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