Goods and Services Tax (GST) has revolutionized the way businesses operate in India. Registering on the GST portal is the first crucial step for any business that wants to comply with GST regulations. However, many businesses, especially small and medium enterprises, often make errors during the GST portal registration process, which can lead to delays, rejection of applications, or future compliance issues.
If you are planning to register for GST, this blog will guide you through the common mistakes to avoid and how tools such as accounting software and online billing software can help streamline your GST journey.
Why Is GST Portal Registration Important?
GST portal registration is mandatory for businesses exceeding the turnover threshold or involved in interstate supply. It not only legitimises your business but also enables you to claim input tax credit, file GST returns, and ensure smooth operations without legal hurdles.
Given its importance, it’s essential to avoid mistakes that could complicate or prolong the registration process.
Common Mistakes to Avoid During GST Portal Registration
1. Incorrect or Incomplete Details in Application
One of the most frequent errors is submitting incorrect or incomplete information. Whether it’s the business name, PAN details, or contact information, even a small discrepancy can result in rejection or delays.
- Ensure your PAN is correctly entered.
- Match the business name exactly as on the PAN card.
- Provide accurate address details supported by valid documents.
- Double-check your mobile number and email ID for OTP verification.
2. Uploading Incorrect or Poor-Quality Documents
Documents are the backbone of your registration process. Many applicants upload unclear or invalid documents, which stalls the approval process.
- Upload scanned copies of documents in the specified format and size.
- Ensure documents including Aadhaar card, PAN card, proof of business address, and bank statements are clear and legible.
- Use the latest documents wherever applicable.
3. Ignoring Eligibility Criteria
Not every business needs to register under GST. Registering without fulfilling eligibility can lead to unnecessary complications.
- Understand the turnover threshold (₹40 lakhs for goods, ₹20 lakhs for services in most states).
- Check if your business is involved in interstate supply, which mandates registration.
- Seek professional advice or use accounting software to assess your business needs accurately.
4. Not Using the Correct Application Type
The GST portal offers multiple types of applications based on your business category such as:
- New registration
- Composite scheme registration
- Amendment of registration
Choosing the wrong application type can cause confusion and delays.
5. Mistakes in Bank Account Details
Bank account details are critical for refunds and payments. Entering incorrect bank details can cause financial hassles later.
- Provide the correct IFSC code.
- Ensure the bank account is active and in the business’s name.
- Upload the correct cancelled cheque or bank statement.
6. Not Verifying the Application Properly
GST portal registration requires verification through OTP on the registered mobile number and email. Missing or delaying this step leads to incomplete registration.
- Complete OTP verification promptly.
- Use updated contact information.
- Check spam/junk folders for email communication from the GST portal.
7. Overlooking Help from Accounting and Online Billing Software
Manually handling GST registration and compliance is prone to errors. Many businesses ignore the advantages of modern tools like accounting software and online billing software, which simplify these tasks.
- Software like MargBooks provides automated GST portal registration assistance.
- Integration with accounting systems ensures accurate data capture.
- Helps maintain seamless billing and invoicing as per GST norms.
How Can Marg Books Help You Avoid These Mistakes?
MargBooks, a trusted name in business software, offers an all-in-one solution for GST registration and compliance. Here’s how MargBooks can ease your GST journey:
- Step-by-step GST portal registration assistance: Guides you through the registration process, ensuring correct submission.
- Document management: Stores and manages all your GST-related documents digitally.
- Accounting integration: Automatically updates your financial data to avoid discrepancies.
- GST-compliant billing: Enables easy generation of GST invoices with its online billing software.
- Automated return filing: Simplifies monthly/quarterly GST return filing and reconciliation.
Using MargBooks reduces the chances of manual errors and streamlines your GST compliance, saving you valuable time and effort.
Additional Tips for Smooth GST Portal Registration
- Keep all documents ready: Before starting registration, gather all required documents.
- Use a reliable internet connection: Avoid interruptions during the online application process.
- Seek professional help if needed: Consulting a GST expert or a CA can save you from costly errors.
- Stay updated on GST rules: GST laws evolve, so keep yourself informed through official sources or software updates.
- Regularly check your GST dashboard: Post-registration, monitor your GST portal for notices or status updates.
Conclusion
GST portal registration is a vital step in formalising your business and staying compliant with tax laws. Avoiding common mistakes such as incorrect details, poor document quality, and lack of verification can save you from unnecessary delays and penalties. Leveraging technology through accounting software and online billing software, MargBooks, can make the process smoother and hassle-free.
Remember, accurate and timely registration not only helps in legal compliance but also builds trust with your customers and suppliers. Take your GST registration seriously, follow these tips, and enjoy the benefits of a well-managed tax system.
