Every business must register itself under the normal taxable entity. This process is referred to as the GST registration process. However, one can complete the GST process within six working days. The business owners need to fill out a form and submit the necessary documentation required for the registration. Moreover, if any business carries out its operation without registering for the GST program, it can undergo heavy penalties for illegal operation.
There are various kinds of GST registration. It comprises normal taxpayers, casual taxable persons, composition taxpayers, and non-resident taxpayers. Moreover, the documents required for GST registration of partnership firm are not huge.
Steps for online GST registration
One can go for the GST registration process online. It involves some steps.
Visit the online GST portal
For registering for the GST registration, you need to visit the GST online portal and click on the new registration option.
Generate the TRN number while completing the OTP validation
The applicant needs to fill the application form with the help of a TRN number. Before you fill up, you need to select the type of taxpayer from the given options. Moreover, you need to choose the state. Once you enter the entity’s legal name, you will be asked to provide various details regarding the pan numbers and other ID numbers. Make sure that you provide the email address to go on to the proceed button.
If you do not have the TRN number, you need to generate one. To do that, you will have to submit the OTP verification number.
Login with a valid TRN number
Once you receive the TRN number, your process of applying for the GST registration will begin. In the temporary reference number on the online GST portal, you need to enter the generated number. Moreover, if you enter the captcha text provided on the screen, you complete the verification process of your email and mobile number.
Submit various information
You also need to enter the trade name of your business in the place of the trade name field. You will get a drop-down list from where you need to select the constitution of the business. You need to enter the district and sector, ward, or circle from the list and get the choice to select the division code, range code and commissionerate code. You also need to mention the commencement date of the business.
Provide the details of the bank account
Once you fulfil these formalities, you need to provide the banking details. It includes the details regarding their account number, the type of account and the IFSC code. If required, you also need to upload a copy of your passbook or the bank statement.
Verify the application
The last step involved the verification of the application. Once you complete the verification process, you will receive the application reference number for the ARN receipt. You will receive this in your phone number or email id. With the help of the GST ARN number, you can track down the status of the application. Hence to get the best GST services, one must look forward to the online procedure. It is quite simple and an easy process.
Apart from that, to apply for this procedure, you need to provide all the documents required for GST registration of partnership firms to get the GST ARN number easily. Also, if you get your business registered under the GST, then you can enjoy various facilities. For instance, you can sell goods across the country.
Every business organization must undergo the GST registration process. One can do it without any cost. Moreover, one did not have to have any mandatory bank account to register their business for GST. The government will not charge you any fees, but if you approach any consultant for a chartered accountant, they might charge for professional fees.