A Complete Guide to New Virtual GST Registration in India
Goods and Services Tax or GST is a combined tax system introduced by the government in India to make the process of indirect taxation hassle-free. Due to the growth of digital services, businesses no longer require physical documentation for GST registration. Virtual GST registration is now a reality. Let’s have a step-by-step guide to know about the virtual GST registration process.
Who Needs to Register for GST?
Businesses with a turnover of more than Rs. 40 lakh (Rs. 20 lakh in special category states).
Individuals dealing in inter-state supply of goods and services.
E-commerce sellers and aggregators.
Casual taxable persons and non-resident taxable persons.
Businesses that are compulsorily required to deduct TDS under GST.
Documents Required for Virtual GST Registration
PAN Card of applicant.
Aadhaar Card of the proprietor/partners (for e-KYC verification).
Business Address Proof (Utility bill, Rent Agreement, or Ownership document).
Bank Account Details (Cancelled cheque or bank statement).
Digital Signature (For companies and LLPs).
Incorporation Certificate (For companies).
Virtual Office Address Proof (For businesses utilizing co-working spaces or virtual offices).
Step-by-Step Process for Virtual GST Registration
Go to the GST Portal: www.gst.gov.in.
Click on ‘New Registration’ under the ‘Services’ option.
Enter Basic Details: Enter your PAN, email ID, and mobile number to get an OTP.
Enter Business Information: Provide details such as trade name, constitution, and principal place of business (virtual office address if applicable).
Upload Required Documents: Attach all necessary documents in the specified format, including virtual office proofs.
e-KYC Verification via Aadhaar OTP: Complete authentication using Aadhaar-linked OTP for quick approval.
Receive ARN (Application Reference Number): After submission, you’ll receive an ARN to track your application status.
Approval and GSTIN Issuance: After verification, the GST department will issue a GST Identification Number (GSTIN), finalizing the registration process.
Advantages of Virtual GST Registration
Easy and Trouble-Free: Fill out the registration process from anywhere without visits to physical offices.
Quicker Processing: Aadhaar-based authentication accelerates approval.
Economical: Avoids costs on physical office space with virtual office registration facilities.
Legal Recognition: Companies receive a legal identity, increasing credibility.
Input Tax Credit: Registered traders can claim ITC on tax paid on purchases.
Seamless E-commerce Operations: Compulsory for e-commerce sellers and service providers.
Final Thoughts
Virtual GST registration is a revolution for businesses of today, facilitating easy compliance with tax laws. When starting a new business or operating a virtual office, virtual GST registration ensures you remain tax-compliant without bothering with paperwork.
Struggling to do virtual GST registration? Take advice from the best professionals and they will ensure a smooth sailing!
Leave a Reply