Goods & Services Tax (GST) apply to all Indian service providers (including freelancers), traders and manufacturers, once their supply turnover crosses Rs. 20 lakh. The GST is an all-in-one tax that State and Central Taxes. GST is to be charged at every step of the supply chain, with complete set-off benefits available. The procedure for GST is completely online and requires no manual intervention. There will also be a composition scheme under GST for businesses with a supply turnover of less than Rs. 50 lakh. GST is applicable to Entities in special category states with an annual turnover of Rs.10 lakhs and above. There are three type of taxes SGST ( State Goods and Service Tax), CGST ( Central Goods and Service Tax ), IGST ( Integrated Goods and Service Tax ). In case the applicable entities to GST registration, if not get the GST registration, penalty proceeding will be imitated by the department.
As the GST is implemented in India, not to pay different taxes in different states by the consumers. The people can buy the goods same price in whole India.
Goods and Service Tax (GST) are already implemented by the various countries to boost their economy under single tax regime as per their country needs. GST is a very long expectation in India to implement the tax regime. GST will help entrepreneur to register in fast manner.
Before the month July 2017, entrepreneurs are filing returns with various authorities like service Tax Department, Commercial Tax Department, Central Excise Department. The GST implementation helps entrepreneurs to do the business with peace of mind as they are going to file the return under GST Act only.
For all those who have a liability to register themselves, if fails to do the same than under section 75A of the finance act 1994 penalty for the failure of an assessed to get himself registered was fixed at Rs. 500/- as a onetime payment but subsequently this section was deleted by the virtue of the finance act 2004 and now the general penalty that is applicable is Rs. 1000/- as per section 77 of Finance act.
Collection of Documents
Preparation of Application
Submission of Application
Certificate of Udyog Aadhar Registration