Kennet Cruises

Goods and Service Tax Registration

As a business with international operations, it is crucial to ensure you are compliant with all goods and service tax (GST) regulations. This means registering to collect GST in all locations you have tax obligations, filing on time, and keeping accurate records of all transactions. Many countries make this process much easier than in the past by allowing you to register online. Some even offer a streamlined version of their traditional registration process for overseas businesses.

If you are unsure whether your business needs to register, it’s worth checking with the local tax authority. They should be able to help you determine whether your goods or services are taxable and give you a list of steps you must take to comply with the law.

Depending on the country, GST goods and service tax registration registration can be required for businesses with a turnover above a certain threshold. Some countries have additional tax obligations such as provincial sales taxes, which must be collected and reported in addition to the national GST.

In most cases, you must file a GST return on a quarterly basis. If your turnover is high, you may be required to file a return every month. Filing requirements can vary by country, so it is important to check with your local tax office for guidance.

Once you’ve registered, you will receive a unique GST number that must be included on all invoices and reports. The GST number will help identify your business in the government’s records and is used to track your GST returns and payments. You can also use your GST number to claim input tax credits, or ITCs, which can reduce your tax burden by enabling you to recover VAT on purchases of goods and services that you use in your business.

To register, go to the GST portal and select the ‘New Registration’ option. You will be given an application reference number or TRN and asked to fill in part B of the registration form. The forms require you to provide details such as your trade name, business constitution and district. It is important to note that the trade name you report should be different from your legal name, which can only be changed via a core amendment request once you’ve been granted a GSTIN. You must also report your bank account details at the time of registration, although this was made non-mandatory since 27th December 2018.

You will also be required to submit documents relating to the premises where you operate your business. You should include the address, district, sector/circle/ward/charge/unit, commissionerate code, division code and the official contact number of the location. You must also indicate if you’re eligible to opt-in/out of the composition scheme for manufacturers and other persons.

Once you’ve submitted the forms, the department will notify you if the application is complete or not. If it is, you’ll receive a registration certificate in a few days. If you’re unable to receive the certificate, you can contact your jurisdictional assistant or deputy commissioner to find out why.