The introduction of the Goods and Services Tax (GST) was a major tax reform in India. It's been so long since its inception that questions like "What is GST registration" just don't sound right. So here is a brief introduction
- GST is the only tax you need to register your business.
- If your business is not GST registered, you can face severe fines and penalties.
- Registering for TPS allows you to collect GST from your customers.
- So avoid illegal business, save your business for GST.
GST (Goods and Services Tax) registration in India is a process by which businesses that are involved in the supply of goods or services register themselves under the GST Act. Filing Your GST return. GST is a unified indirect tax that was introduced in India in 2017, to replace multiple indirect taxes like VAT, service tax, and excise duty. Register yourself under GST in India with us.
What is GSTIN?
The GSTIN is a unique identification number assigned to a GST payer. Each taxpayer can be easily identified using the GSTIN. A GSTIN can be obtained by re-applying for GST registration/GST registration online. It is listed in the GST certificate.
Types of GST
Central Goods and Services Tax
Central Goods and Services Tax or (CGST) subsumed all the taxes levied by the central government. For example central excise duty, central surcharges and cess and other such central indirect taxes that were earlier applicable.
State Goods and Services Tax
As part of GST, SGST is a type of tax levied by the state government on domestic supplies of goods and services and governed by the SGST Act. Suppose Ayan is a seller from Gurgaon who sold Rs. worth of goods to Mahesh in Bangalore. 20,000
Integrated Goods and Services Tax
This does not mean that IGST is more expensive. Let's take cashews as an example. Intrastate: If transferred within the same state, 2.5% CGST will go to the central government and 2.5% SGST will go to the central government.
Union Territory Goods and Services Tax
UTGST is similar to SGST and is collected in union areas that do not have their own legislation. UTGST applies to deliveries within the Union Territories of Jammu & Kashmir, Ladakh, Andaman and Nicobar Islands, Chandigarh, Dadra & Nagar Haveli and Daman & Diu and Lakshadweep
Benefits of GST Registration?
- Reduce the Burden of Tax
- receive a tax deduction
- E-commerce business
- Simple and contradictory
- Strengthen Economy
Required Documents for GST Registration
- PAN of the Applicant
- Aadhaar card
- Address proof
- Bank Account statement/Cancelled cheque
- Business description
- Photograph of the Applicant
- Pan Card of the partnership
- Aadhaar card of all the Partners
- Bank Account Details
- Address proof
- Partnership Deed/ LLP Certificate
- Pan card of the Company
- Aadhaar card of all the Directors
- Proof of business registration or Incorporation certificate
- Bank Account Details
- Address proof of the location of the business/ company
- MOA, AOA
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
- ID and Address proof of Promoters/Director with Photographs
How can Tax Esquire help you?
If you're a business owner in need of GST registration, you're in the right place. We offer professional GST registration services, conveniently located near you. Our expert GST consultants are available to provide guidance and assistance throughout the registration process. Whether you need GST registration for your company or specifically for your private limited company, we have you covered. Our services extend to online GST registration, ensuring a hassle-free experience. We also cater to partnership companies seeking GST registration. Understanding the nuances of goods and services tax, we ensure compliance with the relevant regulations. By availing yourself of our GST registration services, you can streamline your business operations and enjoy the benefits of a robust tax system. Don't hesitate to reach out to us for comprehensive GST registration assistance and let us help you navigate the complexities of the goods and services tax.