GST Enrolment Online – Your First Step Towards Filing GST Return
The Goods and Services Tax Network (GSTN) recorded a whopping Rs.22.77 lakh crore as revenue through the GST login portal up to 23rd February 2020.
This data is testament of the increasing onus on digitising the Indian economy as well as the comprehensive implementation of GST.
Take a look at other related stats that represent the prevalence of GST portal:
- Total number of registered taxpayers – 1.22 crore.
- GST revenue amassed for the Financial Year 2019-20 – Rs.10.19 lakh crore (approx.)
Further, the GSTN’s comparative analysis also shows the YOY growth of the GST revenue collection from FY 2018-19 to FY 2019-20 at 8.1% for January. Although a slight dip from the same analysis made in December, the rate is proof of a continuous growth as per predictions.
That being said, it is also essential for specified taxpayers to file GST returns mandatorily. To do so, they must enrol/register themselves with the GSTN.
Once registered, the individual or entity will be allotted a 15-digit Goods and Services Tax Identification Number (GSTIN) to be used for various GST-related compliances.
You can easily register for GST online by fulfilling only certain basic requirements and compliances.
Online registration process for GST explained
Enrolment at the GST portal online can be completed in the following few steps. The process involves TRN (Temporary Reference Number) and ARN (Application Reference Number) generation for successful completion of online application.
Step 1 – Go to the official GST login website/portal for registration.
Step 2 – Scroll to the ‘Services’ tab and select ‘Registration’ from the dropdown menu.
Step 3 – Next, click on the ‘New Registration’ option.
Step 4 – Proceed to fill up the displayed Form-01. Here, provide information like taxpayer type, state and district, PAN details, registered business name, etc.
Step 5 – Verify your identity via OTP confirmation sent to your registered mobile number to receive the TRN.
Step 6 – Next, complete goods and service tax login with the TRN and captcha verification.
Step 7 – Provide necessary business details like company name, business’s commencement date, existing registrations, if any and more. Note that, you will also be required to provide the names of business partners/promoters/proprietor, along with other personal and business details.
Step 8 – Upload all required documents.
Step 9 – Provide your digitals signature and save the information provided to continue.
Step 10 – Lastly, click on the ‘Submit’ button for ARN generation and successful completion of GST login portal registration.
You will receive the ARN on your registered mobile number as well as the email ID provided. This number allows you to track your application status and confirmation of GST registration.
Once the registration is confirmed, you will receive the GSTIN and respective certificate shortly, to be utilised for compliances like invoice quoting, Input Tax Credit claim, filing returns, and more.
Generation of the unique identity as well as timely return filing also enhances a business’s credibility, along with serving as a documented proof while availing advances like business loans.
Leading financers such as Bajaj Finserv require only basic documentation for a successful application including GST returns filed for at least 1 year.
They also make the process of availing finances hassle-free and help save valuable time for the borrowers via pre-approved offers. These offers are available on business loans, personal loans, as well as on several other financial products.
Categories for compulsory GST registration
The following categories of individuals or entities need to register for GST mandatorily:
- Businesses whose turnover exceeds Rs.40 lakh.
- Businesses in North-Eastern states as well as Jammu & Kashmir, Uttarakhand, and Himachal Pradesh with a turnover exceeding Rs.10 lakh.
- Individuals or businesses registered in the old indirect tax regime.
- Casual as well as non-resident taxable persons.
- Supplier agents.
- Taxpayers under the reverse charge mechanism.
- E-commerce aggregators and suppliers.
Documents required for GST registration
Upload the following documents when registering at the GST login portal.
- Applicant’s as well as business’s PAN card.
- A document certifying the business’s existence.
- PAN and Aadhaar details of partners or promoters.
- Documents serving as bank account details.
- Proof of address.
Alongside, an applicant may also require submitting entity-specific documents at the GST login portal depending on the category he/she belongs to.
After registering their businesses at the portal, individuals can proceed to make indirect tax payment and complete the GST return filing process with ease.
Utilise a GST calculator to compute Goods and Services Tax liability and make payment in time to avail associated benefits.