GST Verification

What is GST Verification?

A GST Verification is a simple process by which a taxpayer gets registered under the Goods and Service Tax (GST). After the completion of the registration process, the Goods and Services Identification Number (GSTIN) is provided to the taxpayer. It is a 15 digit number which is provided by the Central Government of India. It helps to determine whether a particular business is liable to pay GST or not.

According to the rules of GST, it is important for a business that is having a turnover of more than Rs. 40 Lakhs to register as a normal taxable entity. It is the process of GST Verification. The turnover for the businesses that are present in North-Eastern states and hill states is Rs. 10 Lakhs. It is not a long process but is convenient and can be completed within 6 working days.

It depends on you as to how you want to do GST verification, it can be done either online or offline. The owners of the business can easily fill a form available on the GST portal and have to submit the required documents for registration. It is necessary for the businesses to complete the process of GST verification or else it is a criminal offence to carry out all the operations of the business without GST registration. Heavy penalties may be levied for non-registration.

Who Is Eligible For GST Registration?

The process of registration under GST must be completed by the businesses and individuals mentioned below: –

• Individuals who registered under the tax services before the onset of GST.
• The casual taxable person and the non-resident taxable person.
• Individuals who pay tax under the mechanism of reverse charge.
• All the aggregators of e-commerce.
• Business having a turnover exceeding the amount of Rs. 40 lakhs.
• Businesses having a turnover exceeding the amount of Rs. 10 lakhs in the North-Eastern states.
• Agents of a supplier and input service distributors.
• Individuals supplying goods via e-commerce aggregators.

Benefits of A GST Verification

There are a lot of benefits of verification under GST and some of them are mentioned below: –

• The goods can be sold online.
• The goods can be sold all over the country.
• Big projects from Multi-National Corporations (MNCs) can be accepted.
• It acts as valid proof as it is a legal registration entity.
• A current bank account can also be opened with the help of GSTIN.
• It helps in increasing the brand value of your business.

GST Registration Exemption

The individuals and entities mentioned below are exempt from the GST registration: –

1. Businesses that manufacture supply coming under reverse charge.
2. The activities that don’t come under the supply of goods and services. For instance, the sale of a building, funeral services, etc.
3. Businesses that make non-taxable/ non-GST supplies. For instance, electricity, aviation turbine fuel, high-speed diesel, natural gas, etc.
4. Businesses that make nil rated or exempt supplies.
5. Agriculturists.
6. Businesses falling under the limit of threshold exemption limit.

Documents Required For Verification under GST

Some of the documents which are required for verification under GST are as under: –

• PAN Card
• Aadhaar Card
• Business Address Proof
• Digital Signature
• Cancelled cheque and bank statement
• Business registration proof or Incorporation certificate
• Director’s ID Proof, address proof and photographs
• Authorisation letter.

How Can I Check The Status of my GST Registration?

You can check the status of your GST registration by following the steps mentioned below: –

1. Visit the official portal of GST at https://reg.gst.gov.in/registration/.
2. Click on the option ‘Services’, then ‘Registration’, then ‘Track Application Status.
3. Enter the ARN number and Captcha code.
4. Then, click on the Search button.
5. And then you will receive the following GST registration status on the screen: –

• Pending verification status.
• Provisional status.
• Validation against the error.
• Cancelled status.
• Migrated status.

FAQs About GST Verification

✅Is the registration free of cost?

Yes, the process can be done online without any charges.

✅Is it mandatory to have a bank account for GST verification?

No, it is not mandatory. You can register without having a bank account too.

✅Can I surrender my GST Number?

Yes, you can surrender your GST Number.