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GST (GOODS AND SERVICE TAX)
GST means goods and service tax. Government bring GST for the reason that after coming the GST Regulation it will be easy for general public to submit and deposit their tax by themselves and he will not need to hire chartered accountant or a company secretary for filing his GST Return. According to the government GST is paid by Manufacturer, Trader and service Provider. There is a big confusion in the mind of public because there were lots of taxes which are imposed on public and after coming of GST lots of Taxes are merged into single GST. Now there is no existence of VAT (value added Tax), CST (central sales tax), Entry Tax, Local Body Taxes, Luxury Tax etc. Earlier before GST came into existence one of the biggest demerit that we had to pay multiple tax on same goods now it has removed.
Importance of GST registration in today’s Business
A registered person can have some more advantages under GST then a person who is not registered under GST as a registered person can avail the benefit of tax given by him but the unregistered person cannot avail such benefits. Earlier there was various types of services in which credit were not given but today after coming of GST credit is given in each and every item and stages as purchase of Raw material to sale of finished Goods. But for unregistered dealer this facility is not given.
Person to whom the GST Registration is Required?
Every supplier liable to be registered if aggregate turnover in financial year exceeds 20 lakh/10 lakh for special category states, but for some business registration under GST is mandatory. After getting registration under GST the registered person will be allotted a 15 digit GSTIN Number (Goods & Service Taxpayer Identification Number). Among these first 2 digit represent State name of India and next 10 digits is alphanumeric numbers of PAN number of person or firm engaged in Business.
Advantages of taking voluntary Registration Under GST
A registered supplier Under GST can avail certain advantages which is not generally given to Unregistered suppliers such as – Availing input tax credit, Taxable invoices can only be issued by the business that are legally recognised under GST so that buyer can avail input tax credit when they purchase from such business so most buyers want to purchase Goods from those supplier who are registered under GST. A registered supplier can avail input tax credit on purchase of inputs and can also give credit to the person who buys Goods from him. And a Registered person can also make interstate sale without any restriction.
Consequences of not registering under GST
All suppliers of Goods & Services should register himself under GST either on voluntary or mandatory basis, because consequences of non registration may be cause to various losses and penalties such as- (a) penalty of Rs. 10000 (b) Not eligible for input tax credit. (c) Not eligible for issue of tax invoice (d) Non eligible for Transfer of Input Tax Credit. (e) Detention of Goods & Conveyance and Confiscation of Goods. So we advise you to register yourself under GST within 30 days from the day you will liable to be registered or you can also register on voluntary basis, after taking registration you will be treated as normal taxpayer and can avail all benefits given under GST regime.
OTHER ASPECTS OF GST
GST provides a win-win situation for trading and helps to increasing wealth of entire country. It brings benefits for all in the industry, consumer and the government. It also helps to reduce the cost of goods and services to give a boost to our country’s economy and make the products and services globally competitive. Many central and state taxes into a one tax and reduces the ill effect of tax on tax, in other word cascading effect of taxation.
DOCUMENTS REQUIRED FOR GST REGISTRATION (PROPRIETORSHIP OR INDIVIDUAL)
• ONE RECENT PHOTOGRAPH OF PROPRIETOR.
• COPY OF PAN CARD OF PROPRIETOR.
• COPY OF AADHAAR CARD OF PROPRIETOR.
• COPY OF CANCEL CHEQUE IN THE NAME OF PROPRIETOR.
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY SITUATED.
• RENT AGREEMENT (IF ANY).
• EMAIL AND CONTACT NUMBER.
• ONE PROPOSED NAME OF THE FIRM.
DOCUMENTS REQUIRED FOR GST REGISTRATION (PARTNERSHIP)/b>
• ONE RECENT PHOTOGRAPH OF ALL.
• COPY OF PAN CARD OF ALL PARTNERS.
• COPY OF AADHAAR CARD OF ALL PARTNERS.
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL PARTNERS.
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY SITUATED.
• RENT AGREEMENT (IF ANY)/NOC.
• EMAIL AND CONTACT NUMBER OF ALL.
• ONE PROPOSED NAME OF THE FIRM.
DOCUMENTS REQUIRED FOR GST REGISTRATION (PRIVATE LIMITED COMPANY / PUBLIC LIMITED COMPANY / LIMITED LIABILITY PATNERSHIP / ONE PERSON COMPANY)
• ONE RECENT PHOTOGRAPH OF ALL
• COPY OF PAN CARD OF ALL DIRECTORS
• COPY OF AADHAAR CARD OF ALL DIRECTORS
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL DIRECTORS
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY SITUATED
• RENT AGREEMENT (IF ANY)/NOC
• EMAIL AND CONTACT NUMBER OF ALL
• ONE PROPOSED NAME OF ALL DIRECTORS
DOCUMENTS REQUIRED FOR GST REGISTRATION (SOCIETY/NGO)
• ONE RECENT PHOTOGRAPH OF ALL
• COPY OF PAN CARD OF ALL MEMBERS
• COPY OF AADHAAR CARD OF ALL MEMBERS
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL MEMBERS
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY
• RENT AGREEMENT (IF ANY)/NOC
• EMAIL AND CONTACT NUMBER OF ALL
• ONE PROPOSED NAME OF ALL MEMBERS
TIME TAKEN FOR GST REGISTRATION
Normally it will take maximum 4-5 days in getting GST registration if it is not approved by the GST authority then it is automatically approved after one week. It will be considered as deemed allotment of GST registration.
PROCESS OF GETTING A GST REGISTRATION
STEP1: FIRSTLY WE WILL CREATE A LOGIN ID AND PASSWORD OVER THE GST PORTAL.
STEP2: FILL ALL THE NECESSARY PARTICULARS IN THE FORM.
STEP3: UPLOAD THE NECESSARY DOCUMENTS REQUIRED AS THE CASE MAY BE.
STEP4: SUBMIT THE APPLICATION WITH DIGITAL SIGNATURE OR EVC AS THE CASE MAY BE.
STEP5: WAIT FOR THE GOVERNMENT APPROVAL.
STEP6: ISSUE OF GST CERTIFICATE. THEN PRINT THE SAME.
APPLY ONLINE BY YOURSELF
ALTERNATIVE WAY FOR TAKING THE GST REGISTRATION IS BY SENDING ALL THE NECESSARY DOCUMENTS ON THE MAIL ID cacsgaruav01@gmail.com and YOU CAN CONTACT ON 9990363345 FOR FURTHER ASSISTANCE. need to apply to the Director General of Foreign Trade (DGFT) Department.
Company Registration Our offices are in Delhi, Noida, Ghaziabad and we provide services all over India.
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