If you are a Small and Medium business owner or a startup founder in India, then you might be aware of the Goods and Services Tax (GST) and its impact on your business. GST is a comprehensive tax levied on the supply of goods and services across the country.
If your business turnover exceeds Rs. 20 lakh, you need to get registered under GST. The registration process is quite simple; however, if you have not migrated to the new GST regime, then you need to follow the GST migration process to continue enjoying the benefits of GST.
GST Migration is the process of moving from the earlier tax regime to the GST system. Businesses that were registered under Central Excise, Service Tax, or VAT need to migrate to the GST regime.
Under GST, there is no concept of provisional registration; hence, businesses need to migrate to the GST system to obtain a permanent registration number (GSTIN).
1. Visit the GST portal (www.gst.gov.in) and log in using your credentials.
2. Click on the 'Services' tab and select 'Registration' from the drop-down menu.
3. Click on the 'Application for GST Migration' option.
4. Fill in the required details in the application form and submit it.
5. After submission, you will receive an Application Reference Number (ARN).
6. Once your application is processed, you will receive an SMS and email regarding the status of your application.
7. If your application is accepted, you will receive your GSTIN and can start using the GST system.
If you have already applied for provisional registration under GST, then you need to cancel the provisional registration before migrating to the GST system.
1. Visit the GST portal (www.gst.gov.in) and log in using your credentials.
2. Click on the 'Services' tab and select 'Registration' from the drop-down menu.
3. Click on 'Application for Cancellation of Provisional Registration'.
4. Fill in the required details and submit the application.
5. After submission, you will receive an Application Reference Number (ARN).
6. Once your application is processed, you will receive an SMS and email regarding the status of your application.
7. If your application is accepted, your provisional registration will be canceled, and you can proceed with the GST migration process.
The GST migration process is not complicated, and businesses need to migrate to the GST system to obtain a permanent registration number. If you have already applied for provisional registration, then remember to cancel it before migrating to the GST system.
By migrating to the GST system, businesses can enjoy various benefits such as the seamless flow of input tax credit, simplified tax compliance, and reduced tax burden.
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