Saturday, 12 August 2017

What is GST (Goods and Service Tax) ?


                                             
Apply at photonjournal@yahoo.com for Online GST Registration. It costs INR 50, 000

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. 

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.


For any query please contact at photonjournal@yahoo.com


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