The Goods and Services Tax (GST) registration process is now online and must be completed on the government website at gst.gov.in. There is a special rule for GST registration for businesses. Under this rule, a person doing business has to get GST registration done. Let us take a look at GST registration and its entire process.
Meanwhile, sharing information regarding the whole process, CA Nitin Sharma said that first of all, one has to see what business they want to do. There is no need for GST registration at the outset. The government has given some relaxation, in which if the aggregate revenue is within Rs 20 lakh, then they will get relaxation in that. He further said that when one starts earning more than this, they need to get their GST registration done.
Online process for GST registration:
Nitin Sharma said that there is an online process for GST registration, for which there is no need to go anywhere. Once one has applied for GST registration, they will get a TRN number, which is also called a temporary reference number. After this, one gets to know to whom their GST number has been assigned.
He also shared that after this, the person will get approval. If there is no problem with their document, then their GST registration will be done in 7–10 days, and if any problem arises, then it may take 15-20 days in that case.
He further told about its charges that any CA can get the GST registration process done for Rs 2.500 to Rs 5.000, and for a private limited company, the charge goes up to Rs 10,000.
Documents required for registration:
1. Passport-size Photograph of the Owner(s)
2. Company Pan Card
3. Identity Proof (Aadhar Card, Passport, or Driving License)
4. Certificate of Association for LLPs, OPCs, and Private Limited Companies
5. Bank Details (Bank Statement, Passbook, or Canceled Cheque)
6. Partnership Deed If It Is A Partnership Firm
Why is GST registration necessary?
Nitin Sharma said that GST has replaced all the earlier taxes. Earlier, different types of taxes were levied, which have been subsumed in GST. If the annual turnover is Rs 40 lakh, or in some cases, more than Rs 20 lakh, then one is a taxpayer in the eyes of GST. Registration has to be done only to pay this tax. If one does business without registration, then it is a crime, and if caught, they may have to pay a heavy fine.
Trademark registration
If anyone starts a new company, then trademark registration is also necessary. This ensures that no one in the market can copy their name or a name similar to the name, the government fee is Rs 4,500, the non-proprietor fee is Rs 9,000 and the filing charge is Rs 1,500.
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