GST Registration Modification/Cancellation
GST Registration
Goods and Services Tax (GST) is a tax regime that has been implemented in India since July 2017. It is a comprehensive, multi-stage, destination-based tax that is levied on the supply of goods and services. GST has replaced a number of indirect taxes that were previously in place, such as VAT, service tax, and excise duty. Under the GST regime, businesses are required to register themselves for GST and file periodic GST returns. In this article, we will discuss in detail the GST registration process, its advantages, and the documents required for GST registration.
Who We Are
At Tax Zone India, we are committed to providing the best GST registration services to our clients. Our team is highly involved and dedicated to ensuring that our clients receive top-quality services at the best prices in the market. We welcome both positive and negative feedback as we believe it helps us improve our services and move forward towards providing the best experience for our clients. You can trust us to be your one-stop-shop for all your GST registration needs as we prioritize your satisfaction above all else.
GST Registration Process
Any person who supplies goods and services and whose aggregate turnover in a financial year exceeds the threshold limit of Rs. 40 lakhs (Rs. 10 lakhs for special category states) is required to register for GST. The registration process for GST is online and can be completed on the GST portal.
STEP 1
Visit the GST portal (www.gst.gov.in) and click on the “Register Now” button under the “Taxpayers” tab.
STEP 2
Select “New Registration” and enter your details such as name, PAN, mobile number, and email ID. An OTP will be sent to your mobile number and email ID for verification.
STEP 3
Once your mobile number and email ID are verified, you will receive a temporary reference number (TRN). You can use this TRN to complete the GST registration process.
STEP 4
Login to the GST portal using your TRN and enter the required details such as business name, address, and type of business.
STEP 5
Upload the required documents such as PAN card, Aadhaar card, bank account details, and proof of business address.
STEP 6
Once the documents are uploaded, submit the application for GST registration.
STEP 7
After submitting the application, you will receive an application reference number (ARN) on your registered email ID and mobile number. The GST officer will verify the application and approve it within a few days.
Document Required for GST Registration
- PAN Card of Applicant
- Aadhaar Card of Applicant
- Business Registration Proof
- Address Proof for Place of Business
- Bank Account Proof
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
- Photograph of Applicant
- Details of Goods and Services to be Supplied
- Mobile Number and Email ID of Applicant and Authorized Signatory.
GST Modification
GST Modification refers to the process of making changes or updates to the GST registration details. Any changes made to the registration details must be updated with the GST authorities within a specified time frame. Failing to do so can result in penalties and legal action.
GST Modification can be initiated by the taxpayer for various reasons, such as a change in the legal name of the business, a change in the business address, or a change in the business structure. In this article, we will discuss the process of GST Modification and the documents required for the same.
GST Modification Process
The process of GST Modification is straightforward and can be completed online. The following steps outline the process of GST Modification:
1. Visit The GST Portal
The first step in the process of GST Modification is to visit the GST Portal. The GST Portal is an online platform where taxpayers can register for GST and perform various GST-related activities.
2. Login To The GST Portal
Once you have accessed the GST Portal, log in using your GSTIN (Goods and Services Tax Identification Number) and password.
3. Select The Modification Tab
After logging in to the GST Portal, select the Modification tab. This tab will allow you to make changes to your GST registration details.
4. Select The Appropriate Section
Depending on the type of modification you want to make, select the appropriate section. For example, if you want to change the legal name of your business, select the Legal Name Change section.
5. Fill In The Details
Once you have selected the appropriate section, fill in the details as required. Ensure that all the details provided are accurate and up to date.
6. Upload Supporting Documents
After filling in the details, you will be required to upload supporting documents. The documents required will depend on the type of modification you want to make. Ensure that the documents uploaded are in the prescribed format and size.
7. Submit The Application
Once you have filled in the details and uploaded the supporting documents, submit the application. After submitting the application, you will receive an acknowledgement receipt.
8. Wait For Approval
After submitting the application, the GST authorities will review the application and approve it if all the details provided are accurate and up to date. You can track the status of your application on the GST Portal.
Documents Required for GST Modification
The documents required for GST Modification will depend on the type of modification you want to make. The following is a list of documents required for some of the common modifications:
Change in Legal Name
- Certificate of Incorporation (in case of a company)
- Partnership Deed (in case of a partnership firm)
- Certificate of Registration (in case of an LLP)
- Proof of the name change (such as a Gazette Notification)
Change in Business Address
- Address proof of the new place of business (such as a rental agreement or electricity bill)
- NOC from the landlord (if the business premises are rented)
Change in Business Structure
- Partnership Deed (in case of a partnership firm)
- Certificate of Registration (in case of an LLP)
- Certificate of Incorporation (in case of a company)
Addition or Deletion of Authorized Signatory
- Letter of Authorization
- ID proof and address proof of the authorized signatory
GST Modification is a crucial process that must be completed within the specified time frame. Failure to do so can result in penalties and legal action. The process of GST Modification is straightforward and can be completed online. Ensure that you have all the required documents in the prescribed format and size before submitting the application. If you are unsure about the process or require assistance, seek the help of a GST professional.
GST CANCELLATION
GST cancellation is a process that allows a taxpayer to cancel their GST registration. It may be necessary for a variety of reasons, such as the closure of a business or a change in ownership. In such cases, a taxpayer can apply for GST cancellation to avoid any future compliance obligations and potential penalties for non-compliance. In this article, we will discuss the procedure for GST cancellation and the documents required for the same.
GST Cancellation Process
The process for GST cancellation can be initiated through the GST portal. The following are the steps involved in the GST cancellation process:
STEP 1
Log in to the GST portal using your credentials.
STEP 2
Click on the ‘Services’ tab and select ‘Registration’.
STEP 3
Click on ‘Application for Cancellation of Registration’ under the ‘Services’ tab.
STEP 4
Fill in the details required in the form. You need to provide the reason for cancellation of GST registration, the date from which cancellation is requested, and the details of the input tax credit (ITC) to be reversed.
STEP 5
Upload the supporting documents required for GST cancellation, such as proof of closure of business, change in ownership, etc.
STEP 6
Submit the application.
STEP 7
Once the application is submitted, it will be verified by the GST officer. If any further information is required, the officer may ask for the same through a notice.
STEP 8
If the GST officer is satisfied with the application, they will issue an order for cancellation of GST registration.
STEP 9
The GST registration certificate will be cancelled from the date specified in the order.
Documents Required for GST Cancellation:
The following are the documents required for GST cancellation:
A copy of the GST registration certificate
Proof of closure of business, such as a copy of the closure order or a letter of closure from the relevant authorities
In case of a change in ownership, a copy of the agreement or certificate of sale, transfer, merger, or amalgamation
A statement of the tax liability, if any, and the payment of the same
Details of the stock held by the taxpayer on the date of cancellation, if any
Proof of destruction or disposal of goods, if any
Any other document as may be required by the GST officer
Penalties for Non-Compliance:
Failure to cancel the GST registration when required can attract penalties and legal action. If a taxpayer fails to cancel their GST registration and continues to file GST returns, they will be considered as a registered taxpayer and will be liable to pay GST along with penalties and interest. The penalties for non-compliance are as follows:
A penalty of Rs. 10,000 or 10% of the tax due, whichever is higher, will be levied.
If the taxpayer continues to file GST returns despite cancellation, a penalty of Rs. 100 per day for CGST and Rs. 100 per day for SGST will be levied, subject to a maximum of 0.25% of the taxpayer’s turnover in the state or union territory.
GST cancellation is a simple process that can be completed through the GST portal. However, it is important to ensure that all the necessary documents are submitted and that the process is completed within the stipulated time frame. Failure to cancel GST registration when required can lead to legal action and penalties, which can be avoided by following the procedure outlined above.