Apply at photonjournal@yahoo.com for Online GST Registration. It costs INR 50, 000
The Government has issued a detailed schedule for the smooth migration of existing tax payers into Goods and Services Tax (“GST”), who are presently registered under existing laws i.e. State Sales Tax/VAT, Central Excise, Service Tax etc. All the existing taxpayers are required to enroll themselves under GST, the enrolment under GST includes the validation of data of existing taxpayers and filling up the remaining key fields.
Goods and Services Tax (GST)-
The Government has issued a detailed schedule for the smooth migration of existing tax payers into Goods and Services Tax (“GST”), who are presently registered under existing laws i.e. State Sales Tax/VAT, Central Excise, Service Tax etc. All the existing taxpayers are required to enroll themselves under GST, the enrolment under GST includes the validation of data of existing taxpayers and filling up the remaining key fields.
Goods and Services Tax (GST)-
GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. GST Law has replaced many indirect tax laws that previously existed in India. Goods and Services Tax (GST) is an indirect tax reform which aims to remove tax barriers between states and create a single market. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.
As per the draft rules of registration, which were put on public domain on September 26, 2016, the following provisions are provided for migration of existing taxpayers into GST
The following information and documents should be readily available before enrolling with the GST System Portal:
Information
Documents
GST rates
The GST Council, headed by Jaitley and of which all states Finance Ministers are members, has approved four main tax slabs -- 5 per cent, 12 per cent, 18 per cent and 28 per cent that aims to lower tax incidence on essential items and to keep the highest rate for luxury and demerits goods. The lowest rate of 5 per cent will be on items of mass consumption which are used particularly by common people. The second and third category of standard rates of 12 and 18 per cent will accommodate most of the goods and services. The fourth slab of 28 per cent is levied mainly on white goods such as refrigerators, washing machines etc.
The GST Council, headed by Jaitley and of which all states Finance Ministers are members, has approved four main tax slabs -- 5 per cent, 12 per cent, 18 per cent and 28 per cent that aims to lower tax incidence on essential items and to keep the highest rate for luxury and demerits goods. The lowest rate of 5 per cent will be on items of mass consumption which are used particularly by common people. The second and third category of standard rates of 12 and 18 per cent will accommodate most of the goods and services. The fourth slab of 28 per cent is levied mainly on white goods such as refrigerators, washing machines etc.
Documents required for GST registration:
- PAN card of the Company
- Proof of constitution like partnership deed, Memorandum of Association (MOA) /Articles of Association (AOA), certificate of incorporation.
- Details and proof of place of business like rent agreement or electricity bill
- Cancelled cheque of your bank account showing name of account holder, MICR code, IFSC code and bank branch details
- Authorized signatory like List of partners with their identity and address proof in case of partnership firm or List of directors with their identity and address proof in case of company.
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the North Eastern States).
A person without GST registration can neither collect GST from his customers nor claim any input tax credit of GST paid by him.
- PAN card of the Company
- Proof of constitution like partnership deed, Memorandum of Association (MOA) /Articles of Association (AOA), certificate of incorporation.
- Details and proof of place of business like rent agreement or electricity bill
- Cancelled cheque of your bank account showing name of account holder, MICR code, IFSC code and bank branch details
- Authorized signatory like List of partners with their identity and address proof in case of partnership firm or List of directors with their identity and address proof in case of company.
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the North Eastern States).
A person without GST registration can neither collect GST from his customers nor claim any input tax credit of GST paid by him.
For any query please contact at photonjournal@yahoo.com
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