GST: Planning to invest in India? NRIs too need to get registration done
The government in an official notification said that if you are existing Taxpayer under VAT, Service Tax and Central Excise, you can enroll yourself at the GST Portal. Enrolment window will remain open till next three months.
Just three days left for Goods and Service Tax (GST) to officially launch in the country. Ahead of its roll out, the GST Network, the company which is providing information technology systems for GST, has once again opened registration for assessees on Sunday.
The government in an official notification said that if you are existing Taxpayer under VAT, Service Tax and Central Excise, you can enroll yourself at the GST Portal. Enrolment window will remain open till next three months.
While the traders in India are gearing up for the third phase of registration, if you are a non-resident and planning to invest in India, you need to register too.
ALSO READ: GST rollout: Registration window reopens for 3 months, here's how you can do it
According to ClearTax.com. the Goods and Services Tax Law has defined a ‘non-resident taxable person’ as any person who occasionally undertakes transactions involving the supply of goods or services, or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.
In simple words, any and all the businesses which are supplying goods or services or data retrieval services from databases located outside India will fall under this definition and will come under the purview of the Goods and Services Tax law.
Here's how NRI can register themselves:
A non-resident taxable person will file electronically an application for registration using the FORM GST REG-09 along with a self-attested copy of his valid passport. The application must be duly signed or verified through EVC or Electronic Verification Code, ClearTax said.
EVC is a new mode of electronic verification based on Aadhaar card. All forms uploaded in the GST Portal must either be signed or verified through EVC.
ALSO READ: Traders can e-verify GST registration application via OTP
Also, the form must be submitted at least five days prior to the commencement of business. In case, it is a foreign business entity (incorporated or established outside India) the application for registration shall be submitted along with its tax identification number of that country (similar to our PAN) or its PAN (if it has one).
An advance deposit of tax (based on estimation) must also be submitted along with the application.
Final Registration
Final registration will be made in the same way as in the case of resident taxpayers as follows:
ALSO READ: Looking to register for GST? We outline the steps
- If the person wishes to register under GST, then he will submit an application electronically using the FORM GST REG–26. Any information must be furnished within a period of three months.
- If the information is correct and complete, the final GST registration will be given in FORM GST REG-06.
- If the information is not correct, then the officer will issue a show-cause notice using FORM GST REG-27. A reasonable opportunity of being heard will be given after which the provisional registration will be cancelled through the FORM GST REG-28.
- If the applicant’s reply is satisfactory then the show cause notice issued can be nullified by issuing an order via the FORM GST REG- 20.
So NRIs get yourself registered now and do not wait for three months to end.
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