Exploring the validity period of GST registration

The Goods and Services Tax Network (GSTN) has given a procedure to extend the validity of GST registration in India. Any individual who want to extend the GST registration validity should follow these steps: 

• Visit www.gst.gov.in the official GST portal and login with your accurate credentials. 

• Provide required details with your current GST registration number, legal name and GST extension reason. 
• On the main menu access the “Services” section. 
• Click on the “Registration” and select “Application for Amendment of Registration Core Fields.”

• Upload relevant supporting documents.  
• Review the filled details and supporting documents to ensure accuracy. Now submit the application. 
• Keep tracking your application status with the help of “Track Application Status” on the “Service” section. 
• Your application will be approved once it meets the necessary criteria and your GST registration validity will be extended. The updated validity period can be checked on the GST portal.

The validity period of GST registration

Documents required for validity extension

Documents that are required for GST validity extension are summed as below:

Read More: What is Goods and Service Tax and How is it calculated?

• Application forms that can be obtained from the tax authorities website or office need to be filled.
• Valid Identity proof like PAN card, Aadhaar card, and Passport. 
• Business address proof such as electric bill, rent agreement, or ownership document.
• Business bank account details including account number, branch name, and IFSC code.
• You may also need to submit financial statements like balance sheets, audited financial reports, profit and loss statements. 
• Business registration relevant documents like certificate of incorporation. Meaning in what way your business is registered as a company, partnership or LLP. 
• You can also be required to provide your filed GST return copy.
• Other supporting documents related to your business activities such as Invoices, sales registers, stock records, purchase register, or others.

Applying for validity extension online/offline

Here is a general overview of steps that need to be followed for applying for GST validity extension online/offline: 

• Checking eligibility criteria for GST validity extension, registered businesses need to apply for an extension before the validity period expires. 
• Gather necessary documents that are required, like I’d proofs, financial statements, tax returns, and other relevant documents. 
• Visit the official GST portal and fill the application form or online service. 
• Provide accurate information in the application form like GST registration number, contact information, business name, and more.
• Attach supporting documents properly in the required file format. 
• Submit the application form through an online portal after completing it with the necessary documents. Review the application form and other documents for accuracy. 
• Pay fees for GST validity extension if applicable, and pay by following the instructions provided on the portal. 
• Receive an acknowledgment or reference number for tracking the progress of the application. 
• Wait for the application review from the tax authorities. 
• Once your application is processed, the tax authorities will approve your request for a GST validity extension.
• Upon approval, you will get a confirmation of the new validity period for your GST registration. 

Consequences of non-compliance with validity extension

Here are some of the general potential consequences that can arise for non-compliance with GST validity extension:

• Penalties and Fines: one can be imposed with penalties and fines by tax authorities in case of non-compliance with GST validity extension. 
• Overdue tax interest: you can be labelled with interest on late payment in case you fail to comply with GST validity extension. Interest on late payment can vary as per local tax laws. 
• Input tax credits loss: non-compliance can lead to loss of input tax credits or its denial. This can affect business profit and can also increase the overall tax liability. 
• You can face Legal proceedings and prosecution because of non-compliance with validity extension. In severe cases the defaulter can face legal proceedings from tax authorities like prosecution, penalties, fines and even imprisonment.
• Damage of business reputation and trust can be faced because of non-compliance. It may lead to loss of customers, partners and investors, you can even face long-term consequences. 

Read More : What are some Advantages of filing GST returns?

Conclusion

GST registration validity extension is very important and in case of non-compliance with validity extension a business can face penalties and fines and can also damage business reputation. You must need to know the exact procedure of GST registration validity extension to extend the validity of your GST registration in India.

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