GST Registration Consultants in JP Nagar; As a goods and service supplier, if you fail to enroll for Goods Service Tax, you can give rise to huge fines and difficulties that can go up to 100% of your owed tax amount. enrolling for GST (goods service tax) means you can also collect GST from your buyer. Hence, to avoid any dispute with the law, you must enroll for Goods service tax.
GST (Goods and Services Tax) is an incidental tax that was incorporated on 1st July 2017. It is charged on the furnish of goods and services all over India. It has brought uniformity in the indirect tax structure of all substitute indirect taxes that obtain in the pre-GST system such as VAT (value-added tax), service tax, excise duty, etc. Simply put, GST (Goods and Services Tax) has incorporated the theme of "One Nation One Tax."
Why Goods service tax is important?
Enrolling of any company/firm under the Good service tax (GST)Law involves obtaining a unique number from the anxious tax authorities for the object of accumulating tax on behalf of the government of India and to make use of ITC for the taxes paid on his internal supplies. Without enrolling a business/firm, A person can neither collect tax from his consumer/buyer nor insist on any credit of tax paid by him. Total income of business exceeds of Rs.40,00,000 (supply of goods in normal state), Rs.20,00,000 (supply of goods/services in normal state), Rs.20,00,000 (supply of goods in specific state) or Rs. 10,00,000 (Supply of goods/services specific state) and above would be required to enroll under Goods Service Tax. The eligible business/firm must file a Goods Service tax application within 30 days from the date on which the entity became responsible for enrolling under Goods Service Tax law.
Who is eligible to register under GST?
“Top GST Consultants in JP Nagar” All the organizations supplying goods whose income exceeds Rs 40 lakh in an accounting year are required to enroll as a casual taxable business person. though, the entry limit is Rs 10,00,000 if you have a firm in the north-eastern states. The income limit is Rs 20,00,000, and in the case of marked category States, Rs 10,00,000 for the service providers.
Also, here is the list of some businesses for which Goods Service Tax registration is compulsory irrespective of their annual income:
- Casual available individual/ISD (Input Service Distributor)
- Non-inhabitant available individual
- Inter-state provider of merchandise and ventures
- Supplier of products through an online business entry
- Any specialist co-op
- Liable to pay a charge under the converse charge system
- TDS/TCS diductor
- Online information access or recovery specialist organization
Reports to need to GST enrolment
- For GST enrolment must require reports are
- PAN card of business
- Proof of business enlistment or fuse authentication
- Identity and Address confirmation of Promoters/culinary expert Director with photos and address evidence of the individual
- Company address confirmation
- Bank account explanations or dropped check
- Aadhaar card if it is required
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signature
How to get the best GST Registration services provider in JP Nagar?
Do you want to get a GST Registration provider in JP Nagar, Bangalore, Karnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected].in or feel free to contact: 7975187793 or visit https://www.consultry.in/