FAQ on GST Registration

The primary objective of the GST is to consolidate all taxes into one single tax. It subsumes multiple central and state-level taxes, including service tax, excise duty, VAT, and entertainment tax. It also makes it easier for businesses to comply with complex tax regulations by reducing paperwork and simplifying processes.

GST works on the principle of ‘One Nation, One Tax,’ where all the goods and services sold within a state fall under the same tax rate. It also eliminates multiple layers of taxation by combining both direct and indirect taxes.

The main advantage for consumers is that most products will be cheaper since companies will no longer have to pay multiple taxes at various stages of production or distribution. It means that products will be available at lower rates which will help to improve purchasing power as well as boost demand.

If your business’ turnover exceeds Rs 20 lakhs (Rs 10 lakhs for North Eastern states), you must register under GST. However, if you are an e-commerce seller, you need to register under GST even if your turnover is less than Rs 20 lakhs because e-commerce companies collect TCS (Tax Collected at Source). The registration certificate is mandatory to collect TCS.

You need to file an online application on the official portal of the Government of India.

GSTIN means Goods and Services Taxpayer Identification Number. The government assigns you a unique 15-digit number after registering for GST. This number is unique to every taxpayer who enlists in the GST regime. When you apply for registration, you will receive this number via SMS or email.

A: You can obtain your GSTIN by applying for registration at www.gst.gov.in or by filing Form REG-01 with your jurisdictional authority after obtaining DSC and DIN, if applicable