GST Verification Pending Cases:-
In the October budget, the Indian government announced that businesses with a turnover of less than Rs 20 lakh need not register for GST.
However, businesses which fall in this segment but have been selling their products need to verify whether they qualify to be exempted from GST or not.
If your business falls under the criteria and you have completed your registration and assigned a registered entity code to your business, you will be able to get verified as a Small Business Operator (SBO) and complete the verification process. You also need to have Idea on GST e way bill Online.
If not, you can apply for an extension of time. However, if you do not register by December 31, 2017 and meet the criteria mentioned above, you will be prompted to fill out a self-declaration form as an unregistered small business operator. Here’s what you should know about the same:
What is GST Online verification?
GST verification is the process of GST registration, wherein the details and financial transaction of the business are verified by the GST authorities to ensure that the business is real and operating from a genuine address. If the GST verification process is successful, the GST Online Verification details and the GSTIN will be generated by the GST authorities.
How to know if your GST verification is pending?
You can check if your GST verification is pending or not from your GST portal. Check for the GST Payment if it is done properly or not.
The pending status of GST verification means that your business has failed to submit the necessary documents to the GST authorities due to which the verification of your GST details has been delayed.
Here’s how to check the status of your GST verification:
- Log in to your GST portal. Go to ‘Profile’ and click on ‘Verification Status’.
- If your GST verification is pending, a message will be displayed below the registration details.
- In the message, you will get to know the reason(s) behind the unverified GST registration.
Why Is Your GST Verification Pending?
The GST verification process can be complex and can include a lot of documentation. Some of the common reasons for the unverified GST registration are:
- Lack of or incorrect details of the business – The GST authorities expect business owners to provide accurate details about their business, such as the name and address of their business and the nature of business. If you fail to do so, your GST verification will be pending until the authorities are satisfied with your response.
- Incorrect GST details – The GST authorities may find that the GST details you’ve provided are incorrect and will prompt you to correct them. If you fail to do so, your GST verification will be pending until the GST authorities are satisfied with your response.
- Lack of or incorrect GST payment details – Business owners are expected to provide details of the GST paid by them. If you fail to do so, your GST verification will be pending until the GST authorities are satisfied with your response.
- Lack of or incorrect Bank Account Details – GST registration requires that you have a GSTIN-linked bank account with the bank. If you don’t have one, you can easily apply for a GSTIN-linked bank account. If you have one but the details provided are incorrect, the GST authorities will prompt you to correct them. If you fail to do so, your GST verification will be pending until the GST authorities are satisfied with your response.
- -Incorrect address proof – GST verification requires the submission of address proof. You will have to select the appropriate document (ID proof) to submit as address proof, depending on your business type. If you fail to do so, your GST verification will be pending until the GST authorities are satisfied with your response.
GST verification is mandatory for all businesses that are registered under GST and fall under the prescribed GST registration turnover criteria. You can verify your GST details through your GST portal.