GST Registration, Process & Timelines

Goods and Services Tax (GST) registration is mandatory for businesses in India that meet the criteria laid out by the GST law. Here is an overview of the GST registration process and timelines:

GST Registration Process:

  1. Determine Eligibility:
    • Businesses with an annual aggregate turnover exceeding the threshold limit must register for GST.
    • The threshold limit varies for different states and union territories.
  2. Types of GST Registration:
    • Regular GST Registration: For businesses with an annual turnover above the prescribed threshold.
    • Composition Scheme: For businesses with a turnover below a specified limit, allowing for lower compliance requirements.
  3. Online Application:
    • Visit the official GST portal (https://www.gst.gov.in/) and select the ‘Services’ tab.
    • Choose ‘Registration’ and then ‘New Registration.’
    • Fill in the required details in the GST REG-01 form.
  4. Provisional GSTIN:
    • Once the application is submitted, a provisional Goods and Services Tax Identification Number (GSTIN) is issued.
  5. Verification:
    • The GST authorities will verify the provided information, and if additional documents are required, a notice will be issued.
  6. Submission of Documents:
    • Upload the necessary documents, including proof of business registration, bank statements, PAN, and Aadhar details of promoters, etc.
  7. Verification by GST Officer:
    • A GST officer will examine the application and documents, and if satisfied, they will approve the application.
  8. Final GSTIN:
    • After verification, a final GSTIN is issued.

Timelines:

  1. Application Submission:
    • The process of applying for GST registration can usually be completed within a few days.
  2. Verification and Approval:
    • The verification process may take about 7-15 working days. However, it can be faster or slower depending on the workload of the GST department.
  3. Final GSTIN Issuance:
    • Once approved, the final GSTIN is issued, and the business is officially registered under GST.

It’s essential to note that delays can occur if there are discrepancies in the application or if additional documents are required. Therefore, businesses should ensure that all information provided is accurate and complete.

Additionally, businesses are required to display the GSTIN on their invoices and comply with GST filing requirements as per the prescribed timelines to avoid penalties.

It’s advisable to consult with a tax professional for speedy and accurate filling of documents for GST Registration and further filling of GST returns. You can also contact us if you are looking for GST Registration in Gurgaon or Return filling services.

 

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