GST is an indirect tax that was introduced in 2017 by the Indian Government. This new tax structure aimed to create a single taxation criterion and abolish several other indirect taxes in India for the simplicity of tax collection and to increase the efficiency of the process.

As per the GST Act (Goods and Services Tax), businesses whose annual turnover is beyond the maximum limit of Rs.40 lakh, Rs.20 lakh, or Rs.10 lakh, should register as a normal taxable individual or entity.

The systematic process of receiving GSTIN (GST Identification Number) or registration in above- mentioned cases is known as GST registration.

In India, the Goods and Services Tax is categorised into three primary types –

• Central Goods and Services Tax (CGST): This tax is imposed by the Central Government on the supply of goods and services under a particular state. It applies to complete transactions made within the areas of one state.
• State Goods and Services Tax (SGST): This tax is imposed by the State Government on the supply of goods and services under its jurisdiction. Similar to CGST, it is also applicable to transactions made within a particular state.
• Integrated Goods and Services Tax (IGST): The Central Government imposes this tax on the supply of goods and services that are carried out between a state and a Union Territory or between different states.

GST registration is important for the following individuals or businesses:

• Business Entities: Any enterprise with a comprehensive annual turnover exceeding Rs. 40 lakhs. The threshold limit is Rs. 20 lakhs for special category states under GST criteria.
• Service Providers: Any service provider with a comprehensive annual turnover exceeding Rs. 20 lakhs. This limit is Rs. 10 lakhs for special category states.
• Previously Registered Entities:  All previously registered entities under old tax structures, such as VAT, Excise, Service Tax, etc., should be needed to shift and register under the new GST regime.
• Inter-State Suppliers: Any business or individual undertaking the supply of goods between states.
• Inter-State Suppliers: Any business or individual undertaking the supply of goods between states.
• Entities under the Reverse Charge Mechanism: Businesses are required to pay tax under reverse charge.
• Input Service Distributors & Agents: All input service distributors along with their agents.
• E-Commerce Platforms: Owners or operators of all e-commerce platforms.
• Non-Resident Taxable Entities: Individuals or businesses who are non-resident but undertake taxable supply in India.
• Supplier’s Agents:  Agents supplying on behalf of a principal supplier.
• E-Commerce Suppliers: Individuals or businesses that supply goods or services via an e-commerce aggregator.
• E-Commerce Suppliers: Individuals or businesses that supply goods or services via an e-commerce aggregator.

If you are an individual or company, the following documents are required for GST registration-

To start the GST registration, follow the below-mentioned steps –

• Visit the official GST website and provide essential details such as your mobile number, email address, and your state / UT for registration in Part A of FORM GST REG-01.
• Once these details are verified, you will get a temporary reference number. Utilize this number to submit Part B of FORM GST REG-01 online and include the required documents related to your registration category. After submission of the details, you will receive an acknowledgment as in FORM GST REG-02.
• When your application is properly completed and verified, the registration process will complete successfully, and a GST registration certificate will be issued for you with a unique GSTIN number.

• Avoid Penalties: By registering a business under the GST framework, companies experience uniform Indian tax regulations, avoiding huge fines and legal difficulties of non-compliance.
• Legal Security: A GST-registered enterprise is safe from allegations of tax evasion, with hassle-free running and authenticity.
• Legal Security: A GST-registered enterprise is safe from allegations of tax evasion, with hassle-free running and authenticity.
• Improved Cash Flow: The registration facilitates businesses to gain enhanced cash flow as this registration reduces the amount of taxes they are required to pay.