Goods and Services Tax (GST) is a consumption-based tax levied on the supply of goods and services in India. It replaced multiple indirect taxes like VAT, excise duty, and service tax, among others. GST registration is mandatory for businesses whose annual turnover exceeds Rs. 40 lakhs (Rs. 20 lakhs for special category states). In this blog post, we will guide you through the GST registration process in Chennai.
Step 1: Gather Required Documents To begin the GST registration process, you need to have the following documents ready:
- PAN card
- Aadhaar card
- Business registration document (e.g. partnership deed, LLP agreement, company incorporation certificate)
- Bank account statement
- Address proof of the place of business (e.g. rent agreement or electricity bill)
- Digital signature
Step 2: Register on the GST Portal The next step is to register on the GST portal (www.gst.gov.in) using your PAN card details. After successful registration, you will receive a 15-digit GSTIN (Goods and Services Tax Identification Number) and a temporary password on your registered mobile number and email ID.
Step 3: Complete the Application Form Log in to the GST portal using your credentials and complete the application form by providing details such as your business name, PAN number, email ID, mobile number, and address of the place of business. You also need to upload the required documents in the prescribed format.
Step 4: Verify Your Application After submitting the application form, you need to verify it using your digital signature or an Electronic Verification Code (EVC) sent to your registered mobile number. Once verified, your application will be processed by the GST department.
Step 5: Receive GST Certificate If there are no errors or omissions in your application, the GST department will approve your registration and issue a GST certificate. You can download the certificate from the GST portal.
Conclusion GST registration is mandatory for businesses to comply with the GST law in India. The process involves gathering the required documents, registering on the GST portal, completing the application form, verifying the application, and receiving the GST certificate.
If you need any assistance with the GST registration process in Chennai, we can help you on the same.
Want to get a GST Registration for your business ? Click here to send an enquiry to us
Frequently Asked Question on GST Registration
- Who is required to register for GST?
Any business whose annual turnover exceeds Rs. 40 lakhs (Rs. 20 lakhs for special category states) is required to register for GST.
- Can businesses with turnover below the threshold limit register for GST voluntarily?
Yes, businesses with turnover below the threshold limit can also register for GST voluntarily.
- What is GSTIN?
GSTIN or Goods and Services Tax Identification Number is a 15-digit unique identification number assigned to every registered business under GST.
- What is the validity period of GST registration?
GST registration is valid as long as the business continues to operate or until it is cancelled or surrendered.
- Is it necessary to obtain a separate GST registration for each state of operation?
Yes, Separate GST registration is required for businesses operating in each of the states.
- Can a GST registration be cancelled?
Yes, a GST registration can be cancelled in case of closure of business, transfer of business ownership, or any other reason for discontinuation of business.
- What are the consequences of not registering for GST?
Failure to register for GST can result in penalties and legal actions by the GST department.
- Can a GST registration be amended after it is issued?
Yes, certain details in the GST registration can be amended after it is issued, such as the business address or contact details.
- Is it necessary to have a digital signature for GST registration?
Having a digital signature is not mandatory for GST registration, but it is recommended as it simplifies the verification process.
- Can a GST registration be transferred to another person or entity?
No, a GST registration cannot be transferred to another person or entity. It can only be cancelled or surrendered, and a new registration can be obtained by the new owner.