Details of Branch Registration Under GST Law
India is a diversely developing nation that is witnessing tremendous growth in different sectors on national as well as global level. The economic market at this time is highly favourable for the types of businesses to expand and develop. If you are planning to grow your business by developing new branches, then this is the right time for you to get started with the branch registration under GST law. It is a thrilling and scary task which can get much disorganized if you have not yet planned about the expansion of the company beforehand.
Excellence in the corporate world demands a good plan for business expansion. When you run a business, it becomes apparent that you continue being to look for opportunities for growth. Either you look out for vertical business extension or a new one. Whatever, maybe the choice, business expansion is the need of the hour for sustainability today.
The process of opening a new branch needs some additional considerations as it tends to affect the percentage of tax that you are going to pay, the volume of documentation required as well as the proportion of individual liability, you will begin to face.
What is the Procedure to Register a New Branch Under GST Law?
To start a new branch of the company in India means to obtain another physical address for the related business in a new region – it maybe cities or small towns. It does, however, mean that you are permitted to sell your goods and services across the state border. But having said that, this GST is incorporated with the entire business.
Same State Branches Registration for GST:
Do you have more than one branch in a state? If it is so, then and you need not register separately for different branches. Single GST registration is workable for all the branches of the same state. It is required to submit the details of all the existing branches to the primary office so that they can get the branch names mentioned in the registration certificate.
What Are the Steps to Add Branches in the Registration Certificate?
- Modify the existing registration certificate by adding a new branch address.
- Fill the GST-REG 14 Form. The process of branch registration under GST law has started from the time GST came into existence. Any amendment for GST can now quickly be done by just filling up the form.
You need not have to submit any additional documents to add the name of the branches. Later, the authority will legally verify and approve the changes. After the process of verification, the changes will get reflected on the online registration certificate.
Different State Branches Registration for GST
If you have your company branch in some other state, then you have to apply for new GST branch registration. If you have observed, the first two digits of the GST number represent the state codes so; every state has a different code in GST. Hence new registration is required.
What Are the Steps for New GST Registration for Branch?
- Go to the Goods and Service Tax Network (GSTN) official website and fill the application in GST REG-01.
- Submit the GST REG-02Form stating your acknowledgement. The details of both forms will go under verification.
- Then, the form GST-REG 06 will be available to you with the new GSTIN. This new unique number will have the two digits of the state code along with your PAN number.
What is the Procedure to Register for a New Business Vertical Under GST Law?
Entrepreneurs aim to see up business vertical to distribute their products and services in the market involving it’s a separate stake in the company. To opt for the new registration for business vertical is not a mandatory action. It depends upon the need of your business or other circumstances. In most cases, company owner tends to register separately for their business verticals due to the amount of risk and returns involved with the business vertical. Creating a business vertical as a distinct entity makes it straightforward to supervise the company and keep a close eye on its financial reports. Here is how you can have separate registration in the same state:
- If you are a composite GST dealer under section 9, then you needn’t register as a regular dealer under section 10.
- If you are a supplier for B2B vertical, then you need to pay tax and also raise a tax-invoice for the supplies.
Registering New Business:
- If you are running a registered business in another state and you have set up a business vertical there, then your business vertical will not be recognized. In this case, you need to get a new registration for the business vertical of that state.
- For the original registration, the entire process is the same as the previous one. Once the company vertical get registered, you will receive a fresh GSTIN from the officials. It will constitute the modified state code along with the PAN number. The 13th digit of GSTIN is the entity code, followed by your PAN number. This entity code represents the number of registrations done in the state.
Where Can I Find the GST Registration Information?
All the details associated with the GST registration of the company branch and vertical are available on the official website of the GSTN. Visit the website and enter the PAN number to check the number of GST registration with the same PAN.
Where Can I Get the Assistance for Branch Registration Under GST Law?
You can get assistance for GST registration at 3E Accounting. The primary focus of our organization is to provide one-stop solutions to our clients. We have a team of specially trained staff who are ready to assist you through the process of branch registration under GST law. Get all your questions answered with our representatives.
3E Accounting India
3E Accounting India is a corporate service provider and accounting firm assisting clients with company formation and incorporation. We offer company secretary and business-related services in India.
