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One nation, one tax, makes it a financial integration.
With GST, we expect to get consistency in taxes
Goods and Services will be taxed with both CGST and SGST. In case of interstate trade of goods and services, IGST will be levied. IGST will be collected by Central and distributed with the State and this will lead to a seamless national market with less compliance. Zero Rated Exports and free movement of goods and services will help the businesses especially retail and trade.
The procedures for refund of taxes and registration of taxpayers will be common, while the formats of tax return will be uniform. The tax base will also be common, as will the system of assortment of products or services in addition to the timelines for each activity, thereby ensuring that taxation systems have greater certainty.
An important benefit of the introduction of GST will be the removal of the cascading tax effect. In simple words, “cascading tax effect” means a tax on tax. Under the current regime, the service tax paid on input services cannot be set off against output VAT. Under GST, the input tax credit can be availed smoothly across the spectrum of goods and services, thus reducing the tax burden on the end user and removing cascading effect.
Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. Commonly this scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore
Since technology will be used heavily to drive the GST online process, taxpayers will have a common portal (GSTN). The GST registration online procedures for different processes like registration, tax etc.
Simple Solution for Complex Confusions.
We concern the matters relating to false guarantees and specifically addressed the same by providing the MONEY BACK GUARANTEE for the service in simply 7 working days. When an individual not absolutely pleased with the services for which he paid, he might standup the disappointment with a describing observation. We maintain with precaution and issue a refund or credit the charge card according to the internal refund policy.
Register now in GST to unveil the niche benefits
Access the GST portal and click on new registration option and enter the details as asked and carefully filling the form, enter the given captcha and click on the ‘proceed’ button.
Generate TRN by doing OTP verification and complete the GST application after putting TRN.
Login using TRN and fill the application as per the requirement and upload the required documents like electricity bill of registered office address and other supported documents
After uploading all documents, submit the application using DSC or EVC. And then ARN is generated.
After ARN, You can track the status on GST portal as well. Department have right to approve the GST and share the Login credentials over the registered mail id. If there is some incompleteness found in application, query raise by GST officers and applicant needs to submit the query within prescribed time.
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It is a destination based tax on consumption of goods and services. GST levied on all stages from the manufacturing of product to consumption by final consumer. On every stage tax applies and registered dealer takes input credit of taxes paid at previous stages for the purpose of setoff. Only additional cost in product will be liable for tax and cost bear by the final consumer.
Registration under goods and service tax will provide various advantages to the business like legally recognized as supplier of goods or services, and it reduces the possibility of double taxation.
A person is not allowed to claim any tax credit as input tax until his business is registered under GST. Only registered person having GSTIN for his business is eligible to claim credit of GST that is already paid on purchases by him or charge taxes on supply of products.
A person having numerous businesses in a particular state may obtain a distinct registration document for each business separately, subject to conditions as may be prescribed by GST law.
Yes, when we got registration certificate from GST department. It will be treated as permanent unless submitted, cancelled, postponed or withdrawn.
GST registration can be cancelled by receiving application by registered taxable person or by his legal representative in case of death of such person. If department seems that returns are not filing properly or with any reasonable cause then he can take the step for cancel the registration.
