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GST Registration

About GST Registration

Introducing Goods and Services Tax (GST) has been a big tax reform in India. And so much time has passed since its introduction that questions like “what is GST Registration” do not sound right. So here is a brief introduction

  • GST is the only tax that one has to get his/her business registered under.
  • If your business is not GST registered, heavy fines and penalties can be levied.
  • GST Registration allows you to collect GST from your customers.
  • So avoid going against the law, get your business registered for GST.
  • You can get your GST Registration through LegalRaasta. Here, we excel in to lessen the burden of a lengthy registration process. Our expert team will guide you on how you can get GSTIN in a hassle-free way. You can apply anytime for your GST number whether you are based in Delhi NCR, Mumbai, Bengaluru, Chennai, or anywhere in India.

Types of GST

India has a Dual GST Model. Under this tax maybe levied simultaneously by both Central and State governments on certain taxable supplies. Such as on inter-state supplies, tax is levied by Central Government.

Features Central GST – CGST State GST – SGST Integrated GST – IGST
Tax Levied By Central Government on Intra-State supplies of Goods and/or Services State Government, on Intra-State supplies Central Government, on Inter-State supplies
Applicability Supplies inside a state Supplies inside a state Interstate supplies and import
Input Tax Credit Against CGST and IGST Against SGST and IGST Against CGST, SGST, and IGST
Tax Revenue Sharing Central Government State Government Shared between State and Central governments
Free Supplies Applicable Applicable Applicable
GST Registration Process on Government Portal

To register for GST on the Government site, you need to follow the below steps. Cautiously & Accurately.

  • Go to the Government GST Portal and look for Registration Tab.
  • Fill PAN No., Mobile No., E-mail ID and State in Part-A of Form GST REG-01 of GST Registration.
  • You will receive a temporary reference number on your Mobile and via E-mail after OTP verification.
  • You will then need to fill Part-B of Form GST REG-01. To be duly signed (by DSC or EVC) and upload the required documents specified according to the business type.
  • An acknowledgment will be generated in Form GST REG-02.
  • In case any information is pending from your side. It will be sought from you by intimating you in Form GST REG-03. for this, you may be required to visit the department and clarify or produce the documents within 7 working days in Form GST REG-04.
  • The office may also reject your application if they find any errors. You will be informed about this in Form GST REG-05.
  • Finally, a certificate of registration in Finally, a certificate of registration will be issued to you by the department after verification and approval i
Benefits of GST Registration
    • Elimination of Multiple Taxes

One of the benefits of GST is the elimination of multiple indirect taxes that existed earlier. So many taxes have been replaced. Taxes like excise, octroi, sales tax, Service tax, CENVAT, turnover tax etc are not applicable anymore and all those have come under common tax called GST.

    • Saving More Money

GST applicability has resulted in the elimination of double charging in the system for a common man. Through this, the price of goods and services has reduced & helping the common man saving more money.

    • Ease of business

GST brought the concept of “One Nation One Tax”. That unhealthy competition that existed earlier among the States has benefited businesses wishing to do interstate business.

    • Cascading Effect Reduction

From manufacturing to consumption, GST is applicable at all stages. It is providing tax credit benefits at every stage in the chain. In the earlier scenario, at every stage, the margin used to get added and tax was paid on the whole amount. Under GST the businesses are taking benefit of Input Tax Credit and tax is being paid on the amount of value addition only. GST has reduced the cascading effect of tax thereby reducing the cost of the product.

    • More Employment

Because GST has reduced the cost of products, the demand, for some – if not all, products have increased. With the increase in demand, to meet the increase in supply, the employment graph has started going up.

    • Increase in GDP

Higher the demand, higher will be the production. This results in a higher Gross Domestic Product (GDP).

    • Reduction in Tax Evasion

Goods and services tax is a single tax that includes various earlier taxes
and has made the system efficient with fewer chances of corruption and Tax Evasion.

    • More Competitive Product

Manufacturing has become more competitive with GST eliminating the cascading effect of the tax, inter-state tax, high logistics cost. Bringing competitive as GST will address the cascading effect of the tax, inter-state tax, high logbenefits to the businessman and consumer.

    • Increase in Revenue

Under the GST regime, 17 indirect taxes have been replaced into a single tax. The increase in product demand means a higher tax revenue for state

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