Goods and Services Tax
Goods and Services Tax (GST) is the newest reform in the Indian Taxation System, implemented in order to ease the doing of business. As the name suggests, GST applies to all types of businesses, irrespective of the business selling goods or offers services. Goods and Services Tax (GST) subsumes all taxes such as Sales tax, Service tax, Excise duty etc. into GST. If the annual sales of a business are more than Rs. 20 Lakh or the sales if done outside the home state then Goods and Services Tax Registration (GST Registration) is mandatory. However, if the sales are less than Rs. 20 Lakh, GST Registration becomes optional. Although, GST Registration is not mandatory for all scales and types of businesses, it is highly recommended that every business must get their GST Registration done in order to stay tax compliant.
How long will it take?
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One – Two Days
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Frequently asked Questions
Registration under Goods and Services Tax (GST) regime will confer the following advantages to a business:
- Legally recognised as the supplier of goods or services.
- Proper accounting of taxes paid on the input goods or services which can be utilised for payment of GST due on the supply of goods and/or services by the business.
- Pass on the credit of the taxes paid on the goods and/or services supplied to purchasers or recipients.
- Authorization to a taxpayer to collect tax on behalf of the Government.
Within 30 days from the date when your liability arose. In case of a Casual Taxpayer or Non-resident taxable person, 5 days prior to the commencement of the business
Before you apply for a GST Registration as a normal taxpayer, it is mandatory to obtain a PAN except for TDS registration which is possible through TAN.
TRN or Temporary Reference Number is a unique 15-digit reference number that allows you to access your new registration application on the GST Portal in the pre-login mode
Yes, you can add up to 10 authorised signatories.