GST Registration in Hari Nagar
Category:GST News,GST Portal,gst registrationGST Registration in Hari Nagar
Introduction Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It is a single tax system that has replaced multiple indirect taxes like VAT, excise duty, and service tax. Every business operating in India needs to register for GST to comply with the law. In this article, we will discuss GST registration in Hari Nagar, a residential area located in West Delhi.
Eligibility for GST Registration The following entities are eligible for GST registration:
Businesses with an annual turnover of more than Rs. 20 lakhs need to register for GST.
Businesses involved in the supply of goods and services across different states need to register for GST irrespective of their turnover.
E-commerce businesses need to register for GST, irrespective of their turnover.
Businesses that were registered under the previous indirect tax regime like VAT, service tax, or excise duty, need to migrate to GST.
GST Registration Procedure The following are the steps involved in the GST registration procedure:
Step 1: Visit the GST portal and click on the ‘Register Now’ button.
Step 2: Fill in the details like name, PAN, mobile number, and email ID in Part-A of the registration form.
Step 3: Verify the mobile number and email ID by entering the OTP received on them.
Step 4: After verifying the mobile number and email ID, a Temporary Reference Number (TRN) will be generated and sent to the registered mobile number and email ID.
Step 5: Log in to the GST portal using the TRN.
Step 6: Fill in the remaining details in Part-B of the registration form, including business details, bank account details, and authorized signatory details.
Step 7: Upload the required documents, including PAN card, address proof, and photograph of the authorized signatory.
Step 8: Submit the application.
Step 9: After verification of the application and documents, the GST registration certificate will be issued within 3-7 working days.
Documents Required for GST Registration The following are the documents required for GST registration:
PAN card of the applicant
Aadhaar card of the authorized signatory
Proof of business registration like Certificate of Incorporation, Partnership Deed, or Proprietorship Deed.
Address proof of the business premises like electricity bill, rent agreement, or property tax receipt.
Bank account details of the business like bank statement, cancelled cheque, or passbook.
Benefits of GST Registration The following are the benefits of GST registration:
Legality: GST registration makes the business a legal entity and allows it to operate within the law.
Input Tax Credit: GST registration enables businesses to claim input tax credit on purchases made for business purposes, reducing the overall tax liability.
Business Expansion: GST registration enables businesses to expand their operations across different states without any hindrances.
Compliance: GST registration ensures that businesses comply with the law, avoiding penalties and legal issues.
Conclusion GST registration is mandatory for every business operating in India. It is a simple process that can be completed online through the GST portal. Hari Nagar, being a residential area located in West Delhi, has a significant number of businesses operating in the area. Therefore, it is essential for businesses in Hari Nagar to register for GST to comply with the law and avail the benefits of GST. We hope this article provided valuable information about GST registration in Hari Nagar.