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GSTRegistration

GST Goods Services TaxGST Good Services Tax is an indirect tax GST replaces all the current indirect taxes prevailing right now It is rather a consolidated form of all the other taxes which provides single and streamline process It is crucial to look upon the registration procedure for GST The GST resulting into ease in the administration and enforcement for the government as well as the businesses ELIGIBILITYLIABILITY FOR GST REGISTRATIONAs per the GST Council entities in the Northeast and hilly states with an annual turnover of Rs10 lakhs and above would be required to obtain GST registration For all other entities in rest of India would be required to obtain GST registration if annual turnover exceeds Rs20 lakhs Entities required to obtain GST registration as per applicable regulations and must file application for GST registration within 30 days from the date on which the IndividualEntity became liable for obtaining GST registrationADVANTAGESEasy Compliance due to elimination of multiple taxesEliminating cascading effect of taxes Tax rates will be comparatively lower as the tax base will be widenThe Seamless flow of Input tax creditPrices of the goods and services will fall due to elimination of cascading effectLower Cost of Locally manufactured goods and services giving boost to ExportsEfficient supply chain managementPromotes conversion from unorganized sector to organized sectorDOCUMENT FOR REGISTRATIONPANAadhar CardPhotograph of Authorized SignatoryShop ActCertification of Incorporationany other registration certificate of businessCopy of Authorization Letter including Resolution passed by Board of Directors Acceptance LetterProof of Place of BusinessElectric BillConsent LetterRent Agreement OR Rent Receipt with NOC for No or Expired AgreementLegal Ownership Document upto 1MB size like Index IIProperty Tax ReceiptCancelled ChequeFirst Page of Pass book with running page showing transactions within last 2 monthsBank Statement of last 2 months.

Niharika Patil

@ laywer ,cs | Posted 05 Jan, 2019 | Finance

Posted By: Niharika Patil (Updated 05 Jan, 2019)

Gst Registration


GST (Goods Services Tax)


GST (Good Services Tax) is an indirect tax. GST replaces all the current indirect taxes prevailing right now. It is rather a consolidated form of all the other taxes which provides single and streamline process. It is crucial to look upon the registration procedure for GST. …

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