and messenger the same to the GST division. On confirmation of the application, last GST declaration will be issued by the concerned officer. GST enrollment strategy is required to be a totally online process, like the administration impose enlistment process.

It’s a basic, streamlined procedure to take after. Your assessments will be rearranged to an expansive degree and your business will encounter the simple stream of products crosswise over state lines. The GST is an essential advance towards great administration and you don’t need to stress over be burdened numerous circumstances. It’s an ideal opportunity to begin with your GST enrollment.

Related Article:
Latest GST Rule Updates: What Got Changed?
GST: A Common Man’s Guide to its Role & Impact on Everyday Life