GST Registration Overview
Goods and Services Tax (GST) is an indirect tax levied in India on the supply of goods and services. GST is levied 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. Goods and services are divided into five tax slabs for collection of tax – 0%, 5%, 12%,18% and 28%. However, Petroleum products, alcoholic drinks, electricity, and real estate are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax regime. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate for most goods was about 26.5%, Post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from July 1 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple cascading taxes levied by the central and state governments.
Who Should Register for GST?
- Businesses with turnover above the threshold limit of Rs. 20 Lakhs
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Agents of a supplier & Input service distributor
- Person who supplies via e-commerce aggregator
- Every e-commerce aggregator
Requirement for GST application
- Aadhar card of authorized signatory
- Pan card of individual/company/firm
- Photo of authorized signatory
- Proof for business address
- Latest electricity bill
- Rent agreement
- Account statements of all bank accounts-of last two months
- Proof of residence
- electricity bill
- SSI/Shop Act License (any one)
- Certification of Incorporation/Partnership deed
- MOA&AOA of company
Steps Involved in GST registration
Preparation of application
- Our Experts will call you and guide you about GST registration.
- Mahapreneur mail you required documents list.
- Mahapreneur collect all necessary documents.
Drafting of application
- Mahapreneur gather your information and documents and verify it.
- Mahapreneur prepare your application in prescribed format.
- Mahapreneur submit your application to concerning Governmental authorities.
- after processing of application concerned authority issue your GST Code.
Get In Package
- GST Registration
- 10% Discount on GST ready Invoice Software
- Legal Support
- GST Billing Support
- 10% Off on GST Filing
- Call on 9730252210 for more Information.
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