PROPOSED REGISTRATION PROCESS
GST
Dated:- 17-12-2015
PROPOSED REGISTRATION PROCESS 29th October, 2015 Chennai
REGISTRATION OF TAXABLE PERSONS UNDER GST
* To give a unique identification to every taxable person.
* Link all GST related transactions of every person
* Enable proper accounting of taxes paid on input goods and services
* Enable passing of tax credit on supply of goods and services
* Ease in compliance verification.
WHO ARE LIABLE TO BE REGISTERED?
* Persons registered to pay existing taxes that will be subsumed under GST.
* Persons with All-India Gross Turnover more than a threshold
* Persons making interstate supplies
* Casual and non-resident suppliers
* Voluntary Registration below threshold
* Unique-id for specific class of persons.
SALIENT FEATURES OF REGISTRATION PROCESS
* PAN based Registration: PAN will be mandatory Unified application to both tax authorities to be filed within 30 days.
* State-wise registration for en
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sting tax payers to the GSTN database
* Taxpayers with valid PAN
* Online application form through Common Portal
* Documents to be filed for
* Constitution of Business
* Principal Place of Business Bank Accounts
* Authorised Signatory
* Photograph.
OBTAINING REGISTRATION
* Applications not submitted through Digital Signature to be supported by sending a signed copy of summary extract of the form.
* Processing of application and grant of registration even before signed copy received.
* Cancellation to be initiated if no signed copy received.
* Email and SMS based alerts to the applicants.
* No application fee (advance tax in case of casual suppliers).
* Applications can be filed through Facilitation Centres (FCs) or through Tax Return Preparers (TRPs).
APPROVAL PROCESS
* Online verification of certain details like PAN, CIN, Bank Account (if possible) and Adhaar.
* Online communication of application to jurisdictional authority by the backend modules
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thin a specified period.
* Issuance of GSTIN by GSTN
* Verification by Centre/State Authorities after issuance of GSTIN.
AMENDMENT TO REGISTRATION DETAILS
* On-time amendment essential for efficient tax administration.
* Most of the details to be amended by the tax payer on self service basis.
* Some of them like mobile number and email address through online verification.
* Some critical details like name, principal place of business to be amended after approval from tax authorities.
SURRENDER AND CANCELLATION
* Registration can be surrendered or can be cancelled on
* Closure of business of tax payer
* Gross Annual Turnover falling below threshold for registration
* Transfer of business
* Amalgamation of taxable person with other legal entities or de-merger
* Non commencement of business by tax payer within the stipulated time period prescribed under GST law.
SURRENDER AND CANCELLATION
* Cancellation by Tax authorities:
* Signed copy of the summary
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