GST Registration for Small Business in India
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If you are a small business owner, then GST registration for your business is one of the most important things that you need to get done. It will help you in many ways including making your taxes easier and also securing a loan for your business. This article will guide you through the entire process of GST registration for a small business in India.
Firstly, you need to visit the official website of GSTN and click on 'New Registration'. Then, fill all the required details including your PAN number and the address of your business. Once the details are filled, click on 'Proceed'. You will then receive two different OTPs on your registered mobile number and email id. After the OTPs are entered, a temporary reference number will be generated which is your GST registration number or TRN.
Once your TRN is generated, you can start the filing of GST returns online. There are certain other documents that you need to submit along with the return, such as the copy of your bank account statement, cancelled cheque, business registration proof or incorporation certificate, director's/promoter's ID proof and photographs, etc.
The new tax regime of GST will bring about a lot of changes in the way businesses operate in India. You can do this by visiting the official website of the GSTN. Small and medium sized enterprises are going to face a few immediate challenges in terms of compliance requirements but with proper guidance they can make it through this phase successfully.
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