GST
REGISTRATION
Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer.
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Normal GST Slab rates as notified by GST Council.
Rates- 0% , 5%, 12% 18% 28%
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Composition Scheme- *CBIC has notified the increase to the threshold limit from Rs 1.0 Crore to Rs. 1.5 Crores.
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Manufacturer- 1% (CGST+SGST);
Trader-1% (CGST+SGST);
Restaurant- 5% (CGST+SGST)
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OVERVIEW
Applicability
Entities having Annual Aggregate Turnover > 40 Lakh
Special Category States Annual Aggregate Turnover >20L
(Special Category States includes)-Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttarakhand
Mandatory Registration
1. Entities involved in Interstate supply of goods must register for GST irrespective of turnover criteria.
2. E-commerce seller i.e entities involved in supply of goods through e-commerce operator must register under GSt irrespective of turnover.
3. Required to pay tax under Reverse Charge Mechanism
4. Input Service Distributor
5. Required to deduct tax at source
6. Business verticals in another state
7. Every Agents must Register himself under GST
Course of Action
Every entity should register under itself within 30 days of being liable to register i.e meeting the criteria of being applicable for registration.
If the entity does so the date of Registration will be same date as on which GST becomes applicable on it.
Thereby it can claim ITC (Input Tax Credit) for the closing inventory of prior registration inventory.
Process Time
It hardly takes 5-7 working days to complete the overall process with Compliance Proxy.
DOCUMENTS REQUIRED
PROCEDURE AT A GLANCE
PAN of the Business/ Applicant -Mandatory
Identity Proof-Passport, Aadhar, Voter Id, Driving License ( promoters)
Address Proof of Business- Sale Deed if owned, Property Tax Receipt/ Electricity Bill + N.O.C if rented along with rent agreement.
Bank Statement
(Account No with few transactions)
In case of Company- Certificate of Incorporation, Partnership firm- Partnership Deed. Any other registered entity- Certificate of Registration.
APPLY NOW!
1.
We will collect all the required info and documents as will be required for your GST Registration.
2.
Our professionals will prepare Application covering all aspects of your business activity.
3.
You will approve the form and details and then we will submit it and provide you the ARN Number immediately.
4.
The Application will be delivered for submission to the concerned departments.
5.
If the Application and supporting documents once gets verified by the Assessing Officer then GSTIN (GST Identification Number )and GST Certificate will be issued.