A Step-by-Step Guide to GST Registration for Businesses
Who Needs to Register for GST?Businesses with an annual turnover above ₹20 lakh (₹10 lakh for northeastern states).E-commerce operators and suppliers.Businesses involved in interstate trade.Casual taxable persons and non-resident taxable persons.Documents Required for GST RegistrationPAN card of the business or proprietor.Aadhaar card of the proprietor/partners.Proof of business address (utility bill, rent agreement, etc.).Bank account details (cancelled cheque, bank statement).Digital signature for online filing.How to Register for GST Online?Step 1: Visit the official GST portal (gst.gov.in).Step 2: Click on 'Register Now' and fill in the required details.Step 3: Upload the necessary documents.Step 4: Verify the application with OTP or DSC.Step 5: Receive your GSTIN (Goods and Services Tax Identification Number) upon approval.Benefits of GST RegistrationLegal recognition as a supplier of goods or services.Ability to claim Input Tax Credit (ITC).Easier compliance and transparency in taxation.Access to wider markets, including interstate trade....
Top 5 Common Mistakes to Avoid During GST Registration
Incorrect Business DetailsMistakes in providing PAN, business name, or address can lead to application rejection.Double-check all details before submission.Providing Incomplete DocumentsEnsure all documents are uploaded in the correct format.Missing documents can delay the approval process.Choosing the Wrong GST CategoryUnderstand the difference between Regular Taxpayer, Composition Scheme, and Casual Taxable Person.Select the appropriate category based on your business type.Not Verifying Details with OTP or DSCFailure to verify your application can lead to rejection.Ensure your mobile number and email ID are active for OTP verification.Ignoring Notifications from GST AuthoritiesAfter applying, keep an eye on notifications or requests for additional documents from the GST portal....