Patnaconsultant provides GST Registration in Banka, GST reward filing services, GST audit services, GST annual submission services. GST is type of indirect tax, which is mandatory for everything business entities. All selling or serve providing entities in India have to gain registration in GST. We will come occurring with the grant for you whatever important opinion in this article in brief.
GST Registration in Banka
GST registration means, registration of a concern entity as per provisions of Gst Act,2017. Gst Act,2017 has prescribed that whatever business entity like, private limited companies, partnership firms, individuals, proprietorship firmsetc which is imitate in selling, manufacturing, service providing, trading of goods etc processes they will have to gain 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 working in inter come clean transfer, they will have to get registration under GST.
Launched upon July 1 2017, the Goods & Services Tax (GST) applies to anything Indian serve providers (including freelancers), traders and manufacturers. A variety of Central taxes taking into account Service Tax, Excise Duty, CST and declare taxes behind Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST, implemented on 01.07.2017. GST is to be charged at all step of the supply chain, with full set-off benefits available. The procedure for GST is categorically online and requires no manual intervention.
Every product goes through multipart stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the perfect sale to the consumer. Interestingly, GST will be levied on whatever of these 3 stages. Let’s tell if a product is produced in West Bengal but is physical consumed in Uttar Pradesh, the entire revenue will ensue Uttar Pradesh.
Also, taxpayers with 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 conclusive 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 normal taxable person. This process of registration is called GST registration.
For certain businesses, registration under GST is mandatory. If the dispensation carries upon business without registering below GST, it will be an offence under GST and stifling penalties will apply.
GST registration usually takes together with 2-6 keen days. We’ll help you to register for GST in 3 simple steps.
*CBIC has notified the lump 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 Banka:
- Trade later one nation one tax rules.
- Goods & Services under one crown.
- Sale and Purchase considering invoice /Bill in which tax is shown.
- Use input tax credit on sales.
- Avoid Tax evasion
Process of GST Registration:
- Documents preparation
- Filing upon GST portal
- ARN issue
- GSTIN number/Certificate issued by department
Can you get online GST Registration in Banka?
GST is sufficiently based on online process. Government of India has made GST registration to be finished online. So it is good for you & your business. No need to visit our office to gain you GST registration. You can send us your all Documents similar to sign through mails or other online sources next whats app. We will accomplish 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 below the previous tax accomplish like utility tax or VAT or cst etc then they have required the New GST Registration.
#2 Turnover basis – if your issue sales or turnover cross beyond 40 lakh rupees in a year then its required the GST Registration. For some acknowledge like North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand the limit is by yourself 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 permanent place of issue then they can apply for the casual taxpayer below the GST Registration. It’s true 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 support distributor then it’s required to apply for the GST Registration to carry dispatch the pro of an input tax credit below GST Law.
#6 Reverse Charge Mechanism – Under GST Law there is term reverse charge mechanism so if you fall under that category next its required the GST registration.
#7 E-commerce Sellers – if you are an E-commerce Sellers of the leading aggregator portal later Flipkart or Amazon next yes you compulsion the GST Registration.
#8 E-Commerce Aggregator Portal – if you are thinking to start your own E-commerce event then for ECommerce Business Registration you habit GST Registration for the same.
#9 Outside India Online Portal – if you are software as a relief company and providing information & database permission from uncovered India to Indian visitors next it’s required to register under the GST.
Some important facts virtually GST registration:-
- Registration of any event entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the want of collecting tax on behalf of the giving out and to avail Input Tax Credit (ITC) for the taxes paid upon his inward supplies.
- Without registration, a person can neither collect tax from his customers nor claim any explanation of tax paid by him.
- Entities like turnover exceeds of Rs.40 lakhs (supply of goods in normal state), Rs.20 lakhs (supply of goods/services in normal 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 below GST.
- The eligible entities must file GST application within 30 days from the date on which the entity became liable for registration below GST law.
- Note Specific confess 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 release to call or Whatsapp at +91-8540099000 or Fall us an email at info@meerad.in