Patnaconsultant provides GST Registration in Latehar, GST return filing services, GST audit services, GST annual assent services. GST is type of indirect tax, which is mandatory for everything business entities. All selling or support providing entities in India have to gain registration in GST. We will come going on with the keep for you all important opinion in this article in brief.
GST Registration in Latehar
GST registration means, registration of a thing 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 put on 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 functional in inter make a clean breast transfer, they will have to get registration below GST.
Launched upon July 1 2017, the Goods & Services Tax (GST) applies to everything Indian relieve providers (including freelancers), traders and manufacturers. A variety of Central taxes in imitation of Service Tax, Excise Duty, CST and come clean taxes in imitation of 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 help available. The procedure for GST is entirely online and requires no reference book intervention.
Every product goes through merged stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and later the solution 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 swine consumed in Uttar Pradesh, the entire revenue will add Uttar Pradesh.
Also, taxpayers in the same way as 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 unconditional 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 certain businesses, registration under GST is mandatory. If the dealing out carries on business without registering below GST, it will be an offence below GST and heavy penalties will apply.
GST registration usually takes between 2-6 practicing days. We’ll assist you to register for GST in 3 simple steps.
*CBIC has notified the increase 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 Latehar:
- Trade taking into consideration one nation one tax rules.
- Goods & Services below one crown.
- Sale and Purchase afterward 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 Latehar?
GST is adequately based on 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 get you GST registration. You can send us your all Documents bearing in mind sign through mails or supplementary online sources as soon as whats app. We will realize 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 undertaking like service tax or VAT or cst etc then they have required the New GST Registration.
#2 Turnover basis – if your business sales or turnover cross on zenith of 40 lakh rupees in a year subsequently its required the GST Registration. For some permit like North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand the limit is abandoned 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 unshakable place of business then they can apply for the casual taxpayer under 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 concern 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 serve distributor subsequently it’s required to apply for the GST Registration to carry tackle the help of an input tax credit under GST Law.
#6 Reverse Charge Mechanism – Under GST Law there is term reverse act mechanism correspondingly if you fall below that category then its required the GST registration.
#7 E-commerce Sellers – if you are an E-commerce Sellers of the leading aggregator portal subsequently Flipkart or Amazon then yes you infatuation the GST Registration.
#8 E-Commerce Aggregator Portal – if you are thinking to start your own E-commerce issue then for ECommerce Business Registration you compulsion GST Registration for the same.
#9 Outside India Online Portal – if you are software as a benefits company and providing information & database admission from uncovered India to Indian visitors after that it’s required to register below the GST.
Some important facts just about GST registration:-
- Registration of any thing entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the aspiration of collecting tax upon behalf of the management and to avail Input Tax Credit (ITC) for the taxes paid upon his inward supplies.
- Without registration, a person can neither total tax from his customers nor allegation any financial credit of tax paid by him.
- Entities like turnover exceeds of Rs.40 lakhs (supply of goods in usual 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 upon which the entity became responsible for registration below GST law.
- Note Specific state 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