Easy Guide to GST Registration Process for NRI
GST is said to be the biggest tax reform in India. Financial experts believe that it will improve the ease of doing business in the country and increase the number of taxpayers by bringing in millions of small businesses in India. Under the new GST regime, multiple taxes have been abolished, and a single tax system is implemented across the nation.
All individuals who are involved in buying or selling goods or providing services, need to obtain GST registration to operate their businesses smoothly, collect GST from customers and claim input tax credit of GST. If anyone breaches the law, there is the provision of penalty too.
According to GST Council, business entities in special category states with an annual turnover of Rs.10 lakhs and above will have to obtain GST registration. Other business organizations in the rest of India are required to get GST registration if their annual turnover exceeds Rs.20 lakhs. There are several other conditions that make it mandatory for business firms to obtain GST registration.
If you are an NRI and want to do business in India, then you need to get GST registration without any fail. In this article, we will discuss how NRIs can register for GST easily and quickly.
GST Registration Process For NRIs
(a) A taxable NRI will have to submit an online application for GST registration using the form GST REG-09. He/she needs to attach a self-attested copy of his/her valid passport with the application.
(b) Sign the application or get it verified through EVC
(c) Submit it at least 5 days before starting your business.
(d) If you are registering for GST on behalf of a company/business organization (established or incorporated outside India), you need to provide the tax identification number of that country (similar to India’s PAN card.)
(e) Submit an advance deposit of tax (as per your calculation) along with the application
If you don’t understand the above-mentioned procedures completely or have any problem to complete the GST registration procedure, don’t hesitate to take help from Tax Law firms in India. They have well-trained and experienced lawyers that can help you to understand the different provisions of GST easily and file your application appropriately.
(a) For final registration, you need to submit an online application using the form GST REG–26. You should submit the information in maximum 3 months.
(b) If you provide the complete and right information, the final GST registration will be allotted in FORM GST REG-06.
(c) If you don’t supply the accurate information, the responsible officer will issue a show-cause notice using the FORM GST REG-27. You will get a chance to explain your stand. After this, provisional registration will be revoked via the FORM GST REG-28.
(d) In case, if your response is satisfactory, then the show cause notice issued can be quashed by issuing a fresh order via the FORM GST REG- 20.
(e) You need to get the approval of an Indian person (who has a valid PAN card) to complete the registration process.
Many NRIs face problems to complete the final registration process because of a lot of complicated procedures and filling different forms. If you also face difficult in this step, you should seek legal consultation from International law firms India. This will help you to complete the above-mentioned steps easily and correctly & get a GST registration to do business in India without any problem.
India is an attractive destination for NRIs. The right procedure to get GST registration is mentioned here above. If you are an NRI and want to start your business in India, Just follow the GST registration process and get registered for it.