Patnaconsultant provides GST Registration in Bihar, GST compensation filing services, GST audit services, GST annual compliance services. GST is type of indirect tax, which is mandatory for whatever business entities. All selling or utility providing entities in India have to get registration in GST. We will provide you whatever important information in this article in brief.
GST Registration in Bihar
GST registration means, registration of a business entity as per provisions of Gst Act,2017. Gst Act,2017 has prescribed that everything business entity like, private limited companies, partnership firms, individuals, proprietorship firmsetc which is concern 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 functional in inter come clean transfer, they will have to gain registration under GST.
Launched on July 1 2017, the Goods & Services Tax (GST) applies to everything Indian relieve providers (including freelancers), traders and manufacturers. A variety of Central taxes following Service Tax, Excise Duty, CST and disclose taxes with Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST, implemented on 01.07.2017. GST is to be charged at every step of the supply chain, with full set-off foster available. The procedure for GST is unquestionably online and requires no manual intervention.
Every product goes through complex stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and later the fixed sale to the consumer. Interestingly, GST will be levied on all of these 3 stages. Let’s say if a product is produced in West Bengal but is monster consumed in Uttar Pradesh, the entire revenue will accumulate Uttar Pradesh.
Also, taxpayers in imitation of a turnover of less than Rs.1.5 crore can choose composition scheme to get rid of tedious GST formalities and pay GST at a unquestionable 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 distinct businesses, registration under GST is mandatory. If the government carries upon business without registering below GST, it will be an offence below GST and stuffy penalties will apply.
GST registration usually takes between 2-6 working days. We’ll urge on you to register for GST in 3 easy steps.
*CBIC has notified the bump 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 Bihar:
- Trade behind one nation one tax rules.
- Goods & Services below one crown.
- Sale and Purchase taking into account invoice /Bill in which tax is shown.
- Use input tax credit upon sales.
- Avoid Tax evasion
Process of GST Registration:
- Documents preparation
- Filing upon GST portal
- ARN issue
- GSTIN number/Certificate issued by department
Can you gain online GST Registration in Bihar?
GST is thoroughly based upon online process. Government of India has made GST registration to be curtains 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 all Documents gone sign through mails or further online sources with whats app. We will attain 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 proceed like bolster tax or VAT or cst etc then they have required the New GST Registration.
#2 Turnover basis – if your concern sales or turnover cross over 40 lakh rupees in a year then its required the GST Registration. For some state like North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand the limit is deserted 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 enduring place of issue then they can apply for the casual taxpayer under the GST Registration. It’s real 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 event of NRI in India later 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 relieve distributor after that it’s required to apply for the GST Registration to carry deal with the plus of an input tax credit under GST Law.
#6 Reverse Charge Mechanism – Under GST Law there is term reverse lawsuit mechanism for that reason 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 in the same way as Flipkart or Amazon after that yes you obsession the GST Registration.
#8 E-Commerce Aggregator Portal – if you are thinking to start your own E-commerce concern then for ECommerce Business Registration you habit GST Registration for the same.
#9 Outside India Online Portal – if you are software as a encouragement company and providing information & database access from outdoor India to Indian visitors then it’s required to register under the GST.
Some important facts approximately GST registration:-
- Registration of any concern entity below 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 meting out and to avail Input Tax Credit (ITC) for the taxes paid upon his inward supplies.
- Without registration, a person can neither combination tax from his customers nor affirmation any credit 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 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 upon which the entity became held responsible for registration below GST law.
- Note Specific acknowledge 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 forgiveness to call or Whatsapp at +91-8540099000 or drop us an email at info@meerad.in