Good & Service Tax (GST) is a single tax concept which shall be levied on supply of goods or services across India. GST will replace 17 types of indirect taxes like Service Tax, VAT, Excise, Custom etc. Those businesses which are registered under Service Tax, VAT , Excise etc. have to enroll & registered under GST Act.
Good & Service Tax (GST) introduce in Budget Speech of financial year 2006-07 and now its going to implement w.e.f. 01st July, 2017.
Every business carrying out supply of goods or services whose turnover exceed Rs. 20 Lakh ( 10 Lakh for North East States, Himachal, Uttrakhand , Jammu & Kashmir) are required to registered under GST Act. Unlike Service tax, there is no concept of Centralised Registration in GST.
A person with multiple business verticals in a state may obtain maximum 34 separate registration for each business vertical. Return shall be furnished separately for multiple business.
This scheme is exclusively for registered dealer whose aggregate turnover doesn’t exceed Rs. 75 Lakh in preceding financial year.
They can pay tax on Turnover at the rate of 2% for manufacturer, 5% for restaurant and 1% for trader.
They required maintaining much less records and filing quarterly return.
However, they have to issue “Bill of Supply” .They can’t charge tax from receiver of supply & also can’t claim input tax credit on purchases.
2. Bank Statement ( Latest two months)
1. Starting your enrolment on GST portal (www.gst.gov.in)
2. Filling of Part-A form on GST portal – Form-1 3. You will get an application reference code on your mobile and E-mail.
1. Form shall be filled and we will upload all the relevant documents on portal.
2. A certificate of registration is issued by department to you within 1 working days.
1. Once certificate of registration generated, all documents need to submit with the department.
2. After verification, A final Registration certificate will be provided by department.
* 1. PAN | 2. Bank Statement ( Latest two months) | 3. Digital Signature( if available) | 4. ID Proof (Aadhar/Voter ID/DL /Passport etc. | 5. Address proof (Telephone bill/ Electricity bill/ /Aadhar/Passport) | 6. Photograph of Directors/Partners/Proprieter | 7. Business premises proof (Electricity Bill/ House tax Bill/ Water Bill | 6. Rent agreement & NOC of Landlord if premises not owned ( Format provide by Business Neev)