What is GST?
GST, Goods and Service Tax, is a tax imposed on sales,
manufacturing and usage of goods and services which subsumes and replaces all
taxes such as Sales tax, Value Added Tax, Central Excise Duty, Service tax etc.
It aims at improving ease of doing business, reducing tax complexities and
achieving overall economic growth. GST was introduced on 1st July
2017 and became the biggest tax reform in India.
Who needs GST Registration?
You need GST Registration if you are doing business in
trading of goods or services with an annual turnover of 20 lakhs or more. The
turnover limit is Rs.10 lakhs for businesses in north-eastern and hill states.
What are the benefits?
GST
Registration is a simple and easy online procedure with many advantages. One of
the most important benefit of GST is elimination of cascading effect of tax
means “tax on tax”. There will be a seamless flow of Input Tax Credit from
suppliers to customers at the national level.
What are Registration
Requirements?
§ PAN Card of the Company / Directors / Applicant
§ Identity Proof of Directors
§ Address Proof of Directors
§ Business Registration Certificate
§ Bank Account Details
§ Letter of Authorization for signatory
How to Register?
GST Registration procedure takes 3-7
working days. You need to file an application, provide documents to the
department and sign it with your digital signature. FinComIndia can help you
get GST certificate while sitting at home by providing door to door services in
India. FinComIndia offers a variety of
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