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Published on:
February 23, 2023
By
Pranjal Gupta

Verification of Application for Grant of New GST Registration

GST or Goods and Services Tax is one of the biggest transformations in the field of indirect tax in India. The introduction of GST has made it much easier for businesses to pay and file their taxes. If you are a small or medium business owner or a startup founder, you must have a GST registration to be able to conduct business in India. In this article, we will guide you through the process of verification of application for grant of new GST registration.

What is GST Registration?

GST registration is mandatory for every business that has a turnover of more than Rs. 20 lakhs. It is an online process that can be done easily through the GST portal. It is also advisable to get GST registration even if your turnover is below Rs. 20 lakhs as it provides various benefits such as input tax credit.

Verification of Application for Grant of New GST Registration

After submitting your GST registration application, the next step is verification. The GST department verifies the application to ensure that all the information provided is correct and complete. The verification process is important to prevent fraudulent activities and to ensure that only eligible businesses get GST registration.

Step 1: Verification of PAN

The first step in the verification process is to verify the PAN or Permanent Account Number. The PAN is verified with the Income Tax Department to ensure that it is valid and belongs to the applicant. The GST department also verifies the name of the applicant with the name provided in the PAN. If there is any discrepancy, the application is rejected.

Step 2: Verification of Mobile Number and Email ID

The next step in the verification process is to verify the mobile number and email ID provided by the applicant. The GST department sends an OTP or One Time Password to the registered mobile number and email ID. The applicant has to enter the OTP to authenticate their mobile number and email ID. If the OTP is not entered within the stipulated time, the application is rejected.

Step 3: Verification of Address

The GST department also verifies the address provided by the applicant. The verification is done by sending a physical verification letter to the given address. The applicant has to respond to the letter by providing the necessary documents to prove their address. If the applicant fails to respond to the letter within the stipulated time, the application is rejected.

Step 4: Verification of Bank Account Details

The final step in the verification process is to verify the bank account details provided by the applicant. The GST department verifies the bank account number, IFSC code and the name of the account holder with the bank. This is done to ensure that the bank account belongs to the applicant and that it is a valid account. If there is any discrepancy, the application is rejected.

Conclusion

Verification of application for grant of new GST registration is an important process to ensure that only eligible businesses get GST registration. The process involves verification of PAN, mobile number and email ID, address and bank account details. It is important to ensure that all the information provided is correct and complete to avoid rejection of the application. If you are planning to register for GST, make sure to follow the guidelines mentioned above for a hassle-free registration process.

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Updated on:
March 16, 2024