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Goods & Service Tax is a new taxation system in India which came into effect from July 1, 2017. GST has replaced many Indirect Taxes in India. GST is the sole indirect tax for the entire country which is based on consumption of goods and services. The rules and regulations, tax rates are governed by the Goods and Service Tax Council which consists of the finance ministers of Centre and all the states. Goods & Service Tax rates vary from 0% - 28% depending on the type of service or Nature of Goods Your business is selling. The new GST registration process in India should be followed for GST registration procedure. The help of professionals can be taken for GST services.
GST registration process will be online through portal support by the Central Government of India. You can also register for GST from the Government portal however there is a certain field in the application which requires you to take professionals to help. Experts at CAONWEB helps you file GST registration online at the best price.
According to a new online GST registration procedure in India, the applicant has to apply online for GST registration certificate in India in which applicant take help of professional providing GST services by paying appropriate GST registration fees. The applicant will need to submit his PAN, mobile number and email address in Part a of Form Goods and Service Tax REG-01 on the GSTN portal or through Facilitation center (notified by the board or commissioner).
The PAN is verified on the Goods and Service Tax Portal along with the Mobile number and E-mail address to be verified with a one-time password (OTP). When the verification is complete, the applicant will receive an application reference number (ARN) on the registered mobile number and via E-mail. An acknowledgment should be issued to the applicant in FORM Goods & Service Tax REG-02 electronically.
Applicant needs to fill Part- B of Form Goods and Service Tax REG-01 and specify the application reference number. Then finally submit the form with the relevant documents to register for GST.
If additional information is required, Form Goods and Service Tax REG-03 will be issued. Applicant needs to respond in Form Goods & Service Tax REG-04 with required information within 7 working days from the date of receipt of Form Goods & Service Tax REG-03.
If you have provided all required information via Form Goods & Service Tax REG-01 or Form Goods & Service Tax REG-04, the registration certificate (GST REG –06) will be issued to the applicant for the principal place of business and for every additional place of business. If the details submitted are not satisfactory, the registration application is rejected using Form Goods & Service Tax REG-05.
The whole GST registration procedure takes around 7-8 working days.
The GST registration fees & pricing for the Online GOODS & SERVICE TAX Registration differs in accordance with the GST services of professional.
All registered businesses have to file monthly, quarterly and/or annual Goods & Service Tax Returns based on the type of business. There are various returns required to be filed by special cases such as composition dealers. The prices of GST registration fees can be compared on CAONWEB as it is providing a list of many professional providing the GST services and also helping in online GST registration certificate in India by following new GST registration process in India.
A return is a final document containing complete details of income which is required to file with the tax administrative authorities. The significance of the return is to calculate the tax liability of the taxpayer.
Under Goods & Service Tax a registered dealer has to file Goods & Service Tax returns that include:
If GST filing is not done within time, you will be liable to pay interest and a late fee. The GST return can be filed timely with the help of a chartered accountant or company secretary who is providing GST services.
Interest is 18% per annum which has to be calculated on the amount of outstanding tax to be paid. The time limit filing of GST return will be from the next day of filing to the date of payment. The maximum amount of late fees is 5000/- for GST filing.
No. A person without following GST registration procedure can neither collect Goods & Service Tax from his customers nor claim any input tax credit of Goods & Service Tax paid by him. GOODS & SERVICE TAX
Any person who wants to register for GST should take an online GST registration certificate in India, within thirty days from the date on which he becomes liable to registration, in such manner as may be prescribed.
Yes, any Registration granted under this Act may be rejected by the Proper Officer..
The goods and service tax you pay on input goods/services can be used as an Input Tax Credit (ITC) against output tax liabilities.
Reverse charge implies to settle government obligation is on the beneficiary of supply of goods and services rather than the provider of such products or administrations related to informed classifications of supply.
No, a person without following the GST registration procedure cannot claim ITC. He should register for GST in accordance to new GST registration process in India.