If an individual’s yearly revenue from the supply of goods and services surpasses ₹20 lakhs (₹40 lakhs for North Eastern States and Union Territories), they must register for GST. There are a few exclusions to this rule, though, including:
- People who only provide exempt goods and services
- People who exclusively provide products and services to unregistered individuals
- Those who only sometimes produce taxable supplies
- Records needed to register for GST
Individuals must register for GST using the following documents:
- PAN card
- Aadhaar number
- Statement of bank accounts
- Evidence of address
- Electronic signature (required)
- The steps involved in registering for GST
Through the GST Portal, individuals can apply online for GST registration. This is the procedure:
- Navigate to the “Services” tab on the GST Portal.
- Then choose “New Registration” after selecting “Registration”.
- After inputting your PAN card number, select “Proceed”.
- Click “Continue” after selecting “Normal Taxpayer” as the registration type.
- Enter your contact information and personal details.
- Input your company’s information, including name, address, and type of operation.
- Upload the necessary files.
- Examine your application, then send it in.
You will receive a confirmation message on the email address and mobile number you registered with after submitting your application. On the GST Portal, you will also be able to monitor the progress of your application.
What procedures must an individual business follow in order to register for GST?
Online GST registration only takes a few easy steps to complete. You can reach out to us directly, and our agents will assist you in obtaining the individual registration for your business in an easy and hassle-free way.
Step 1: Upon contacting our representative to register your business for GST, they will gather all the paperwork needed to file your GST application.
Step 2: After that, we’ll prepare an application for your company and send it to you so you may review it and make any necessary modifications.
Step 3: The representative will file the GST application on your behalf after you have confirmed that all the information in the application is accurate. Upon submission of the application, an Application Reference Number (ARN) will be assigned to your application. This ARN number, which verifies that your GST application was submitted successfully, must be carried with you at all times.
Your registered email address or mobile number will receive direct access to all other information. You can use this ARN to check the status of your application on the GST application portal or our website.
Step 4: The representatives will notify you of any updates regarding your application as soon as it is submitted. Additionally, our representatives will answer any questions you may have.
Step 5: After the application is submitted, you receive the permanent GST number in approximately seven working days. It may take some time for the verification procedure to be completed, though, since all of your documents must be presented. The GSTIN is the GST identification number that will be used to identify all of the invoices you create and receive.
The 15-digit GSTIN number and the GST certificate will be sent straight to your email address.
Advantages of registering for GST
Individual GST registration has various advantages, such as:
- The capacity to charge input tax credits for purchases and collect GST from customers.
- The capacity to offer products and services to companies that have registered.
- The capacity to take part in contracts and tenders issued by the government.
- Exporting products and services is possible.
It’s crucial that you register for GST as soon as possible if you’re an individual who needs to. By doing this, you may be sure that you are abiding by the law and can profit from GST registration.
Individual GST Registration has a few drawbacks, such as:
Increased burden of compliance: After registering, a person must abide by all GST law requirements, including completing monthly and annual returns, sending out GST invoices, and making timely GST payments. This can be a difficult and drawn-out procedure, particularly for people who are not knowledgeable about GST law.
Expense increases: To assist them comply with GST regulations, individuals may need to spend on accounting services and software. Additionally, they might have to charge GST to their clients, which would make them less competitive.
Less flexibility: Even if a person’s turnover drops below the threshold, they are still unable to discontinue filing GST reports once they have registered. They have to go through the difficult procedure of deregistering from GST.
We provide businesses and individuals with smooth GST registration services, ensuring compliance with the Goods and Services Tax legislation. Allow us to handle your GST registration so that you can concentrate on expanding your business. Contact us today to secure a quick and easy GST registration in Chennai.