{"id":193,"date":"2019-01-11T10:52:05","date_gmt":"2019-01-11T10:52:05","guid":{"rendered":"https:\/\/www.earnlogic.in\/blog\/?p=193"},"modified":"2019-01-11T10:52:08","modified_gmt":"2019-01-11T10:52:08","slug":"steps-privileges-gst-registration","status":"publish","type":"post","link":"https:\/\/www.earnlogic.in\/blog\/steps-privileges-gst-registration\/","title":{"rendered":"Steps and privileges of GST registration"},"content":{"rendered":"\n

GST registration<\/a> can be called as a goal based tax which can coordinate India into a solitary market that can be connected during the time of consumption of services and items by the end-client. The GST tax is like the VAT tax that applies to the products and services provided to the end-client. Additionally, GST tax collection law is made to guarantee the money related concerns of the organizations that have the expenses added to them and these exchanges are straightforward and uncomplicated. The VAT number holders must register themselves in order to receive the GST number. The approach of GST is set to displace different indirect taxes in a single law connected to different services and products by the central government and the state government. <\/p>\n\n\n\n

\"Steps<\/figure>\n\n\n\n

In this way, on the off chance that you have not applied for the GST, then now you can apply and register for the GST number. This will formulate the exchanges for your business in various states and urban communities with one regular Taxation ID. There are diverse advantages of a GST registration<\/a> for a \u00a0business under the new GST scheme. The GST was levied and is said to be implemented since 1st July,2017.<\/p>\n\n\n\n

Features of GST registration<\/strong><\/h2>\n\n\n\n

CGST & SGST<\/strong><\/p>\n\n\n\n

GST has a\ncentral element (Central Goods and Services Tax or CGST) and a state element\n(State Goods and Services Tax or SGST). Hence the central and state Government\nwould levy GST tax on all the entities concerned to the sales involving goods\nand services of a company. Transactions among different states will incline the\nIntegrated Goods and Services Tax(IGST) which will be levied by the central\ngovernment.<\/p>\n\n\n\n

GST threshold<\/strong><\/p>\n\n\n\n

All the companies that do a business with a turnover of about Rs.20 lakh should register for the GST. The word “supply” shall take the turnover, stock-taking, discounts and freebies into consideration and serves as the keyword as well. In fact, the companies which supply non-taxable goods should also apply for GST registration<\/a>. Business which trades with other states should register for GST despite of the turnover they yield.\u00a0 <\/p>\n\n\n\n

Taxes subsumed by GST<\/strong><\/p>\n\n\n\n

The GST combines the Central Exercise Duty, VAT tax, Service tax, Customs duty, Central Sales tax, Cess, Octroi, Central surchange, Luxury tax, Purchase tax, Entertainment tax and a few other indirect tax. GST shall be levied on all services and goods including petrol and its products for GST registration<\/a> eventually.<\/p>\n\n\n\n

GST rates<\/strong><\/p>\n\n\n\n

The GST council\nhas been designed on a four-tier structure. The rate of the GST tax imposed\nwill be dependent on the type of the service and products or goods. The current\nexisting rates of GST are 5%, 12%, 18% and 28%. The GST for the gold is not yet\ndecided but is expected to be the least among all the other goods and services.<\/p>\n\n\n\n

GST registration for non-resident foreign tax payer<\/h4>\n\n\n\n
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Goods and Services Tax or GST has been implemented and imposed on all trades in India from 1st July, 2017 and all the non-resident (i.e. a person who does not live in India) taxpayers are also expected to apply and acquire GST registration<\/a> and file GST returns. According to the GST Act, \u201cnon-resident taxable person\u201d is any person who rarely handles transactions involving supply of products or services or both, either as a principal or a representative or in an equivalent , but only for the person that does not have a fixed place of business or residence in India. The\u00a0 non-resident taxable people should assign a legitimate\u00a0 person in India to handle all\u00a0 the procedures of the GST registration. <\/p>\n\n\n\n

Earnlogic is one of the leading company\u00a0 registration<\/a> services platform in Bangalore, offering\u00a0 various services like\u00a0 GST registration, GST return filing, private limited company registration, one person company registration, LLP registration, copyright registration, patent registration trademark filing and registration. Earnlogic consultants can help\u00a0 foreign companies and NRIs with\u00a0 GST registration services starting from GST registration to GST return filing with the help of an appropriate GST accounting software. Ten to fifteen working days are required to obtain GST registration, according \u00a0to the processing time of the government and the document submission of the client. One can also get a \u00a0consultation on GST registration, GST accounting and GST return filing for free of cost with one of our legal advisor.<\/p>\n\n\n\n

The\u00a0 non-resident taxpayers who are not Indian residents are \u00a0required to obtain GST registration<\/a> 5 days before starting the business in India. The GST registration application for a non-resident tax payer should be made with by an authorised agent in India. After filing the application, a transaction number will be provided and using that transaction number, the deposit of the GST should be made by the taxpayer to acquire GST registration in Bangalore or in any city within India.<\/p>\n\n\n\n

Advantages of GST registration<\/strong><\/h4>\n\n\n\n
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