GST Consultants - Gurgaon NCR
What is Goods and Service Tax?
GST Termed as goods and service tax. This tax comes in the Indirect tax that has superseded many Indirect Taxes in India. We can also say that one tax for the entire country. On 29th March 2017, this act was passed in the parliament which came into effect on 1st July 2017. This tax is imposed at every stage from manufacture up to final consumption. In a nutshell, only value addition will be taxed and the burden of tax is to be ensured by the final consumer. Therefore, the tax is imposed at every point of sale. In the two types of sales i.e. intra-state sales and Inter-state sales different charges are imposed like Central GST and State GST are charged in case of intra-state sales. While in the case of Inter-state, Integrated GST are chargeable. On the basis of your business type, service, and nature of Goods your business is trading the rates in GST vary from 0% to 28%.
What are the required documents for GST Registration?
• User PAN Details
• User with updated Aadhaar card
• Bank Account statement/Cancelled cheque
• Authorized Digital Signature of the user
• Letter of Authorization/Board Resolution for Authorized Signatory
• Business registration proof
• Incorporation certificate
• Identity and Address evidence of Promoters/Director with Photographs
• Proof of the business address for a registered place
What is the procedure for GST Registration?
GST (Goods and Services Tax) is basically an Indirect tax which has been executed to replace diverse taxes in India. With the immediate effects, certain changes were done in several meetings. An act was passed in the parliament on 2017, 29th March for the process of online GST registration, which was started implemented from 2017, 1st July in India. They set the limits like for the supplier of goods the outset limit for GST registration is 40 Lakhs and for the supplier of services, it is 20 Lakhs. While in the case of the North-Eastern States, the window is 20 lakhs and 40 lakhs. However, it is easy to fill the form on the GST online portal. Still, it requires GST experts or GST Counselors for the filling of forms. Therefore, to make the process simple and quick for the first time you need to take help from the experts.
What are the advantages of GST Registration?
• With your GST Registration, you can easily make your business 100% tax Compliant
• GST number can be used as a payment gateway to make the payments easy.
• It provides you a platform to expand your business through various channels like Online, Import-Exports
• If you have your own business GSTN number you can apply for various states and Central Government tenders
• It also makes easier for you if you want to open a current account or Business Account
• It helps you in improving your profits so you can claim Input Tax Credit which you have paid on your purchases
• Tax Benefits can be easily passed to suppliers also; you can lawfully collect taxes from your customers