In India, the Goods and Services Tax came into effect on July 1, 2017. Commonly known as the GST, its concept was first introduced in the year 2000. The tax regime of GST took a total of 17 years to evolve until the law was finally passed in 2017.
GST is an Indirect Tax applicable to all goods and services. The GST regime replaces Central level VAT and State level VATs, in addition to all other indirect taxes, except the customs duty. GST is, therefore, one direct tax for the entire country.
Among the various advantages of the GST, it has eliminated the tax on tax, thus removing the cascading tax effect on sales of goods and services. This further also decreases the costs of goods.
Based on the Goods and Services Tax Act 2017, it is mandatory for any business with a turnover of Rs.40 lakh to register for GST. The turnover limit for North Eastern states is Rs. 10 lakh. The intricacies of GST turnover threshold are many, so be sure to check GST registration limit guidelines and latest GST news to ensure if GST applies to your business.
To acquire the benefits of GST and to not feel burdened by its complex registration process, let’s try to understand the simple steps of GST registration and the essential tech requirements to get your business GST ready.
The basic tech prerequisites for GST are – a personal computer or a Laptop, a Mobile phone, and an email ID. Your process will start on the GST portal.
To register, you will have to fill all details from Part A. To proceed, a One Time Password (OTP) will be sent on your registered mobile and email. Temporary Reference Number (TRN) will also be sent on your mobile and email. It is important to note TRN.
You will then proceed to the ten sections of Part B. To complete registration in this part, you will need to keep the following soft copies ready – photographs, constitution of taxpayer, proof of place of business, bank account details, and authorization form.
The GST application can be submitted by using a Digital Signature Certificate (DSC), Electronic-Signature, and Electronic Verification Code (EVC).
After having understood the process of GST registration, you will require the following tech prerequisites –
Prerequisites for the GST Portal are –
- A compatible desktop browser, Internet Explorer 10+, Chrome 49+, or Firefox 45+
- Cascading Style Sheet (CSS): It is necessary to render the set GST portal User Interface design. The absence of CSS will hinder the appropriate user experience.
- Java Script: It is necessary for enhanced user experience while using User Interface Controls. Failing to enable this, you will not be able to perform any transaction on the portal.
- Cookie: It is essential for your personal information. Failing to enable this, you will not be able to log in and will also not be able to perform any transaction on the portal.
Prerequisites to use DSC are –
- Desktop browser, Internet Explorer 10+, Chrome 49+ or Firefox 45+
- A valid class 2 or class 3 DSC from a DSC provider
Companies must submit GST application using a DSC.
For DSC Registration, GST Common Portal supports only Crypto Tokens, installed in Hard Tokens.
Furthermore, signing using DSC is not supported on mobile devices and other browsers.
Prerequisites for Web socket installer are –
- Windows 32/64 bit OS
- Java 1.6 JRE 1.6.0_38+, Java 1.7, Java 1.8
- Any of the following ports are free -1585, 2095, 2568, 2868, 4587.
You will be able to download the Web Socket Installer from the DSC Registration page of the GST Common Portal.
Upon downloading the Web Socket Installer, you will require to use the emSigner.msi executable file. The emSigner for GST is necessary to submit the application. The utility is required to sign, send, track, archive, and manage documents. It is also used for digitally signing the GST registration application and for GST return filing on the portal.
Making your business GST ready is inevitable. Non-compliance incurs penalties, and will eventually affect business operations. Low GST ratings of businesses may also lead to complete loss of business. It is only wise to get GST compliant and check gst number now.