Persons making the inter-state supply of services are exempted from obtaining online GST registration up to a turnover limit of Rs. 20 Lakhs (Rs. 10 Lakhs in special category states). Persons making a taxable supply of services through e-commerce operators are not required to obtain compulsory GST registration up to aggregate turnover of Rs. 20 Lakhs (Rs. 10 Lakhs in special category states)
GST Registration OnlineAs per GST jurisdiction, any business operations whose annual turnover exceeds Rs 40 lakhs must register as a separate taxable provision.
As per GST jurisdiction, if you're doing any business without GST registration, it's considered an offense.GST or Goods and Service Tax - One Nation One TaxBeing the biggest tax reform in India, GST levied on the goods and services which includes both the Central taxes (CST, Service Tax, Excise Duty) and State taxes (VAT, Entertainment Tax, Luxury Tax, Octroi).
This will help the buyer in touch only GST which is charged by the last dealer within the chain of trade and provide .As per GST Regime, any business operation whose annual turnover is exceeding quite Rs.40 lakh is required to register as a traditional taxable individual.
However, there's an exclusion for hill states and North East, the annual turnover is exceeding quite Rs.20 Lakh for them.To obtain GST Registration Online is mandatory for all types of businesses whose turnover comes under the above-mentioned criteria.
If a business entity carries any business activities without GST registration, it will be conceived as a punishable offense and the business and its owner will be liable to pay heavy penalties and legal issues.Who is eligible for GST Registration Online?The person who is registered under Pre-GST law such as Excise, VAT, Service Tax Businesses that hold turnover exceeding more than Rs.
20 Lakh for the North Eastern States, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand.
As we are all aware that the newly launched Income Tax Portal is facing many technical glitches and the Honourable Finance Minister had earlier asked Infosys to update the portal by 15th September 2021, an extension in the deadline of filing income tax returns was already expected.
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India has followed a dual GST structure, during which both states and central government impose tax/Fees on goods and/or services.The taxpayer or the business that obtains GSTIN implies it to gather and pay GST on their business dealings or supplies i.e., purchases, to form it clear i.e., sales and claim GST input decrease on the inward goods and services.
Basically, the kinds of GST Registration Cost depend upon the kinds of the business.
Following are the three sorts of GST which has been implemented within the country:SGST: The State Goods and Services Tax is levied by the government .CGST: The Central Goods and Services Tax is levied by the central government of India.IGST: The Central Goods and Services Tax is levied by both state and central government together, under the central government.UTGST: The Union Territory Goods and Services Tax is imposed on the Intra UT supply of goods and servicesAs per the new tax regime, tax will be deducted in the name of GST at every point of sale.
Goods that are imported will fall into IGST as they're going to be considered as inter-state sales.The State Goods and Services Tax (SGST)SGST or State Goods and Services Tax is one of the two taxes which is imposed on business dealings of goods and services of every state.
This tax is levied by the government of each state, and it replaces all kinds of existing state tax like Entry Tax, Sales Tax, Entertainment Tax, VAT, and so on.
The IGST is imposed only the products and services are distributed from one state to a different for sales purposes.The Union Territory Goods and Services Tax (UTGST)UTGST is levied on the Intra UT supply of products and services.
In the GST Regime, businesses whose turnover exceeds Rs.
40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person.
This process of registration is called GST registration.GST Registration is a tedious 11 step process that involves the submission of many business details and scanned documents.
You can opt for ClearTax Goods And Services Tax (GST) Registration services where a GST Expert will assist you, end to end with GST Registration.GST registration is a PAN based registration that is done online.
It takes around 3-6 working days within which a temporary number (TRN) is generated on time.
GST registration is confirmed by the GSTIN (GST identification number) which is provided by the tax authorities to monitor tax payments and compliances of the registered person and it is a unique 15 digit number.
