GST has replaced the multiple indirect taxes that dealers had to pay whenever goods and services were sold. Earlier, it was a tax on tax regime where there was no input tax credit, and the customer had to pay a higher price for the product or service.
GST was introduced so that there would be a ‘one nation, one tax’ concept. Small businesses had a difficult time complying with the different indirect taxes like VAT, Excise duty, and service tax. With GST, compliance was easier for them.
How Does the GST Portal Function?
If you are wondering how to get gst number, then you need to understand the entire process which starts with an application for registration.
Before payment of GST, you need to ensure that you provide accurate details during registration such as name and PAN of your business, as well as communication details.
Apart from the above information, there are certain supporting documents that you need to provide.
Documents Required for Registration
The documents required for registration include Personal Account Number or PAN, Aadhar card, Proof of Business Registration, Promoter identity and address, bank account statement or cancelled cheque, digital signature, and letter of authorization.
You will find all these details on the gst portal online. On the submission of these documents, you will receive a TRN or temporary reference number.
After receiving the TRN, you need to choose the Edit option to register for GST.
You can track the status of your application by going to the GST website and tracking your application status.
Services Provided by the GST Portal
There are a variety of services provided by the GST portal.
These include applying for a GST practitioner’s job. To be eligible for a GST practitioner’s job you need to be a retired officer-grade employee of the Commercial Tax Department, an officer of the Sales Tax Department, Chartered Accountant, Cost Accountant, Company Secretary or a graduate in law or management.
You can file your GST returns through the portal and make GST payments as well.
Filing the Correct Return
GSTIN is a 15-digit number, which you will get once your registration is successful. GSTIN is based on your PAN.
The first 2 digits are the state code, the next 10 refer to your PAN Number, the following 2 digits are your entity code, and the last digit is a check code for detecting errors.
Once you get your GST Registration Number, you must know which GST Return applies to you according to the category you belong to. You have different forms like GSTR-1 to GSTR-11 according to specific purposes.
GSTR-1 is used when there is an outward supply of goods, and you need to file it monthly if you have a turnover exceeding Rs. 1.5 crores. If the turnover is below that, then you file returns quarterly.
GSTR-4 is for those dealers who have opted for the composition scheme.
GSTR-5 has to be filed by non-resident foreign taxpayers.
GSTR-6 needs to be filed by input service distributors.
GSTR-7 should be used if you need to deduct TDS.
GSTR-8 is to be filed if you are an e-commerce operator.
GSTR-9 is an annual return you need to file if you are registered under GST.
GSTR-10 is filed if for taxpayers with cancelled or surrendered registration.
Each form has a due date, and you need to file the return before the due date to avoid paying a penalty. While some forms are to be filed monthly, others need to be filed quarterly or annually.
How Should I File GST Return Online?
Here are the steps for filing GST Return online:
You need to log into the GST portal with your username and password. After logging in, you should click on the tab Services followed by Payment and finally Create Challan.
While making payment, you have to enter the relevant details under CGST, IGST, and so on. The total Challan amount in figures and words will appear. You can then choose the payment mode which could either be e-payment, over the counter or NEFT/RTGS.
Printout of Challan
After payment is made, a Challan providing all details of taxes paid will be sent to you. Your cash ledger will receive a credit to the extent of tax paid.
Easy Compliance For Your Business
GST has made compliance easy for all businesses. The GST portal provides all information regarding registration, the different forms, and their due dates and online payment of GST.