GST Registration Online – An Overview
Goods and Services Tax (GST) is essentially an Indirect tax which has been implemented to replace numerous taxes in India. GST was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India. For GST Registration Online Visit.
From July 1 2017, the Goods & Services Tax (GST) applies to all Indian service providers, traders and manufacturers. The GST is an all-in-one tax that subsumes a variety of state (VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (CST, Service Tax, Excise Duty). GST is to be charged at every step of the supply chain, with full set-off benefits available.
The procedure for GST is entirely online and requires no manual intervention. As per the changes in the 32nd council meeting, the threshold limit for GST registration is Rs. 40 lakhs for the supplier of goods and Rs. 20 lakhs for the supplier of services. Along with that, the North-Eastern States have an option to choose between Rs. 20 lakhs and Rs. 40 lakhs. Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number). There are various advantages of GST registration. You can also avail input tax credit and collect GST from recipients of goods and services.
Every product goes through multiple stages of the supply chain, which includes the purchasing of raw materials, manufacturing, and sales to the wholesaler, retailer and then the final sale to the consumer. GST will be levied on each of these stages (including value addition) and at the point of consumption, rather than the origin of the product.
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Now our experts will take care of yours registration. Our experts are available to explain the whole process and clear any queries you may have.
Although the GST portal has a user-friendly interface, the GST Forms have a lot of complex fields. Therefore, it is highly recommended to get the help of a professional experts for submitting the application, the required procedures, filing your returns and completing other formalities on the portal.