Introduction
GST is a crucial tax for startups operating in India. Registering for GST ensures compliance and avoids penalties. This guide explains everything you need to know about GST registration and compliance.
Who Needs to Register for GST?
- Businesses with annual turnover exceeding ₹20 lakh (₹40 lakh for some states).
- E-commerce businesses and service providers.
- Businesses involved in inter-state supply of goods/services.
Step-by-Step GST Registration Process
- Visit the GST Portal: www.gst.gov.in
- Fill Online Application: Provide PAN, business details, and address proof.
- Verify with OTP: Submit Aadhaar-based OTP verification.
- Receive GSTIN: After verification, get a unique GST Identification Number (GSTIN).
GST Return Filing & Deadlines
Startups must file monthly, quarterly, or annual GST returns, depending on turnover and tax scheme.
- GSTR-1: Details of outward supplies (monthly/quarterly)
- GSTR-3B: Summary return (monthly)
- GSTR-9: Annual return
Common GST Pitfalls & How to Avoid Them
- Late filing leading to penalties
- Mismatch of invoices in GST returns
- Not claiming Input Tax Credit (ITC) properly
How a CA Helps with GST Compliance
A CA ensures error-free GST registration, timely filing, and audit preparedness.