The Goods and Service Tax came into effect on 1 July 2017. The GST encompasses a number of central indirect taxes, such as the Central Excise Duty, Countervailing Duty, and Service Tax, among others. It also includes state VAT, octroi tax, luxury tax, and other taxes.. Further, you need to register for GST or you won’t be able to collect tax from your customers and claim input tax credit for the taxes on his inward supplies. The GST is a new system being introduced to get rid of the current jumble of indirect taxes.

A GST identification number is a 15-digit PAN-based number assigned to every individual registered under Goods and Services Tax. Therefore, it is necessary to register for GST in order to obtain this number. There may be multiple GSTIN number for a single applicant. In such a scenario, when the applicant reaches a threshold limit for tax registration online, the person must get a GSTIN.

Online filing of GST Registration

The Goods and Services Tax (GST) is a tax levied by the government of India. Any entity or business in India that meets the minimum turnover criteria has to register for GST online. Entities that do not require GST registration can also benefit greatly by registering on a voluntary basis, as they will then have legal rights as a recognised goods/services supplier and will be able to levy GST on customers. By following some easy steps mentioned here, taxpayers can get a host of benefits and achieve business growth.

SetyourBiz is a one-stop solution for businesses to avail seamless GST registration services, including new GST registration, amendment of GST registration and cancellation of GST registration.

To apply for registration as a taxpayer or GST practitioner, applicants will need to verify their identity as a business owner and provide important information about their business. The details required in Part A of the form are the legal name of their business, Permanent Account Number, their location, etc.

 You must register for GST if you are a business owner in any of the following cases

Case 1- When your turnover exceeds the threshold limit of Rs 10, 20 or 40 Lakh as per the state & nature of supply, refer to the table below.

Case 2 – E-Commerce sellers using online platforms such as Amazon and Flipkart will be required to register under GST from the beginning of their operations.

Case 3 – If you plan to supply goods or services in exhibitions, trade fairs, or events, where there is no permanent place of business, you need to register as a Casual Dealer. The registration is valid for 90 days from the date of registration.

Case 4 – If you’re in the business of supplying goods between two states, then GST registration is required from day one. However, if your business is providing services and its total turnover is less than 20 lakhs per year, then you don’t have to register for GST.

Case 5 – All non-resident Indians (NRI) and Non-Resident Foreign Companies (NRFC) supplying goods or services in India or exporting out of India must register under the Goods and Services Tax (GST) regardless of turnover.

Here are some of the advantages of GSTIN Number:

The biggest impact of GST is that it will create an economically efficient solution which will have to compete with companies in the unorganized sector.

Revenue will increase- the States and the Center will have joint oversight. The number of tax exempt on goods will decrease under the GST system.

GST (Goods and Services Tax) helps to avoid the “cascading” of taxes, therefore reducing production costs, and making exports more competitive.