GST MATTER

The Goods and Services Tax (GST) is a Value-Added Tax (VAT) levied on most goods and services. The GST shall be paid by consumers, but it is remitted to the government by the business owners who sell the goods or services.

GST is a tax on goods and services sold.
Taxes are included in the total price paid by consumers.
It is usually taxed at a single rate across a nation.
It simplifies the taxation system and reduces tax avoidance.
 

• Central Goods and Services Tax  charged on the intra state supply of products and services.
• State Goods and Services Tax  charged on the sale of products or services.
• Integrated Goods and Services Tax  charged on inter-state transactions of products and services.
• Union Territory Goods and Services Tax  Levied on the supply of products and services in any of the Union Territories.
   

Businesses whose turnover exceeds  Rs.40 lakh or Rs.20 lakh or Rs.10 lakh  must register for GST.
For few businesses, registration under GST is mandatory. It is an offence to not to register any business under GST as heavy penalties will be imposed for the same. GST registration usually takes between 2-6 working days. 

Documents:

• a) PAN 
• b)Aadhar Card
• c) Proof of business registration or Incorporation certificate
• d) Identity and Address proof of Promoters/Director with Photographs
• e) Address proof of the place of business
• f) Bank Account statement/Cancelled cheque
• g) Digital Signature
• h) Letter of Authorization/Board Resolution for Authorised Signatory