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As a business owner, navigating the complexities of the Goods and Services Tax (GST) can be daunting, especially when it comes to the initial step of registration. In Indore, our expert GST registration services are designed to simplify the process for you, ensuring a smooth and hassle-free experience. Here’s an in-depth look at why GST registration is crucial, the challenges you might face, and how our services can help.
GST registration is a critical step for businesses operating in India. It offers several benefits and is mandatory under certain conditions.
Choosing the right partner for GST compliance can make a significant difference in your business operations. With our expertise, customized solutions, and commitment to excellence, we are the ideal choice for your GST filing registration in Indore.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
GST has mainly removed the cascading effect on the sale of goods and services. Removal of the cascading effect has impacted the cost of goods. Since the GST regime eliminates the tax on tax, the cost of goods decreases.
Also, GST is mainly technologically driven. All the activities like registration, return filing, application for refund and response to notice needs to be done online on the GST portal, which accelerates the processes.
There are three taxes applicable under this system: CGST,SGST and IGST.
CGST: It is the tax collected by the Central Government on an intra-state sale (e.g., a transaction happening within Maharashtra) SGST: It is the tax collected by the state government on an intra-state sale (e.g., a transaction happening within Maharashtra) IGST: It is a tax collected by the Central Government for an inter-state sale (e.g., Maharashtra to Tamil Nadu). In most cases, the tax structure under the new regime will be as follows:
| Transaction | New Regime | Old Regime | Revenue Distribution |
|---|---|---|---|
| Sale within the State | CGST + SGST | VAT + Central Excise/Service tax | Revenue will be shared equally between the Centre and the State. |
| Sale to another State | IGST | Central Sales Tax + Excise/Service Tax | There will only be one type of tax (central) in case of inter-state sales. The Centre will then share the IGST revenue based on the destination of goods. |
Let us assume that a dealer in Gujarat had sold the goods to a dealer in Punjab worth Rs. 50,000. The tax rate is 18% comprising of only IGST. In such a case, the dealer has to charge IGST of Rs.9,000. This revenue will go to Central Government.
The same dealer sells goods to a consumer in Gujarat worth Rs. 50,000. The GST rate on goods is 12%. This rate comprises CGST at 6% and SGST at 6%. The dealer has to collect Rs.6,000 as Goods and Service Tax, Rs.3,000 will go to the Central Government and Rs.3,000 will go to the Gujarat government since the sale is within the state.
(1) Name of Business
(2) Nature of Business
(3) PAN card
(4) Aadhaar card
(5) Photograph
(6) Bank statement or cancelled cheque
(7) Office address proof
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal khata Copy
~ If Rented Premises – Valid Rent Agreement
– Copy of latest electricity bill
(1) Name of Business
(2) Nature of Business
(3) PAN card of Firm
(4) Partnership Deed
(5) Authorization Letter for Appointment of Authorized Signatory
(6) Pan Card of All Partners
(7) Aadhaar card of All Partners
(8) Photograph of All Partners
(9) Bank statement or a cancelled cheque
(10) Office address proof
~ Owned Premises – Copy of latest electricity bill/ Property tax paid receipt/ copy of municipal
~ Rented Premises – Valid Rent Agreement and NOC (No objection certificate) from the owner copy of latest electricity bill.
(1) Name of Business
(2) Nature of Business
(3) PAN card of Company
(4) Certificate of Incorporation
(5) MOA and AOA of Company / LLP Deed
(6) Authorization Letter ( Board Resolution ) for Appointment of Authorized Signatory
(7) Pan Card of All Directors
(8) Aadhaar card of All Directors
(9) Photograph of All Directors
(10) Digital Signature of Authorized Signatory
(11) Bank statement or a cancelled cheque
(12) Office address proof
~ Owned Premises – Copy of latest electricity bill/ Property tax paid receipt/ copy of municipal
~ Rented Premises – Valid Rent Agreement and NOC (No objection certificate) from the owner copy of latest electricity bill
(1) Name of Business
(2) Nature of Business
(3) PAN card of Society / Club / Trust
(4) Registration Certificate of Society / Club / Trust
(5) Authorization Letter for Appointment of Authorized Signatory
(6) Pan Card of All Members / Trustee
(7) Aadhaar card of All Members / Trustee
(8) Photograph of All Members / Trustee
(9) Bank statement or a cancelled cheque
(10) Office address proof
Owned Premises – Copy of latest electricity bill/ Property tax paid receipt/ copy of municipal
~ Rented Premises – Valid Rent Agreement and NOC (No objection certificate) from the ownercopy of latest electricity bill
More than one GSTIN can be taken on a single PAN. For instance, when an entity has business in multiple states, it can take GST registration in each state.
A business may have business verticals i.e. distinguishable components engaged in business activities different from each other. In a single business there can be a manufacturing and trading units which can be considered as business verticals.
In this case, more than one registration can be obtained even when the Head Office and branches are located in the same state.
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.
GST registration is a legal requirement that allows businesses to collect tax and avail input tax credit under India's tax system.
GST Registration is a mandatory process for businesses in India whose turnover exceeds the prescribed limits. It allows businesses to legally collect and remit the Goods and Services Tax (GST) to the government. Registering under GST not only ensures compliance with tax laws but also enables businesses to claim input tax credits, thus reducing the overall tax burden. Whether you are a manufacturer, trader, or service provider, obtaining a GST registration is essential to operate smoothly and avoid penalties.
GST Registration is the process by which a business gets registered under the Goods and Services Tax (GST) law to legally collect and pay GST to the government.
Any business with an annual turnover exceeding the prescribed threshold (usually ₹40 lakhs for goods and ₹20 lakhs for services) must register for GST.
Typically, GST registration is processed within 7 to 10 working days after submitting the application and required documents.
Basic documents include PAN card, Aadhaar card, proof of business address, bank account details, and photographs of the proprietor or partners.
Apart from legal compliance, GST registration provides several benefits such as expanding your business credibility, enabling interstate sales, and allowing you to participate in government tenders. The registration process is straightforward and can be completed online with the submission of key documents like PAN, Aadhaar, business address proof, and bank details. With timely registration, businesses can ensure smooth tax payments and access various GST-related schemes and incentives.
GST registration and return filing to meticulous tax preparation and planning, we handle every aspect of the process with precision and care. We assist in maximizing your deductions and credits, managing input tax credits, and providing robust audit support to ensure you stay compliant and optimize your tax position.
