In India previously there were many Indirect Taxes. These Indirect Taxes were replaced by a single tax named as GST i.e. Goods and Services Tax. The Parliament had passed the Goods And Service Tax Act on 29th March, 2017 which came into effect on 1st July, 2017.
It is a comprehensive, multi-stage and destination-based tax which is levied on every value addition in the goods and services.The reason for being comprehensive is because it has included almost all the indirect taxes except in a few state taxes.
Being a multi-stage as it is imposed on every value addition in the production process. And for being a destination-based because it is collected from the point of consumption and not from the point of origin.
Now, GST is one indirect tax for our country.
Goods and Services Tax has five different tax slab rates. These were 0%, 5%, 12%, 18% and 28%.
Electricity, petroleum products and alcoholic drinks were not taxed under GST.
As these were separately taxed by the individual state governments.
There are two special rates of GST as well viz. 0.25% and 3%.
There are three components of GST.
CGST- Central Goods and Service Tax
It is collected by the Central Government on inter-state sale.
SGST- State Goods and Service Tax
It is collected by the State Government on intra-state sale.
IGST- Integrated Goods and Service Tax
Revenue collected by the Central and State both the Government is divided among themselves.
GST is one of the biggest tax reforms in India. It has eradicated various indirect taxes. Now in whole country there is one type of indirect tax i.e. GST
GST Registration is necessary if an entity want to do inter-state sale i.e. sale outside the state.
Another reason is to get input tax credit on the purchase paid by entity. If one entity is not registered under GST than it can not avail the input of the tax paid on purchase.
We at Taxavatar helps all the entities to get GST Registration. Taxavatar provides GST registration facility in every part of India. GST certificate comes between 2-5 workings days once you have filled the form below and submitted all the required documents with us.
Who All Require To Get GST Registration?
Any business entity having turnover more than threshold limit is required to get GST registration mandatory.
Any Business entity indulge in inter-state sale i.e. sale outside the state.
Any entity having branches in different states.
Any entity required to pay tax under reverse charge.
Sellers of goods and service on e-commerce sites (amazon, flipkart, jabong etc)
Required to deducts TDS.
Benefits Of GST Registration.
The major befit of GST registration is that the business entity get input tax credit on the purchase made by him.
In case of export one can claim the refund of the amount paid by the entity on the purchase made by the entity.
Business entity is legally authorized to collect tax from the customer on the sale done by him.
GST Registration Procedure
Once you have filled the form below or mailed us all the documents required for GST registration. Our tax professional will go to govt portal
Fill up the Part A of GST Registration form which will validate your PAN details, mobile no. and email id.
After this you will receive a TRN No on the given mobile no and email id.
This TRN is used to login again on the GST Portal and fill up the Part B of GST registration. All the required documents will be attached with this form.
Once the form is completely filled our tax professional will submit the form. In case of individual(proprietorship) this form can be submitted with the help of OTP(EVC) which will be received on the registered mobile and email. In any other case like company, partnership, LLP, trust digital signature of authorized signatory is needed for submitting the form.
Once the form is submitted successfully, you will receive one acknowledgement reference number (ARN). This ARN can be used to check the status of the application of registration on GST portal.
Within 3-5 working days of submitting the application your GST Registration will get approved by the dept which will be notified by a message on your registered mobile and email id.
Documents Required For GST Registration
The various documents required for GST Registration are:
PAN Card of owner/directors/partners
Aadhar-card/Voter card of owner/directors/partners
Photograph of owner/directors/partners
MOA/ AOA OR Partnership deed.
Electricity bill/ water bill or utility bill of the business place.
NOC / Rent agreement / Consent letter.
GST Registration Number.
GST Registration number is a 15 digits alphanumeric number in which first 2 digits denotes the state code and the next 10 digits is the pan no. of the client, 1 digit represent the entity code (like proprietorship, partnership, company etc.), 1 digit is blank and the last one digit is the check digit.
