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GST REGISTRATION SERVICE

Comprehensive Guide to Goods and Service Tax (GST) Registration in India

Introduction to Goods and Service Tax (GST):

Goods and Service tax (GST) is an indirect form of tax which replaced many Central and State taxes in India like VAT, Service tax, Excise duty, Entry tax, Octroi, etc and was the biggest tax reform in India in recent times. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

GST is multi-stage as goods generally go through many stages and change hands from Manufacturer to wholesaler to retailer to consumer. There is a value addition at each stage hence GST is levied at each stage.

GST is destination-based tax, which means as the tax is collected by the state where the goods/service is consumed. For e.g, An equipment is manufactured in Tamilnadu and consumed in Karnataka, GST is levied at the point of consumption so tax revenue goes to Karnataka.

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When would GST registration be required:

Goods and Service tax (GST) is required if your annual turnover is more than 20 lakhs. Irrespective of the turnover in the below cases GST has to be applied:

  • Interstate sellers/service providers
  • E-commerce operator/aggregator
  • Exporters of Goods/Service
  • Vendors on E-commerce portals
  • Casual Taxable person- Person who supplies but has no fixed place

 

What is CGST, SGST, and IGST?

CGST is a tax levied on Intra State supplies of goods and services by the Central Government and is governed by the CGST Act.

SGST is a tax levied on Intra State supplies of goods and services by the State Government and is governed by the SGST Act.

For e.g, The Startup Zone provides GST registration service to a business registered in Karnataka for Rs.2000, GST levied is 18% which is Rs.360 in which CGST is Rs.180 and SGST is Rs.180

IGST is a tax levied on all Inter-State supplies of goods and/or services and will be governed by the IGST Act. IGST will be also applicable on any supply of goods and/or services in case of import into India or export from India.

For e.g, The Startup Zone provides GST registration service to a business registered in Outside Karnataka for Rs.2000, GST levied is 18% which is Rs.360 in which IGST is Rs.360.

Benefits of Goods And Services Tax:

  • Creation of a unified common market as GST is one tax across the nation
  • Removal of the cascading effect which was prevailing in VAT and other taxes
  • Introduction of GST has regulated the unorganized sector
  • Composition scheme for SME/MSMEs
  • Seamless GST input credit on goods/services
  • Simpler tax regime
  • Higher threshold for registration
  • Easy tax filing and documentation
  • Increased efficiency in logistics

Documents required for GST Registration:

Document Proprietorship Partnership OPC LLP Pvt Ltd
PAN card of promoter/s
PAN card of the company/firm
Aadhar card of promoter/s
Photograph of promoter/s
Board resolution/Authorized signatory document
DSC of the Authorized signatory
Registered office documents such as Rental agreement/Sale deed/Latest tax paid receipt
Utility bill
Current account Bank statement/Cancelled cheque
Savings account Bank statement/Cancelled cheque

 

Timeline – How long does it take to register GST in India

If everything is in order, it may take anywhere between 4 to 5 business days for registering GST. This timeline is further subject to Government processing, approval time, public holidays, etc.

GST Registration Fees / Cost:

There are no Government fees for GST registration. Our professional fees for is Rs. 2,000/-. The Charges may change depending on the number of Partners/Directors.

Due Dates for All GST Returns

Return Form

Particulars

Frequency

Due Date

GSTR-1

Details of outward supplies of taxable goods and/or services

Monthly

10th of the subsequent month

GSTR-2

Details of inward supplies of taxable goods and/or services to claiming input tax credit. As of now not applicable.

Monthly

15th of the subsequent month

GSTR-3B

Monthly return containing the details of outward supplies and inward supplies along with the payment of GST amount

Monthly

20th of the subsequent month

GSTR-4

Return that taxpayers opting for Composition Scheme need to furnish

Quarterly

18th of the month succeeding quarter

GSTR-5

Return for Non-Resident foreign taxable person

Monthly

20th of the subsequent month

GSTR-6

Return for Input Service Distributor

Monthly

13th of the subsequent month

GSTR-7

Return for authorities deducting tax at source.

Monthly

10th of the subsequent month

GSTR-8

Details of supplies through the e-commerce operator and the amount of tax collected

Monthly

10th of the subsequent month

GSTR-9

Annual Return

Annually

31st December of next financial year*

GSTR-9A

Annual Return

Monthly

31st December of next financial year*

GSTR-10

Final Return

Once, when registration is canceled/surrendered

Within three months of the date of cancellation or date of cancellation order, whichever is later.

GSTR-11

Details of inward supplies to be furnished by a person having UIN and claiming a refund

Monthly

28th of the month following the month for which statement is filed

* Subject to change by Notifications/ Orders