Important Points about GST registration of partnership firm

A partnership is such a business structure where two or more people run the business together. Moreover, they not only share profits but also share loss, risk, and responsibility among themselves. Most importantly, for GST registration of partnership firm, you must register your business.

• The GST registration procedure is lengthy and necessitates the submission of business-related papers. Depending on the type of company you want to register, you’ll need to submit a different type of documentation.
• Find out what paperwork you’ll need to register for GST as a sole proprietorship, an individual, a partnership, an LLP, a private limited or public limited company, a HUF, or a society, trust, or club.
• In India, anyone can form a partnership firm through a written or oral agreement. Under this arrangement, two or more persons agree to split the profits from a business that is run by all or some of the partners. Partnership firms must submit a partnership deed as confirmation of their existence for Income Tax purposes. A PAN card application is also re-examined.

Procedure for GST Registration of Partnership Firm

• GST registration can be done online at the Goods and Services Tax website (www.gst.gov.in), where a Temporary Reference Number (TRN) for the applicant is assigned.
• Open GST website and generate TRN number.
• Fill the registration form.
• There are ten tabs in the registration application :

1. 1. Business details

   2. Promoter tab

   3. Authorised signatory tab

   4. Authorised representative tab

   5. Principle place of business tab

   6. Additional place of business tab

   7. Goods and services tab

   8. State-specific information tab

   9. Aadhaar authentication tab

   10. Verification tab

• Fill in all the details accurately in these different sections.
• Within three days of successfully submitting the Registration application and ensuring that all of the information provided in the application is correct, the GST Number, which serves as a user ID and password, will be sent to the authorized signatory.
• Once you receive your login credentials, go to the GST Login portal and click on the Here option under the First-time login option, as shown below, to change your username and password, which is mandatory.
• Now, use your new Login Details to access your GST Account. The system will prompt you to enter your bank account information in the following slide.
• Provide the bank account information. Attach the Bank Statement and submit it with the EVC.
• Once the bank account information is provided, you can immediately download the GST Certificate from Downloads.

Documents Required

• Partners’ Photographs
• PAN Cards
• Aadhaar Cards
• The Partnership Firm’s PAN Card
• Proof of the Company’s Constitution, Partnership deed
• Proof of Principal Place of Business (Anyone – Electricity Bill/Rent or Lease Agreement/Latest Bank Statement – Not older than two months)
• Letter of Authorization in the Name of Any Partner
• Once you submit the application, an Application Reference Number will assign to track its progress.

Also, you can contact an expert to help you out with the GST registration of partnership firm. They can also help you with company registration and various legal services of a business.