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GOODS AND SERVICES TAX (GST)

GST refers to Goods and Services Tax which subsumes all taxes such as Sales tax, Service tax, Excise duty etc. into GST. GST registration is required primarily if your annual sales are more than Rs. 20 Lakh. Even if your sales are less than Rs. 20 Lakh, we suggest that you voluntarily opt for GST registration because:

  • You will not get any tax refunds on purchases
  • You cannot sell outside your state

GST registration typically takes between 2-6 working days. You need to file your application with the department and sign it with your digital signature.

  • GST Registration

  • GST Amendment

  • GST Return

  • GST e-way bill

  • GST Advisory

  • GST Training

  • GST Refund

  • GST Department Services

 

 

Who all need GST Registration?

The registration in GST is PAN based and State specific. Supplier has to register in each such State or Union territory from where he effects supply if he fulfills any of the following conditions:

  • Having an annual aggregate turnover from all-India operations which is above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States).
  • Currently registered under any of the earlier indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit.
  • Having branches in multiple states or multiple business verticals in one state.
  • Making any supply to other states.
  • Required to pay tax under Reverse Charge (In case your supplier is not registered under GST).
  • Required to deduct tax at source or an Input Service Distributor.
  • Agents of a supplier.
  • Supplying goods or services through E-commerce Operator.
  • E-commerce Operator / Aggregator who supplies goods or services under his brand name (e.g. Flipkart, Amazon, Ola).
  • Supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.

Benefits of Registration under GST

GST Registration will give the following advantages to a taxpayer.

  • He is authorized to collect taxes from his customers and pass on the credit of the taxes paid to them.
  • He can claim Input Tax Credit of taxes paid to his suppliers and can utilize the same for payment of taxes due
  • Seamless flow of Input Tax Credit from suppliers to recipients at the national level.

WHY CHOOSE US

We help the world’s leading companies drive predictable reverue and profitability growth by optimizing sales organization performance.
TAXDEALING believes in the value of relationships on professional competency and ethical basis. We view every client relationship like a partnership but at the same time maintained independence desired of a professional, and truly believe that our firm’s success is a result of our client’s growth and contribution to the national economy. Our dedicated professional team has carved a discernible niche for itself in the professional services industry. Our endeavour is to provide qualitative and expert professional services rendered efficaciously, sagaciously and with keen attention to details. We recognise the need to provide timely, focused and issue-based advice to our clients.

1. Who is exempted from requirement to get GST Registration ?

GST Registration is not mandatory for persons who :

  • Supply agricultural produce from cultivation.
  • Make only exempt supplies (Nil Rated or Non-Taxable supplies) of goods or services.
  • Make supplies which are entirely covered under reverse charge.

2. Is cancellation of GST Registration Certificate possible?

Registration can be cancelled in 2 scenarios:

  • When the taxable person wishes to voluntarily cancel his GST registration.
  • When the proper officer, on default by the taxable person, moves to cancel the GST registration on his own motion. This may be when the person is not doing business from his declared registered place of business or if he issues tax invoice without making the supply of goods or services.

3. Is amendment in GST Registration Certificate possible?

A taxable person can on his own, at the common portal, make amendments in some information without prior approval like e-mail IDs, mobile numbers etc. But in the case of following changes he will have to apply for amendment within 15 days:

    • Legal name of the business.
    • State of place of business or additional place of business.

This will be approved within the next 15 days.

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