Businesses with a turnover above ₹40 lakhs (for goods) or ₹20 lakhs (for services), e-commerce operators, and inter-state suppliers must register.
GST registration refers to the process of registering a business for the Goods and Services Tax (GST) in countries where it is applicable, such as India, Canada, Australia, and others. GST is a value-added tax levied on the supply of goods and services at each stage of the supply chain. It has replaced various indirect taxes like VAT, excise duty, service tax, etc., simplifying the taxation system.
Visit the official GST portal of your country and create an account. For example, in India, the GST portal is https://www.gst.gov.in/.
Fill out the GST registration application form accurately with all required details such as business name, address, PAN (Permanent Account Number), bank account details, proof of business registration, and authorized signatory details.
Upload the necessary documents as per the requirements of the application form. These may include proof of business incorporation/registration, identity and address proofs of the proprietor/partners/directors, bank statements, etc.
The details provided in the application form and documents are verified by the GST authorities. Sometimes, additional documents or clarifications may be requested.
Once the application is verified and all requirements are met, the GST registration application is processed.
Upon successful verification and processing, a unique Goods and Services Tax Identification Number (GSTIN) is issued to the business entity.
The applicant receives login credentials (username and password) for accessing the GST portal.
Once registered, the business is required to file GST returns periodically as per the regulations of the country. Failure to comply with the GST regulations may attract penalties.
After receiving the GSTIN, the registered business must prominently display it at its place of business.
Businesses with a turnover above ₹40 lakhs (for goods) or ₹20 lakhs (for services), e-commerce operators, and inter-state suppliers must register.
GSTIN (Goods and Services Tax Identification Number) is a unique 15- digit number assigned to businesses registered under GST
Apply online through the GST portal by filling the GST REG-01 form and submitting required documents.
It’s mandatory for businesses with turnover above the threshold limit, but voluntary for smaller businesses.
Yes, GST registration can be canceled if the business ceases or if you no longer meet the requirements for registration.
Yes, if your business operates in multiple states, you must register separately in each state.
No, only persons registered under GST are allowed to collect GST from the customers.