If you are looking for GST registration to empower your business legally, you are at the right place.

The Goods and Services Tax, popularly known as GST, was introduced on July 1, 2017, as a replacement for various central and state-level taxes, including Service Tax, Excise Duty, CST, Entertainment Tax, Luxury Tax, and VAT. GST introduction has since ensured the streamlining of the tax process in India. GST registration is mandatory for traders, service providers, manufacturers, and freelancers.

GST has united various indirect taxes, including VAT, service tax, and excise duty, into a unified single tax system. The consolidation of multiple taxes restructured as GST has streamlined compliance, lowered tax evasions, eliminated the domino effect of taxes, promoted the ease of doing business, and boosted the efficacy of the country’s economy.

Talk to consultants at Fastzeal and enjoy easy and timely GST registration in India.

What are the Benefits of GST Registration?

GST registration offers a variety of benefits to individuals and business entities, and these include the following:

Regulatory Compliance

GST registration safeguards the interests of individuals and business entities operating in India. It ensures their legal and tax compliance, thus saving them from paying penalties for violations.

Easy Compliance

GST registration is not a complicated process. It helps business entities streamline their processes for filing tax returns and making online payments.

Maintains Transparency

GST registration allows business entities to maintain updated business records. This helps build a sense of reliability and facilitates operational transparency.

Legal Protection

GST registration safeguards the legal and regulatory standards of the business, thereby protecting their legal rights.

Improve Credit Score

The businesses that manage their GST and other regulatory compliances easily boost their credit profile.

Market Advantage

Businesses with GST registration earn the trust of their customers, which in turn attracts more business opportunities for them in the future.

Documents Required for GST Registration Online

In order to ensure successful GST registration, several documents are required. The documents required for GST registration online in India are showcased below:

• Applicant’s PAN Card
• Applicant’s Aadhar Card
• Proof of business registration/ Company Registration Certificate of Incorporation
• Identity proof of Promoters/Director
• Address proof of Promoters/Director
• Photographs of Promoters/Director
• Address proof of the place of business
• Bank Account statement/Cancelled cheque
• Digital Signature Certificate (DSC)
• Lease/Rent Agreement
• Letter of Authorization/Board Resolution for Authorized Signatory

How to Apply for GST Registration Online?

The process of GST registration is now easy and simple. The step-by-step guide to apply for GST registration online are mentioned below

How to Apply for GST Registration Online?

The process of GST registration is now easy and simple. The step-by-step guide to apply for GST registration online are mentioned below-

Apply on GST Portal

The applicant must visit the GST portal and provide all the relevant details, such as the legal business name, PAN, email ID, mobile number, district, and state.

Authenticate OPT

Once the details are submitted, the applicant receives an OTP on their registered mobile number and email ID.

TRN Generated

Once the OTP is verified, the applicant must send the TRN number duly generated via email.

Submission for Verification

Next, the applicant needs to submit the details related to the promoters/partners, place of business, business details, authorized signatory, state, Aadhar authentication and verification.

Receive ARN Confirmation

Once the applicant saves and continue filing with the form, the ARN confirmation number is generated via SMS.

Tired of the complex GST registration process? Contact consultants at Fastzeal and enjoy worry-free registration.

Common Mistakes to Avoid During GST Registration

Some of the common mistakes to be avoided by businesses during GST registration are as discussed below:

Wrong Documentation

The businesses must avoid preparation and record-keeping of wrong documentation, invoices, and bills of supply crucial for filing GST.

Inadequate Understanding of the GST Composition Scheme

The businesses may suffer due to an improper understanding of the GST composition scheme.

Missing GST Return Deadlines

Businesses must avoid ignoring/ missing deadlines and due dates for filing GST returns in India.

Invoice Detail Inaccuracies

The businesses must avoid mistakes in the preparation of invoices, such as GSTIN and tax calculations, resulting in compliant issues and penalties.

GSTR-2A and GSTR-3B Discrepancies

The businesses must avoid failure to reconcile purchase data (GSTR-2A) and field data (GSTR-3B), leading to inconsistencies and compliant issues.

Unverified GSTIN of Suppliers

The businesses must avoid providing unverified GSTIN of suppliers, which results in the denial of input tax credit.

Neglecting GST Notices and Compliance

The businesses must avoid neglecting GST notices and compliance requirements which results in legal issues and substantial penalties

GSTIN and its Significance for GST Registration

A comprehensive guide enumerating GSTIN and its significance is discussed below:

Features of GSTIN under GST Registration

GSTIN (Goods and Services Tax Identification Number) is a distinctive 15-digit alphanumeric code.

It is assigned to every taxpayer who is registered under the GST regime in India.

The GSTIN is the primary identifier for individuals and businesses in GST-related matters for seamless transactions and regulatory compliance.

After the applicants successfully apply for GST registration, they are issued GSTIN, which is mandatory for smooth business operations and executing tax obligations.

Structure of GSTIN under GST Registration

First Two Digits (Start Code), i.e., 22, represent the State code where the business is registered.

Next Ten Digits (PAN), i.e., ABCDE1234F, represent the PAN (Permanent Account Number) of the registered business.

Next One Digit (Entity Code), i.e., 1, represents the entity code for the PAN holder.

Next One Digit (Blank), i.e., Z, is currently kept blank for future use.

Last One Digit (Check Code), i.e., 5, is a check code for verification purposes.

Difference Between GST and Income Tax

The table below provided specifies the difference between GST and income tax:

Timeline and Fees for GST Registration

Have a look over the timeline and fees required for GST registration in India, as described below:

GST registration is mandatory for certain businesses to maintain legal, regulatory, and operational transparency in India.

The timeline for getting GST registration approval is 7 to 10 working days.

However, completing the entire registration process takes around 30 days.

The GST registration fees, starting with a range of Rs. 1999/-, vary from state to state.

However, the government charges no direct fees for obtaining a GST registration certificate online.

The factors influencing the GST registration charges are changes in government policies, state-specific fees, and the nature of business.