We serve GST registration in Patna Bihar Ranchi Jharkhand India. GST means Goods and Service Tax. GST is biggest Indirect Tax Regime in India since independence.
GST Registration Services
Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer.
Launched on April 1, 2017, the Goods & Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers, once their supply turnover crosses Rs. 20 lakh. The GST is an all-in-one tax that subsumes a variety of state (VAT, Entertainment Tax, Luxury Tax, and Octroi) and central taxes (CST, Service Tax, Excise Duty). GST is to be charged at every step of the supply chain, with complete set-off benefits available. The procedure for GST is completely online and requires no manual intervention. There will also be a composition scheme under GST for businesses with a supply turnover of less than Rs. 1.5 crore.
Goods and services are divided into five tax slabs for collection of tax – 0%, 5%, 12%, 18% and 28%. However, Petroleum products, alcoholic drinks, electricity, and real estate are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax regime. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate for most goods was about 26.5%, Post-GST; most goods are expected to be in the 18% tax range.
The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of centre and all the states. GST is meant to replace a slew of indirect taxes with a unified tax and is therefore expected to reshape the country’s 2.4 trillion dollar economy, but not without criticism. Trucks’ travel time in interstate movement dropped by 20%, because of no interstate check posts
GST is a consolidated tax this means that both central and state taxes have been merged together. A feature of the GST is that the whole country will have one uniform tax rate. Earlier, this was not the case.
Eligibility for GST Registration
*The following taxable group are eligible for GST Registration:
- Persons who are required to pay tax under Reverse Charge.
- Persons who are required to deduct tax at source.
- Non-resident Taxable person (No fixed place in India).
- Casual Taxable person (No fixed place where GST is applicable).
- All E-commerce Operators (e.g. Flipkart, Amazon).
- All Agents of a supplier.
- Persons who supply goods or services through E-commerce Operator.
- Input Service Distributor.
- An aggregator who supplies services under his brand name.
- Any Specialized Agency of the UN or any Multilateral Financial Institution.
- Persons making any Inter-State taxable supply.
Documents Required for Online GST Registration
The list of documents required for registration of GST for various businesses are as follows:
- PAN Card
- Address proof of proprietor
- PAN Card of LLP
- LLP Agreement Partners’ names
- Address proof
PRIVATE LIMITED COMPANY
- Certificate of Incorporation
- PAN Card of Company
- Articles of Association, AOA
- Memorandum of Association, MOA
- Resolution signed by board members
- Identity and address proof of directors
Proof of address of a director:-
- Voter Identity Card
- Aadhar Card
- Ration Card
- Telephone or Electricity Bill
- Driving License
- Bank Account Statement
If you want to get GST Registration for your Business, call or whatsapp us at +91-85400-99000