GST refers to Goods and Service Tax. It is indirect taxation that has removed various other taxes such as service tax, excise duty, etc. The Goods and Service Tax was passed by the parliament in March-27th-2017. This came into effect on 1st July 2017.
In simple words, Goods and Service Tax is charged on the supply of goods and services. It is a comprehensive, multistage, and destination-based tax that is charged on every value addition. It is a single domestic taxation law for the whole country. A Good go through multiple changes of hands before it reaches the final user.
For example- We may consider the following stages before a product goes to the final consumer-
Step 1- Purchasing of a raw material’
Step 2- Production of Goods
Step 3-Warehousing of finished products
Step 4- Selling of products to wholesalers
Step 5- Selling of products to retailers.
Step 6- Product to the final user.
The Complete Process of GST Registration Online
GST registration online takes place on the government website Every dealer who has an annual turnover above Rs 20 lakh has to do the registration for Goods and Service Tax.
Here is the step-by-step guide for the GST registration Online on the GST Portal-
Step 1- For the GST Registration Online, go to the GST portal, click on services and then go to registration and thereafter select a new registration.
Step 2-Fill the following details for GST Registration Online in Part A
Choose a New Registration Radio Button.
In the drop-down, select I’m a taxpayer.
Choose the state and the district from the drop-down.
Now enter the name and the PAN of the business.
Write the email address and the mobile number, after this you will receive the OTP on the given email and mobile number.
Click on Proceed Button.
Step 3- Enter the two OTPS and click on the continue button, if you didn’t receive it then press on resend button
Step 4-You will receive the 15-digit TRN on your given mobile number and email. Please down the received TRN. You have to complete the filling of part b within 15 days.
Step 5- Again to the GST Portal and choose the new registration tab.
Step 6-Choose the TRN and enter it. Then complete the captcha code and click on proceed.
Step 7-You will again receive the ITP on the given email and mobile. Enter it and click on the proceed button.
Step 8- You will notice that the status of the application is shown as a draft.
Step 9-Pat B has 10 sections, fill in all the details and submit the required documents.
Step 10-In the Business tab section, fill in all the required details of the business.
Step 11-Now, Fill in the principal Place of Business Details.
Step 12-Fill in the details of goods and services with HSN codes.
Step 13-Now enter the bank details of the business.
Step 14-In the state specification tab, fill in the professional tax employee code number, PT registration certificate number, and State Excise License number with the name holding the license. Press on the ‘SAVE & CONTINUE option.
Step 15-Now you have to select whether you want to do Aadhar card authentication.
Step 16- Once you fill in all the required information go to the verification page. Click on the agree button of the declaration form and submit it.
Step 17- You can now see a message of a successful application and an application number is sent to your registered email and mobile confirming your GST Registration online. For regular GST updates and amendments, keep visiting the official government GST portal and the Central Board of indirect Taxes and Customs.