How to Get GST Number for Sole Proprietorship Company in India


How to Get GST Number for Proprietorship Company In India

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GST (Goods and Services Tax) is a single indirect tax that replaced various state and central taxes including service tax, excise duty, value-added tax, entertainment tax, and CST. The unified GST regime is expected to make the country less tax-burdened and boost the overall economy by bringing in more investment, creating jobs, and encouraging growth. To comply with the new GST laws, all businesses must enroll for it and obtain a unique GSTN number from the government to identify themselves.

To apply for a GST registration Consultant, the sole proprietor must provide a valid PAN card, Aadhaar number, and address proof. The GSTN number will be generated online, so it is important to have all these documents ready before starting the process. Once registered, the business will have to file monthly returns and pay taxes. Failure to do so will result in a per day penalty.

Whether a sole proprietorship needs to register for GST depends on its annual turnover and type of business. E-commerce companies, for example, must register for GST if its annual turnover exceeds Rs 20 lakh. The same applies to businesses that sell goods and services in multiple states or union territories.

To apply for a GST number, visit the government website and select 'Register a Business' from the 'Services' menu. Enter your email ID, mobile phone number, and captcha code and click on 'Proceed'. You will receive OTPs to verify your information. Once verified, you will be given a temporary reference number (TRN). Make note of it as it will help in the next steps.

Upon completion, the ARN will be sent to the email and mobile phone of the applicant. The ARN will indicate whether or not the application has been accepted by the GST authority. Once the application has been approved, the business can begin to collect GST tax and file returns. The ARN will be valid for three years, after which the business must reapply.

 

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