Goods and Service Tax (GST) is a comprehensive tax levy on manufacture, sale, and consumption of goods and service at a national level under which no distinction is made between goods and services for levying of the tax. It will mostly substitute all indirect taxes levied on goods and services by the Central and State governments in India.

GST is a tax on goods and services under which every person is liable to pay tax on his output and is entitled to get input tax credit (ITC) on the tax paid on its inputs(therefore a tax on value addition only) and ultimately the final consumer shall bear the tax.

• GST is a single tax and tax on tax will be eliminated. Several Auxiliary Taxes will be removed in Single Tax.
• All the goods and services will be given at same price in all the states.
• Compliance cost will fall.
• GST Law is a single tax system. Several auxiliary taxes would be eliminated.
• Efficient supply chain management.
• Seamless flow of Input tax credit.
• Removing of cascading effect of taxes.

• Note that your provisional ID will be your GST Identification Number (GSTIN).
• Taxpayers who have received Acknowledgement Reference Number (ARN) will be able to download the Provisional Registration Certificate at GSTN Portal from 27th June 2017.
• If the enrollment form has been saved with all details but has not been submitted with DSC, E-Sign or EVC then the ARN will be sent to the registered email ID, if the data given is successfully validated after 27th June 2017. In a case of validation failure (PAN not matching), login will be activated at the portal from 27th June 2017 onwards to correct the errors.
• Partially completed enrollment form can also be completed after the mentioned date.
• New registrations under GST for other than existing Taxpayers who wish to register would be allowed at the GSTN portal from 25th June 2017.

GST Registration Exemptions

Below are the persons exempted from GST Registrations:

• Agriculturists
• Persons making Nil-Rated/ Exempt supplies of goods and services
• Persons making Non-Taxable/ Non-GST supplies of goods and services
• Activities that are neither Supply of Goods or Services
• Persons making only supplies covered under Reverse Charge

Effective date of GST registration

Where the application for registration has been submitted within 30 days from the date on which the person becomes liable to registration, the effective date of registration shall be the date of his liability for registration.

Where an application for registration has been submitted by the applicant after thirty days from the date of his becoming liable to registration, the effective date of registration shall be the date of grant of registration.

In a case of voluntary registration, there’s a threshold exemption limit for paying tax, the effective date of registration shall be the date of the order of registration.

• Smooth transition into GST Registration
• Consolidated form of all the other taxes
• Provisional Enrolment number
• Permanent Registration under GST

• Business Model Optimization for hassle-free GST compliance
• GST Input & Output tax consulting
• Develop and provide multi-jurisdictional GST regulations, Implementation, and training
• Developing business transformation
• Advisory on configuring CRM systems as per GST Act & Rules.
• Training your finance team for GST Transaction flow
• Developing legal, finance and tax structures in your organization
• Government relations support& Compliance management
• Support Companies with audits by government / GST Authority
• Appeal before GST Appellate authority
• Annual GST Compliance report to Board of directors

• TaxAdvisorIndia.com can obtain GST Tax Registration in 14 to 20 days, subject to Government processing time.

  • GST Application
  • Application Processing & response
  • Completion of Certificate and other compliances

Proprietorship/ individual

• Pan Card
• Adhar card/ Voter ID / Passport
• 2 Photos
• Bank Account Details/ Cancel Cheque
• Electricity bill
• Rent Agreement
• NOC

Partnership / LLP

• Pan Card Of company
• Partnership Deed
• Electricity Bill
• Rent Agreement
• NOC
• Bank Account Details/ Cancel Cheque
• Partners Details
  • Pan Card
  • Adhar card/ Voter ID / Passport
  • 2 Photos

OPC / Pvt. Ltd. Company

• Pan Card
• Incorporation Certificate
• Electricity Bill
• Rent Agreement
• NOC
• Bank Account Details/Cancel Cheque
• Directors Details
  • Pan Card
  • Adhar card/ Voter ID / Passport
  • 2 Photos

Registration under Goods and Service Tax (GST) regime will confer following advantages to the business:

• Legally recognized as a supplier of goods or services.
• Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on the supply of goods or services or both by the business.
• Legally authorized to collect tax from his purchases and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients.

There are so many compliances under GST and if not complied properly, then there is a provision of high penalties. Here is three main compliance:

• GSTN Invoices: Under GST regime, each and every invoice shall be uploaded on GSTN portal to generate reference no. before making the supply.
• 3 Returns: There are 3 monthly returns which are required to be filed on the basis of invoices uploaded. (GSTR 1, 2 & 3)
• Annual Return: There is one annual return as well which is also required to be filed.

What is Goods and Services Tax (GST)?

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as set off. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.

What exactly is the concept of a destination based tax on consumption?

The tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as a place of supply.

Which of the existing taxes are proposed to be subsumed under GST?

The GST would replace the following taxes: (i) taxes currently levied and collected by the Centre: a. Central Excise duty b. Duties of Excise (Medicinal and Toilet Preparations) c. Additional Duties of Excise (Goods of Special Importance) d. Additional Duties of Excise (Textiles and Textile Products) e. Additional Duties of Customs (commonly known as CVD) f. Special Additional Duty of Customs (SAD) g. Service Tax h. Central Surcharges and Cesses so far as they relate to supply of goods and services (ii) State taxes that would be subsumed under the GST are a. State VAT b. Central Sales Tax c. Luxury Tax d. Entry Tax (all forms) e. Entertainment and Amusement Tax (except when levied by the local bodies) f. Taxes on advertisements g. Purchase Tax h. Taxes on lotteries, betting and gambling i. State Surcharges and Cesses so far as they relate to supply of goods and services.

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Other services offered by TaxadvisorIndia: Sole Proprietorship registration, LLP Company Formation registration, One Person Company formation, Partnership Firm registration, Trademark Registration, Digital Signature, etc.