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GST registration-New amendments

Kalyani Srinivas (33 Points)

27 September 2024

Whats the procedure to obtain GST license(Composition scheme). What are the steps involved in it?

Please explain.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (4112 Points)
Replied 27 September 2024

Obtaining a GST license under the Composition Scheme involves the following steps: 1. Check eligibility: Ensure your business meets the eligibility criteria for the Composition Scheme, such as having a turnover below the prescribed limit (currently ₹1.5 crores). 2. Create a provisional ID and password: Register on the GST portal (www.gst.gov.in) and create a provisional ID and password. 3. Fill Form GST REG-01: Fill out the registration form with required details, including business information, authorized signatory, and authorized representative. 4. Verify email and phone number: Verify your email address and phone number through the OTP sent by the GST portal. 5. Fill Form GST REG-04: Fill out the composition scheme application form, providing required details like business details, turnover, and tax payment details. 6. Upload documents: Upload required documents, such as: - PAN card - Aadhaar card - Business registration certificate - Authorization letter (if applicable) 7. Pay composition fee: Pay the composition fee, which is a percentage of your turnover (currently 1% to 5%). 8. File Form GST CMP-02: File the declaration form, stating that you are opting for the Composition Scheme. 9. Approval and GSTIN: The GST officer will review your application, and if approved, you will receive your GSTIN (Goods and Services Tax Identification Number). 10. File quarterly returns: File quarterly returns (Form GST CMP-08) and annual returns (Form GST CMP-09).

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Kalyani Srinivas (33 Points)
Replied 27 September 2024

Does the officer personally come for inspection before approval of my application?

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