A Beginner’s Guide to GST Registration and Filing in India
The Goods and Services Tax (GST) is a landmark reform in India’s taxation system, aimed at creating a unified market by replacing multiple indirect taxes. If you’re starting a business or have recently crossed the turnover threshold, understanding GST registration and filing is crucial. This guide will walk you through the basics.
Who Needs GST Registration?
You are required to register for GST if:
- Your business turnover exceeds ₹20 lakh (for most states) or ₹10 lakh (for special category states).
- You engage in inter-state supply of goods or services.
- You operate an e-commerce platform.
- You’re a non-resident taxable person or casual taxable person.
Steps for GST Registration
- Visit the GST Portal: Head to www.gst.gov.in.
- Fill Out Part A: Provide your PAN, mobile number, and email address for verification.
- Submit Part B: Complete the application with business details, bank account information, and supporting documents like PAN, Aadhaar, and business address proof.
- Receive GSTIN: Once verified, you’ll be issued a GST Identification Number (GSTIN).
Filing GST Returns
After registration, you must regularly file GST returns based on your business type:
- GSTR-1: Details of outward supplies (monthly or quarterly).
- GSTR-3B: Summary return including tax liability and ITC claims (monthly).
- GSTR-9: Annual return summarizing the year’s activities.
Ensure timely filing to avoid penalties and maintain compliance. Platforms like The Tax Fusion simplify the filing process, saving you time and effort.
