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The Goods & Service Act was launched on July 2017, which applies to all Business holders fulfilling the conditions specified in the Act. It is a Value added tax that is levied on the supply of goods or services in India.
With the complete reform of the taxation system and the new GST Act coming into the picture the, issues related to it have increased a lot. Thus, we provide a complete end-to-end solution for your business starting from registration, monthly return filing, Input Credit Reconciliation, following up with vendors for the Reconciliation, Annual Return filing, and GST Audit.
It is mandatory for all those businesses whose aggregate turnover exceeds Rs 40 Lakhs in the case of Goods and Rs 20 Lakhs in the case of Services, in a particular Financial Year. However, for entities whose business is situated in the North Eastern States, for them, the turnover limit is Rs 20 Lakhs and Rs 10 Lakhs respectively.
GST Registration is compulsory in case, the business is engaged in Exports of Goods or Services or where there are interstate outward supplies of goods.
With the introduction of GST, the indirect taxation system has been simplified, as the various different taxes have been replaced with this single taxation.
Businesses can claim the benefit of Taxes paid on purchases, which helps in improving the working capital of the business and helps in tax compliance.
GST ensures uniform tax rates and procedures across the country, promoting transparency and reducing tax evasion.
GST simplifies inter-state trade and harmonizes tax laws, making it easier for businesses to expand and operate across state borders.
GST promotes a level playing field by eliminating the disadvantages faced by businesses in the pre-GST era. It enhances competitiveness and market opportunities for businesses.
PAN of Applicant
Aadhar Card
Address proof of the place of business
Certificate of Incorporation
Authorized Signatory photo
Letter of Authorization
MOA/AOA/Partnership Deed
GSTIN is a 15-digit alphanumeric code that is issued by GST Department.
In this, the First 2 Digit represents the State Code where the business is situated, the Next 10 Digits are the PAN of the Business
14th Digit is Z by default
The 15th Digit is the alphabetic check digit which is automatically generated
GST is a landmark tax reform in India that aims to streamline the indirect tax system. It has simplified tax compliance, eliminated tax cascading, and brought uniformity in tax rates. GST registration is essential for eligible businesses to comply with the tax regulations and access the benefits offered by the GST regime.
Our FAQ section addresses common inquiries to help you find the information you need quickly. If you have further questions, feel free to reach out!