The introduction and implementation of the Goods and Services Tax (GST) in 2017 were accompanied by widespread confusion and curiosity, and understandably so. The GST was introduced to nullify the cascading effect of taxes under the previous tax structure.
While it may have left most of the population perplexed, businesses across various sectors have reportedly increased their productivity and revenue.
In any case, it is undoubtedly liberating that you can look up everything related to the GST online on the GST portal. If you plan to make use of the GST portal, it is a good idea to pick up on its services, functions, and everything else it offers.
GST Portal Registration
If you have a business of any kind, registering it for GST on the GST portal online to get your GST number (GSTIN) is imperative.
Make sure you visit the official GST website and apply for GST Registration. You can complete your business' GST registration by submitting the required documents.
- Personal Account Number (PAN)
- Your Aadhar Card
- Proof of your Business Registration or Incorporation Certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the location of your business
- Bank Account statement or a Cancelled cheque
- Digital Signature
- Letter of Authorization or Board Resolution for Authorized Signatory
Go to the GST portal and click on 'Register Now' under 'Taxpayers.'
Choose the 'New Registration' option and select 'Taxpayer' in the drop-down menu that you can see under 'I am a.’ Then select the state and district of your choice. Submit the required details, including your registered mobile number and email. Once you get an OTP, enter it and click on continue.
Your Temporary Reference Number (TRN) will be displayed. You will also receive it on your registered mobile number and email ID.
Select TRN, and enter it along with the captcha code that pops up, and click on the 'Proceed' option.
Once you enter the OTP you receive on your mobile, the status of your application will be displayed as a draft. Click on the Edit option to proceed to the next step of the GST registration.
Continue your GST registration on the GST portal by submitting the required documents. You can submit your application via Digital Signature Certificate (DSC), E-Sign, or Electronic Verification Code (EVC)
Logging into the online GST Portal
- Head over to the GST Portal online, and click on the 'Services' tab.
- Enter username and password, the given Captcha code and click on ‘LOGIN.’
- You will be redirected to the dashboard once the login is successful. You will be able to view a summary of the GST Credits that you have, the amount of GST Payable (if applicable), GST Notices, and so forth.
GST Portal Services
The official GST website has a bunch of services under its belt. For a detailed view, head to the online GST portal and click on the 'Services' tab. Here are a few services worth looking into:
Application for a GST Practitioner
At this point, roughly 60 to 70 Lakh businesses are about to register on the GST portal before the window shuts. Companies that are unaware of GST Portal-related processes ought to look for a professional to help them with this.
The following people are eligible to become GST Practitioners:
- A retired officer from the Commercial Tax Department of any State Government or the CBEC who has worked as a Group-B (or higher) gazetted officer for a minimum of two years
- A Sales Tax Practitioner registered for a minimum of five years
- A Graduate or Post-Graduate in Law, Higher Auditing, Commerce, Business Administration or Business Management from any Indian University or a reputable foreign University
- A Chartered or Cost Accountant or a Company Secretary
Filing GST Returns
Every registered dealer or business is expected to file GSTR-1 every month. The return should contain the details of all the outward supplies made during the month.
However, taxpayers who have an annual turnover within Rs 1.5 Crores can choose to file the GSTR-1 every quarter. You can file the return on the GST Portal/ GSTN. Here's how:
- Visit the official GST website and login to the GST Portal
- Click on 'Services' and the 'Returns' tab and then click on 'Returns Dashboard.'
- This will redirect you to the 'File Returns' page. On the drop-down menu, select the correct financial year and the month for which you wish to file the return and then hit the search button.
- This will show you the details of all the outward supplies of goods or services.
GST Payments through the GST Portal
After claiming the Input Tax Credit (ITC), taxpayers are required to pay the balance GST.
- Head to the official GST website and enter your username, password, and the given captcha code to log in to the GST Portal.
- Then, go to Services, select payments and click on 'Create Challan'
- Enter the amount you have to pay and select your desired method of payment. It can be over the counter, NEFT/RTGS, Internet Banking, or Debit Card/Credit Card. Once you fill in the details, click on 'Generate Challan.'
- A summary page containing all the details of the challan will be displayed. Select your mode of payment and click on 'MAKE PAYMENT.'
- Once you make the payment, you will receive a challan that contains all the details of the tax paid. This challan will be credited to your cash ledger account.
The GST Portal proves to be a useful platform to take care of your GST-related endeavors. Newbies and intermediates alike can greatly benefit from the GST Portal, India’s online tax office.