Patnaconsultant provides GST Registration in Chatra, GST recompense filing services, GST audit services, GST annual acceptance services. GST is type of indirect tax, which is mandatory for anything business entities. All selling or promote providing entities in India have to gain registration in GST. We will find the keep for you all important instruction in this article in brief.
GST Registration in Chatra
GST registration means, registration of a situation entity as per provisions of Gst Act,2017. Gst Act,2017 has prescribed that anything business entity like, private limited companies, partnership firms, individuals, proprietorship firmsetc which is upset in selling, manufacturing, service providing, trading of goods etc processes they will have to get registration in Gst. When a entity exceeds the limit of 40 lakhs (in some states it is 10 lakhs) turnover in a year or if they energetic in inter give leave to enter transfer, they will have to get registration under GST.
Launched on July 1 2017, the Goods & Services Tax (GST) applies to whatever Indian help providers (including freelancers), traders and manufacturers. A variety of Central taxes subsequently Service Tax, Excise Duty, CST and divulge taxes later Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST, implemented upon 01.07.2017. GST is to be charged at every step of the supply chain, with full set-off further available. The procedure for GST is utterly online and requires no manual intervention.
Every product goes through multiple stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and subsequently the resolved sale to the consumer. Interestingly, GST will be levied on anything of these 3 stages. Let’s say if a product is produced in West Bengal but is mammal consumed in Uttar Pradesh, the entire revenue will accumulate Uttar Pradesh.
Also, taxpayers next a turnover of less than Rs.1.5 crore can choose composition scheme to gain rid of tedious GST formalities and pay GST at a truth rate of turnover.
In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a usual taxable person. This process of registration is called GST registration.
For Definite businesses, registration under GST is mandatory. If the paperwork carries upon business without registering below GST, it will be an offence under GST and close penalties will apply.
GST registration usually takes in the company of 2-6 in force days. We’ll back up you to register for GST in 3 easy steps.
*CBIC has notified the growth in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.
Advantage of GST Registration in Chatra:
- Trade bearing in mind one nation one tax rules.
- Goods & Services under one crown.
- Sale and Purchase later than invoice /Bill in which tax is shown.
- Use input tax credit on sales.
- Avoid Tax evasion
Process of GST Registration:
- Documents preparation
- Filing on GST portal
- ARN issue
- GSTIN number/Certificate issued by department
Can you get online GST Registration in Chatra?
GST is adequately based upon online process. Government of India has made GST registration to be done online. So it is great for you & your business. No compulsion to visit our office to gain you GST registration. You can send us your everything Documents when sign through mails or other online sources as soon as whats app. We will pull off your work; you can pay our fees by online transaction.
Who is required to Get New GST Registration?
#1 Previous Law Converted Taxpayer – if any individual or companies are registered under the previous tax con like give support to tax or VAT or cst etc then they have required the New GST Registration.
#2 Turnover basis – if your situation sales or turnover cross higher than 40 lakh rupees in a year next its required the GST Registration. For some confess like North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand the limit is unaccompanied 10 lakh rupees in a year.
#3 Event or Exhibition – In the GST Act its called the casual taxpayer. If they don’t have any remaining place of issue then they can apply for the casual taxpayer below the GST Registration. It’s valid for a maximum of 90 days (3 months).
#4 Non-Resident Indian (NRI) – if you are a non-resident person of India or handling the issue of NRI in India next it’s required to apply for the GST Registration Online.
#5 The agent of Suppliers or Input tax Distributor – if you are an input tax foster distributor next it’s required to apply for the GST Registration to carry forward the gain of an input tax credit under GST Law.
#6 Reverse Charge Mechanism – Under GST Law there is term reverse clash mechanism hence if you fall under that category then its required the GST registration.
#7 E-commerce Sellers – if you are an E-commerce Sellers of the leading aggregator portal next Flipkart or Amazon subsequently yes you dependence the GST Registration.
#8 E-Commerce Aggregator Portal – if you are thinking to Begin your own E-commerce business then for ECommerce Business Registration you need GST Registration for the same.
#9 Outside India Online Portal – if you are software as a give support to company and providing information & database permission from uncovered India to Indian visitors next it’s required to register below the GST.
Some important facts about GST registration:-
- Registration of any situation entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the set sights on of collecting tax on behalf of the executive and to avail Input Tax Credit (ITC) for the taxes paid on his inward supplies.
- Without registration, a person can neither collective tax from his customers nor allegation any bill of tax paid by him.
- Entities later turnover exceeds of Rs.40 lakhs (supply of goods in normal state), Rs.20 lakhs (supply of goods/services in usual state), Rs.20 lakhs (supply of goods in specific state) or Rs. 10 Lakhs (Supply of goods/services specific state) and above would be required to register under GST.
- The eligible entities must file GST application within 30 days from the date on which the entity became held responsible for registration under GST law.
- Note Specific let in for GST registration is, (Puducherry, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh, and Uttarakhand.)
For Company Registration, NGO registration, ISO certification, FSSAI license, GST registration, Trademark Registration, Website Development or registration of your businesses, please feel liberty to call or Whatsapp at +91-8540099000 or drop us an email at info@meerad.in