Goods and Services Tax (GST) is a all-in-one tax levied on manufacture, trade and services across India. From 1st July 2017 GST has replaced indirect taxes like VAT, Service Tax, Excise etc. Goods and Services Tax Identification Number (GSTIN) is a 15 digits number to be used to identify businesses registered under GST.

Registration under GST are applicable if your annual turnover is more than 40 Lacs (20 lakhs for the North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand)

No, New GST Registration is a fully online process. As all Forms are filed electronically. You would need to send us scanned copies of all the required documents. You can GST registration status by visiting GST registration portal.

It is a mandate issued by Govt. of India who basically try to save tax and keep oneself from the cascading effect of tax.

Yes, it is mandatory to pay GST for all the tax payers who is registered under GST regime.

The full form of CGST– Central Goods and Service Tax | SGST– State Goods and Service Tax | IGST– Integrated Goods and Service Tax

CGST and IGST are levied by Central Govt. and SGST is levied by State Govt.
CGST and SGST are paid for Intra-State Supply and IGST is paid for inter-State supply.

The limit to be considered under GST law differs on the basis of different categories:-
– Manufacturing Sector: 40 lakhs
– Service sector: 20 lakhs
– In North Eastern states: 10 lakhs

Origin Based Tax or production tax is levied where services or products are produced

Destination based tax or consumption tax are levied where the services or the products are being consumed. In this kind of taxation, exports are considered together with nil tax amounts whereas imports are taxed on par with the production done in the domestic sphere.

Goods and Services are categorized into five categories of tax slabs for collection of tax- 0%, 5%, 12%, 18% and 28%.

– In case of delay in GST filing, the penalty of Rs. 200/- is charged per day. There is no late fee charged in IGST.
– When GST Return is not filed, then 10% of the due tax will be the penalty amount or Rs. 10000, whichever is earlier.
– When someone commits fraud, then there will be a penalty which is 100% of the due tax or Rs. 10000 – whichever is earlier.

Composition Scheme is a easy process under the GST law for all the taxpayers who can avoid difficult formalities pay the GST at a fixed rate based on the turnover. The taxpayers, whose revenue is less than Rs. 1 crore, can opt for this scheme. But recently the CBIC announced the increase the threshold limit from Rs. 1 crore to Rs. 1.5 crores. In case of North eastern states and Himachal Pradesh, the limit is now Rs. 75 lakhs. The GST rate under the composition scheme is only 1 % of the annual turnover in case of the manufacturer or traders of products.

A person liable for GST registration must apply for the GST within 30 days from the date he becomes liable for GST.

PAN is mandatory for general taxpayers and also the casual taxpayers entitled under GST.

An entity operating in multiple states will have to register separately for each state from where supplies of goods or services take place.

Once the GST Certificate is issued, the registration is valid until it is surrendered, cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a limited validity period.

GSTIN is allotted within 24 hours after submitting GST application with all necessary documents.

GST certificate is provided in soft copy format by Govt. of India. After the allotment of GSTIN, GST certificate can be downloaded from the GST portal at anytime by the applicant.

ARN stands for Application Reference Number. It is a proof of successful submission of the application to GST servers. It is generated after TRN or Temporary Reference Number and uploading of required documents.

HSN or SAC code refers to Goods and Services code. At Compliance India, the GST expert helps you to choose the suitable HSN or SAC Code after getting the details about the business.

If you are handling your business from your home, then you can register the residential address with the GST. It requires only the address proof such as electricity bill, NOC, sale deed or link agreement.

DSC is required in case of private limited company, LLP etc. In case of proprietorship firm or partnership firm, DSC is not required.

Yes you do need a personal saving account or current account. If you are starting a new business and have a personal saving account, then it can be provided and after the registration is done, you can apply for the new current account depending on the GST certificate.

After applying for the GST registration, each month you have to raise GST invoice for your customers or clients and charge proper GST amount to them. At the end of the month you have to pay the taxes online.

If you don’t submit correct required documents during submission of registration, then the jurisdiction officer shall reject the application. You have to apply again along with proper documents.

We require the copy of electricity bill or NOC from the landlord in case of rented place. NOC format will be share by our company during registration process.

On the recommendations of the GST Council, a new scheme of Quarterly Returns with Monthly Payments (QRMP) will be introduced from 1st January 2021.
Under this scheme, taxpayers with upto Rs. 5 Crores Aggregate Annual Turnover (AATO) in the previous and the current financial year would be given an option to file their Return/Statement in Form GSTR-1 and Form GSTR-3B Quarterly with a simple payment challan for the first two months of the quarter.

ComplianceIndia can take your GST Registration certificate in 3-4 working days after submission of all required documents. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please ensure you have all the required documents prior to starting the registration process.