Know New GST Registration Process All taxpayers are required to register on a single site for compliance and administration purposes under the GST regime. They are allocated to a single registration authority. All taxpayers are given a unique Goods and Services Tax Identification Number when they register (GSTIN). GSTIN is a 15-digit number based on your PAN that looks like this:
According to the Indian Census 2011, the first two digits denote the state code. Each state has its own code. For example, Karnataka's state code is 29, while Delhi's is 7. The taxpayer's PAN number will be the following 10 digits. The number of registrations in a state will determine the thirteenth digit. By default, the fourteenth digit will be Z. The check code will be the final digit. It might be a letter or a number.
What is GST (Goods & Service Tax) & New GST Registration Process
The GST is charged at every point of sale/value addition under the GST regime. Intra-state transactions are subject to both the Central GST and the State GST, whilst inter-state sales are subject to the Integrated GST tax. A new GST registration process is necessary for the following taxpayers:
Businesses having a revenue above Rs. 40 lakhs (Rs. 10 lakhs in the North Eastern States, J&K, Himachal Pradesh, and Uttarakhand). The ceiling for service providers is Rs. 20 lakhs.) Suppliers from different states Non-Resident taxable person / Casual taxable person Supplier's agents and input service distributors who are subject to the reverse charge method a person who sells through an e-commerce aggregator Every online marketplace aggregator A person who provides online information and database access or retrieval services to a person in India who is not a registered taxable person.
Understand The New GST Registration Process A GST number may be obtained through an online application that requires several facts about the company being registered. It necessitates certain company facts as well as the following documents: Cheque Rejected Statement of Bank Account (Name and address Details only) Rent Agreement + Electricity Bill + Certificate of No Objection (NOC) Permanent Account Number Photograph of Passport Size (PAN)