GST Registration for Small Business in India

GST Registration for Small Business in India

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If you own a small business in India, GST registration is one of the essential things that you should take care of. The process is easy and the benefits are endless. In this article, we will cover everything you need to know about getting a GST number for your business.

GST is a tax that was introduced in India in 2017. The aim of the new system is to replace multiple indirect taxes that were levied by both the central and state governments with a single tax. This has also helped in reducing the cascading effect of taxes and making the whole system more transparent.

In order to register for GST, you will need to have a few documents. Some of these are the Memorandum of Association/Articles of Association and partnership agreement, bank details, address proof (like a cancelled cheque or a bank statement), photograph and authorised signatory proof. You will also need to have a digital signature to complete the process.

Once you have the above-mentioned documentation ready, you can visit the GSTN website and click 'New Registration'. Once you have filled all the required information, separate OTPs will be sent to your email ID and registered mobile number. Enter the OTPs and click 'Proceed'. You will then be shown a Temporary Reference Number which you need to keep a note of.

GST registration for a small business in India is a necessary process to make your business legal and get access to various benefits like the input tax credit which can be used to reduce your overall tax liability or even to pay off your debts. It also helps in building a sense of trustworthiness amongst consumers as you are now considered a genuine supplier of goods and services.

  

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