GST Registration
How GST Registration Works?
GST Registration Overview
GST is also known as Goods & Services Tax is launched on July 1, 2017 is a tax scheme
applies to all service providers in India consisting of traders, manufacturers, and freelancers.
Different types of taxes covered like service tax, excise duty, CST,
and state tax like
entertainment tax, luxury tax, octroi, and vat merged under one tax scheme that is GST.
A taxpayer with a turnover of less than 1.5 Crore can opt for a composite scheme for relaxation from GST
and pay their GST on a fixed slab of turnover.
GST registration typically takes between 2-6 working days. You need to file your application with the
department and sign it with your digital signature
What is GSTIN (Goods And Services Tax Identification Number)?
A GSTIN is a “Unique Identification Number” given to a GST taxpayer. A person who has a GST number can verify their GSTIN details online.
Types Of GST Registration
There are two types of GST registration:
Registration Under Composition Scheme:
This scheme is for small taxpayers to ease tax compliance. It allows eligible payers to pay a certain percentage of their annual revenue in the form of tax. For example, small retailers, eateries, and trading businesses. it enables taxpayers/businesses to collect taxes along with these benefits:
File quarterly return one time.
It gives the business advantage by paying lower taxes.
Account books are easily maintainable as per GST Norms.
Eligibility criteria for registration under GST Composition Scheme:
Must be a Registered Taxpayer with an annual turnover of less than Rs 1 Crore. Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.
Registration As a Casual Taxable Person:
The individual who supplies taxable goods and services occasionally needs to register as a casual taxable person before providing any goods and services need to register as casual taxable person. For Example, Mr.Raj has a consulting business that provides services in different states, so he needs to register as a casual taxable person to comply with the tax norms of that particular state.Here Are Some of Our Services
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