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Online Goods and Service tax Registration - Online GST

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.  

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How to Get GST Registration ?
Any business offering sale of goods with annual turn over of 40 lacs or service with annual sales over of 20 lacs would require the registration for GST and have a valid GST Number.
Step 1 Concept Understanding

We help you to get a transparent understanding of the GST concept and the pre requite to understand the Operations about a business. One of our advisor will call you and helps you to understand the GST concepts

Step 2 Submission of Requisite Documents

We guide you tot get the correct docs ready and have clear discussion on the points need to consider the GST registration.

Step 3 Approval and Compliances

The business gets registered with the concerned GST jurisdiction and Certificate of Registration of GST is issued. In addition to delivering the Certificate of Registration of we help you to have a transparent understanding on the compliance's and precautions need to addressed

GST Overview and Concept

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.

Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number). The Central Government issues a state-wise, 15-digit number to you once you complete registration. There are many advantages of GST registration including the fact that you will get a legal identity as a supplier. You can also avail input tax credit and collect GST from recipients of goods and services.
The tax is levied on goods and services sold within India’s domestic boundary for consumption. Implemented by a majority of nations worldwide with respective customisations, the tax has been successful in simplifying the indirect taxation structure of India.

GST is levied on the final market price of goods and services manufactured internally, thereby reflecting the maximum retail price. Customers are required to pay this tax on a purchase of goods or services as an inclusion in their final price. Collected by the seller, it is then required to be paid to the government, thus implying the indirect incidence.

The GST rates on different goods and services are uniformly applied across the country. Goods and services have, however, been categorised under different slab rates for tax payment. While luxury and comfort goods are categorised under higher slabs, necessities have been included in lower and nil slab rates. The main aim of this classification is to ensure uniform distribution of wealth among residents of India.

What are the components of GST?

Goods and Services Tax (GST) contains three components applicable, basis the centre, the state and integrated levy.  They are as follows  –

    CGST – Central Goods and Services Tax is collected by the central government on sales conducted intra-state.

    SGST – State Goods and Services Tax is collected by the state government on the sale of goods and services within a particular state as well.

    IGST – The central government collects Integrated Goods and Services Tax on sales affected inter-state.

Here’s an example to help you understand the levy, collection and share of revenue between the state and the central government in India.

A seller in Rajasthan sells goods worth Rs. 1 lakh to a buyer in the same state. The tax rate applicable to the goods is 12%, comprising 6% of CGST and 6% of SGST. The total GST of Rs. 12,000 collected will be shared between the centre and the state at Rs. 6,000 each as the sale is made intra-state.

The same seller sold goods worth Rs. 50,000 from Rajasthan to Gujrat The tax rate applicable to these goods was 18%. The seller will thus charge IGST of Rs. 9,000 from the buyer due to it being an inter-state sale. The tax so collected will be submitted to the central government.

Once submitted, the tax will be shared by the central government and state government based on the supply of goods made. For the ease of tax collection, the government has made the entire system for the payment of GST online.

What are the Tax Rates under GST ?

The GST tax structure in India is divided into different rate slabs applicable for various goods and services divided accordingly. Following is the Goods and Services Tax (GST)structure in the India.
  •     Exempted goods (No tax applicable)
  •     0.25% rate slab
  •     5% rate slab
  •     12% rate slab
  •     18% rate slab
  •     28% rate slab

Goods and services tax at the highest rate slab is further divided into items with cess and items without cess. An important point to be kept in mind is that all entrepreneurs need to state the HSN code (Harmonized System of Nomenclature), which is a six-digit unique number assigned to respective goods and is accepted worldwide.

Documents Required for GST Registration

The list of documents required for registration of GST for various business constitutions are as follows:


Proprietorship
  • PAN Card and address proof of proprietor

LLP
  • PAN Card of LLP
  • LLP Agreement
  • Partners’ names and address proof

Private Limited Company
  • Certificate of Incorporation
  • PAN Card of Company
  • Articles of Association, AOA
  • Memorandum of Association, MOA
  • Resolution signed by board members
  • Identity and address proof of directors
  • Digital Signature

The following can be shown as proof of address of a director:-
  • Passport
  • Voter Identity Card
  • Aadhar Card
  • Ration Card
  • Telephone or Electricity Bill
  • Driving License
  • Bank Account Statement

Input Tax Credit (ITC) under GST

An Input Tax credit means that when a business person or a trader is paying tax on output, he/she can reduce the tax already paid on input (purchase).

For example, in the case of a manufacturer selling the final product, the output tax stands at Rs. 500. However, he already paid Rs. 200 as input tax while purchasing the product. He can thus receive an ITC of Rs. 200 on the final product and needs to pay only the difference of Rs. 300 , i.e., Rs. 500 – Rs. 200 to the government as Goods and Service Tax (GST).

ITC can be claimed only by businesses registered under the Goods and Services Tax Act. Also, all respective suppliers must be registered under the act for you to be eligible to avail ITC.

Why Call CA ?

Call CA helps you to get free  consultancy from experts. We provide online services of CA, CS & Lawyer like Company Registration, trademark, Accounting Legal Documentation, Web Policies, Statutory Compliance and Govt. Registrations etc. We start the registration  Process application within 24 Hours. We Understand Startup conceot & their needs and deliver accordingly. We are  commited for quality services at value for money.

FAQs

Can a person not register under the Goods and Services Tax Act claim ITC?

No, you need to register business under this act to avail the ITC claim.

What are the return filing requirements of a business opting for a composition scheme?

A business opting for composition scheme needs to file quarterly returns on the 18th of the following month after each quarter ends through GSTR-4. They also need to file annual GST return on 31st December of following financial year through GSTR-9A.

Can a dealer under a composition scheme avail ITC?

No, a dealer opting for a composition scheme is not eligible to avail ITC.

Does a non-resident taxable person need to register for GST?

Yes, every taxable person, including a non-resident taxable person needs to register for GST.

What is an E way Bill ?

E-Way Bill is the short form of Electronic Way Bill. It is a unique document/bill, which is electronically generated for the specific consignment/movement of goods from one place to another, either inter-state or intra-state.

Who can register under GST ?

Below mentioned taxpayers have to apply for GST registration: 1. Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.) 2. Taxable person who supplies goods and the annual turnover of his business is above 40 lakhs and the one who supplies services with annual turnover of rupees 20 lakhs. 3. Casual taxable person / Non-Resident taxable person. 4. Agents of a supplier & Input service distributor. 5. Those paying tax under the reverse charge mechanism. 6. Person who supplies via e-commerce aggregator. 7. Every e-commerce aggregator.

How much time does it take to get GST number?

After collecting all the required docs , GST registration takes 3-7 working days for the entire process to complete and receive the GST number.

How will exports be treated under GST?

Exports will be treated as zero-rated supplies. No tax will be payable on exports of goods or services, however, the credit of input tax credit will be available and same will be available as a refund to the exporters. The Exporter will have an option to either pay tax on the output and claim refund of IGST or export under Bond without payment of IGST and claim a refund of Input Tax Credit (ITC).

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