All You Need to Know About GST and GST Certificate for Your Business

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You would have heard of GST, but what is GST really and how would you do a GST certificate download. Goods and service tax also known as GST is a very popular term which the businessman commonly uses.

It is a cluster of different indirect taxes levied in India like excise duty, service tax, entertainment tax, etc. GST is brought into the nation to merge the different types of taxes into one. It was effected from 1st July 2017.

Advantages of GST

• Detailed information about GST can be found at www.cbec.gov.in
• The website for GST registration is www.gst.gov.in
• Check for threshold limit before registering
• Three different types of taxes are levied under GST, which are IGST, CGST, and SGST.
• Monthly returns in GST and one annual return as per the prescribed rates are filed.
• GST is levied when supply is made.
• An input tax credit can be availed only when the person is registered and eligible.
• While supplying goods or services, a registered person must check the rates and HSN codes for filing correct information in GST returns.
• In GST composition scheme can be availed by eligible taxpayers.

GST registration

The process followed by a person to get registered himself into GST is GST registration. A person becomes taxable and is required to get registration under GST only when the turnover of the business exceeds ₹40 lacs.

For certain cases, the threshold limit is reduced to ₹10 lacs. As per the law, registration is mandatory for few businesses like e-commerce operators.

The registration process is simple, and it generally takes 3 to 6 working days for the application to process and generate a GSTIN. After that, you’ll be able to do a GST certificate download.

What is GSTIN?

GSTIN or goods and service tax identification number is a unique 15 digit number given by the GST department to the taxpayers at the time of registration. In order to obtain registration under GST, a person is required to pay zero fees to the government.

If you are a person coming under the following categories, then it’s important that you should register yourself for GST.

• Persons already registered under excise or VAT or other indirect taxes before GST.
• E-commerce operators or a person who supplies through E-Commerce platforms.
• Persons receiving the goods or services or both and are required to pay tax under the reverse charge mechanism.
• A non-resident taxable person.
• Casual taxable person.
• Input service distributor or ISD.
• Principals and agents are supplying goods or services or both.

The following documents are required when you applied for registration under GST.

• Applicant’s PAN
• Applicant’s Aadhar card
• Bank account statement
• Canceled cheque
• Address proof for the place of business
• Digital Signature of the applicant
• Incorporation certificate of the business or any proof for business registration
• Details of the directors of promoters in case of a company
• Board Resolution or Letter of Authorisation

After filing an application for registration under GST, the department provides a GST certificate in the form of GST REG-06. It is a valid document that is proof for GST registration.

A GST certificate contains:

• GSTIN of the registered person
• Trade name of the business
• Constitution of the business
• Date of registration
• Type of registration
• Commercial address of the principal place of the business
• Details of the approving authority
• Date of liability

The person who registered himself can download his GST certificate from the portal through which he filed his application for registration.

The following steps explain in detail to how download the GST certificate from the portal:

• Open the GST portal and log in.
• After logging in, go to the tab named SERVICES, then USER SERVICES.
• There is an option in user services known as view or download certificate.
• Go to the download option.
• On clicking, a PDF document is downloaded.
• Open the PDF document and take a printout so that you can put it at your place of business.

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Summing up

GST aims at creating one nation one tax system in India. It has subsumed a majority of indirect taxes and has also helped in reducing compliance. Small businesses also benefit from the new regime. In GST, everything is conducted online, like return filing and application for refund. All work is done under a single website. We hope you have understood what is GST.

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