Showing posts with label GST Registration/Migration. Show all posts
Showing posts with label GST Registration/Migration. Show all posts

Thursday, 6 July 2017

Pros and Cons of Voluntary Registration in GST

Pros/Benifits-
  • you can do B to B( Business to Business) Transactions
  • Other registered dealers will not have to pay tax in reverse charge.

Modification in Registration

Core Fields- permission for Authority is required for changes and can be modified by only Tax Authorities.
  • Legal Name of business
  • Address of principal place or additional place of business.
  • Addition, Deletion or retirement of partners or directors etc.
Other Fields- Can be modified by self.
 e.g. contact details, HSN code  can be changed any time.

Basis of Registration

Registraion is 
  • PAN Based only
  • State wise seprate registration
  • One per state only - except in case of business verticals/SEZ units.
  • One principal place of business has to be given. Additional places can be given registration.
  • Registration is a must within 30 days of starting business.

who do not have to register??

  • person engaged exclusively in non-taxable or wholly exempted from tax.eg- milk trader
  • Agriculturist (farmer), in so far as supply of produce out of cultivation of land.
  • Persons engaged exlusively in supplies which are under Reverse Charge Mechanisum.

Who needs to Register in GST???

  • Turnover above 10 lakhs/20 lakhs p.a.
  • Inter-State Supplier
  • Required only in the state from where the supply is made.
  • Casual & non resident taxable persons
  • persons on whom there is responsibility of paying full tax under reverse charge.e.eg. transport aggregator
  • Electronic Commererce Operator (ECO)
  • Agents appointed on behalf of supplier

Friday, 30 June 2017

List of Documents Required for New GST Registration


List Of Documents Required For Fresh GST Registration
S No.Nature Of DocumentsSole ProprietorPartnershipLLPCompany Private /PublicSize of Documents
1PANYESYESYESYESNA
2ID & Address proofYESYES (Of Partner)YES (Of Partner)YES (Of Director)NA
3PhotoYESYES (Of Partner)YES (Of Partner)YES (Of Director)(JPG-100KB)
4Pass Book Bank StatementYESYESYESYES(JPG,PDF-100KB)/ (JPG,PDF-500KB)
5Electricity/Landline or Water Bill /Rent AgreementYESYESYESYES(JPG,PDF-100KB)/ (JPG,PDF-200KB)

Saturday, 17 June 2017

Migration of Existing Taxpayers of VAT, Service Tax, Central Excise will Restart from 25th June 2017

Existing Taxpayers of VAT, Service Tax, Central Excise

DO NOT WORRY

  • If you have not enrolled for GST yet, or
  • If you have activated your account under enrolment but not submitted the application

ENROLMENT WINDOW WILL REOPEN ON 25th JUNE 2017 AND CONTINUE FOR 3 MONTHS AS PER RULE.

Also note that your provisional ID will be your GST Identification Number (GSTIN).