The new taxation system which came into effect from July 1, 2017 is the Goods and Services Tax or commonly known as the GST. It has replaced the existing system of many Indirect taxes which were levied on the tax payers. Now the GST is one single indirect tax which is applicable on the entire country. This tax is based on the consumption of the goods as well as services. A Goods and Services Tax Council is set up in order to set the rules and regulations along with the tax rates. This council consist of the Central Finance Minister as well as States. The rates of GST vary from 0% to 28% and is mostly dependent upon the nature of the goods and the type pf services that the business is dealing with. In order to get the GST registration, the tax payers have to follow the procedure laid down under the Act.

Who needs to register for the Goods and Service Tax registration number?

The below mentioned category of Businesses should get the GST Registration Number:

1.      All those businesses who have an annual turnover of more than Rs. 20 Lakhs per annum and more than Rs. 10 Lakhs in case of the North Eastern States.

2.      For all the businesses which is operating in more than one state.

3.      Any business who was previously registered under the VAT or Excise Laws or Service Tax Laws.

4.      All the businesses dealing with E commerce.

5.      All the businesses who export any goods or services.

What is the GST registration procedure?

The Central Government has created a Portal through which the individuals or businesses can get their GST Registration number. Even though it is quite an easy process but there are certain complicated steps that would need to seek the help of a professional. Our team of experts at Caadvocatecs.com can help you get your online GST Registration at the best price and without any hassle.

How to get the online GST registration certificate in India?

You have to follow the below mentioned procedure in order to get the GST Registration:

As per the new GST Registration process (online) in India, the first and foremost step that the applicant has to do is apply for the GST Registration Certificate through the online Portal. They can also take the help of a professional who provides GST Services simply by paying him an appropriate fee for GST Registration. you will have to submit the following with the Form Goods and Services Tac REG - 01 on either the GSTN Portal or through the Facilitation Centre as notified by the board or the commission:

-        PAN

-        Email Address

-        Phone Number

With the help of an One Time Password (OTP) your mobile number as well as the email address will be verified along with your PAN Card. As soon as the process of verification gets completed you will receive the Application Reference Number (ARN) on the number as well as the email address which you have submitted. After that an acknowledgment will also be issued to you through the Form Goods and Services Ta REG - 02 online.

Now you will have to fill the Part B of the Goods and Services Tax REG 01 where you will have to mention the Application Reference Number. Now you have to finally submit the form with all the relevant documents in order to register the GST.

In case any additional information is needed then the Form Goods and Service Tax REG-03 will be issues to you. From the date of receive the said form you will have to file the Form Goods and Service Tax REG-04 within 7 working days in order to provide all the relevant details asked for.

Once you have submitted all the relevant details be it through the Form Goods and Service Tax REG - 01 or through the Form Goods and Service Tax REG - 04, you will receive your Registration Certificate Form Goods and Service Tax REG - 06 for your registered place of business as well as any other mentioned place of business. In case the details submitted are not satisfactory then your application will get rejected through the Form Goods and Service Tax REG - 05.

The entire process of getting the GST Registration usually takes only 7 to 8 working days.

Documents Required for GST Registration

The following documents have to be submitted in order to get the GST Registration:

a.      For a Proprietorship Firm Registration

-        PAN card of the owner

-        Aadhaar Card of the owner

-        Photograph of the owner

-        Electricity bill of the premises

-        Letter of Authorisation for signatory

-        Bank statement or a Cancelled Cheque

-        Aadhaar Card of owners or the directors or the partners

b.      For a partnership or a private limited company

-        PAN card of the company/ partnership

-        PAN card of the Director/ partner

-        Aadhaar card of the Director/ partner

-        Photograph of the Director/ partner

-        Electricity bill of the premises

-        Partnership Deed/ Certificate of Incorporation

-        Letter of Authorization

GST Registration Fees

Depending upon the GST services of the respective professional, the rate of GST registration fee varies for getting the registration done. As per the type of business they would be required to file either their GST Returns on a monthly basis or a quarterly basis or on annual basis. There is special category of tax payers as well, known as the Composition dealers who have to file different types of returns. Caadvocatecs.com gives you an opportunity to compare the prices of GST Registration fee asked by various professionals and also assist you attain your online GST Registration Certificate.

What is Goods and Services Tax Return?

The final document which includes all the details of the income which is supposed to filed with the respective tax authorities is known as the GST Returns. This document helps in calculating the amount of tax which has to be paid by the tax payer.

How to complete the GST Return Filing?

As per the rules laid down by the GST, a registered tax payer will have to file the Goods and Services Tax Returns which includes the following:

-        Purchases

-         Sales

-         Output GST (On sales)

-        Input Tax Credit (GST paid on purchases)

-         GST returns, GST complete sales and purchase invoices are required.

Late Fees for Not Filing the GST Returns on time

In case of late filing of GST Returns, the taxpayer will be required to pay both interest as well as late fees. Any of the Chartered Accountant or the Company Secretary who provides GST Filing Services can help you in filing the GST Returns on time.

On the outstanding amount of tax that has to be paid an interest of 18% is levied. The late fees will be levied on the tax payer from the very next day of the due date and a maximum of Rs. 5000 can be charged as late fees.