GST PRACTITIONER-BOKARO-GST CONSULTANT- BOKARO-GST REGISTRATION CONSULTANT- BOKARO-GST RETURN FILING AGENT- BOKARO-GST CONSULTANT- BOKARO

GST PRACTITIONER-BOKARO-GST CONSULTANT- BOKARO-GST REGISTRATION CONSULTANT- BOKARO-GST RETURN FILING AGENT- BOKARO-GST CONSULTANT- BOKARO

GST PRACTITIONER-BOKARO-GST CONSULTANT- BOKARO-GST REGISTRATION CONSULTANT- BOKARO-GST RETURN FILING AGENT- BOKARO-GST CONSULTANT- BOKARO

Goods and Service tax is a new indirect tax in India. Almost 18 indirect taxes have been subsumed in GST making it single and common indirect tax regime to be functioning across India. Till 25th June, 2017, persons having registration under excise, service tax, vat and other old indirect taxes were allowed to migrate into GST. But with effect from 25th June, 2017, now persons are allowed to take new registration for his or her business. Apart from this government has also allowed professionals to enroll as GST practitioner in GST regime. Only GST practitioners are allowed to file gst returns on behalf of their clients.

 

What is GST Registration?

Every business carrying out a taxable supply of goods or services in India and whose turnover exceeds the threshold limit of Rs. 20 lakh/10 Lakh as applicable will be required to take GST registration on or after 1st July, 2017. But Persons having registration in any of old indirect taxes can migrate to GST instead of taking new GST registration. On successful registration, GSTIN is alltoted to the applicant.

GST PRACTITIONER-BOKARO-GST CONSULTANT- BOKARO-GST REGISTRATION CONSULTANT- BOKARO-GST RETURN FILING AGENT- BOKARO-GST CONSULTANT- BOKARO

Types of GST Registration:

    • Compulsory Registration: Individual or Entity having turnover exceeding 20 lakh rupees.
    • Casual registration: A person who occasionally supplies goods and/or services in a territory where GST is applicable but he does not have a fixed place of business in that territory. Such a person will be treated as a casual taxable person as per GST.
    • Composition Scheme:
    • This is an option available to small businesses and taxpayers having a turnover less than Rs. 75 lakhs. They can opt for Composition scheme where they will tax at a nominal rate of 1% or 2.50% (for manufacturers) CGST and SGST each.
      They will be required to maintain much less detailed records and file only 1 quarterly return instead of three monthly returns. However, they cannot issue taxable invoices, i.e., collect tax from customers, but are required to pay the tax out of their own pocket. They cannot also claim any input tax credit. Composition levy is available to only small businesses. It is not available to interstate sellers, e-commerce traders, and operators.

Applicability

ELIGIBILITY: Any Individual or Entity shall be required to get registration under GST if it fulfills any of the following criteria:

  1. has annual aggregate turnover from operations exceeding Rs.20 Lakhs or,
  2. has any of the indirect tax registration(VAT, Service Tax, etc) or,
  3. is required to pay tax under reverse charge or,
  4. is Input service distributor or,
  5. makes an interstate taxable supply or,
  6. is an Nonresident Taxable person.

GST PRACTITIONER-BOKARO-GST CONSULTANT- BOKARO-GST REGISTRATION CONSULTANT- BOKARO-GST RETURN FILING AGENT- BOKARO-GST CONSULTANT- BOKARO

Major Indirect Taxes replaced by GST:

TAXES REPLACED BY GST:-

The GST replaces numerous different indirect taxes such as:

  1. Central Excise Duty
  2. Service Tax
  3. Countervailing Duty
  4. Special Countervailing Duty
  5. Value Added Tax (VAT)
  6. Central Sales Tax (CST)
  7. Octroi
  8. Entertainment Tax
  9. Entry Tax
  10. Purchase Tax
  11. Luxury Tax
  12. Advertisement taxes
  13. Taxes applicable on lotteries.

 

For More information, please fill the contact us form or whatsapp/call us at 8540099000, 8540085000, 8540078000 or email us at info@meerad.in

 

FAQ ABOUT GST:

1. Who is an existing taxpayer?

An existing taxpayer is an entity currently registered under any State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax Act.

Existing taxpayers include taxpayers already registered under :-

  • Central Excise
  • Service Tax
  • State Sales Tax or VAT (except exclusive liquor dealers if registered under VAT)
  • Entry Tax
  • Luxury Tax
  • Entertainment Tax (except levied by the local bodies)

2. What does the word ‘enrolment’ under the GST Common Portal mean?

Enrolment under GST means validating the data of existing taxpayers and filling up the remaining key fields by the taxpayer in the Enrolment Application at the GST Common Portal.

3. Do I need to enrol for GST?

All existing taxpayers registered under any of the Acts as specified in Question 1 will be transitioned to GST. The enrolment for GST will ensure smooth transition to the GST regime. The data available with various tax authorities is incomplete and thus fresh enrolment has been planned. Also, this will ensure latest data of taxpayers is available in the GST database without any recourse to amendment process, which is the norm to update the data under tax statutes today.

4. Why do I need to enrol myself as a taxpayer on the GST Common Portal?

The GST Common Portal has been made available to enable taxpayers enrol with GST. Paper based enrolment option is NOT available.

The GST Common Portal will enable taxpayers to meet the GST compliance requirement like filing return and making tax payment. Using the Portal requires existing taxpayers to enrol.

5. Who is not liable to register under GST?

The following persons shall not be liable to register, namely:

(a) any person engaged exclusively in the business of supplying goods or services or both that are not liable to tax or wholly exempt from tax under this Act or under the Integrated Goods and Services Tax Act;

(b) an agriculturist, to the extent of supply of produce out of cultivation of land.

(2) The Government may, on the recommendations of the Council, by notification, specify the category of persons who may be exempted from obtaining registration under this Act.

6. Is there a concept of deemed enrolment under GST?

No. There is no deemed enrolment under GST. All the taxpayers registered under any of the Acts as specified in Question 1, are expected to visit the GST Common Portal and enrol themselves at the GST Common Portal.

7. Is there a fee or charge levied for the enrolment under GST?

No. There is no fee or charge levied for the enrolment of a taxpayer under GST.

8. When do I need to enrol with the GST Common Portal? Is the enrolment process different for taxpayers registered under Centre, State or Union Territory tax Acts? Is the enrolment process different for taxpayers registered under Centre, State or Union Territory Tax Acts as specified in Question 1?

The taxpayers registered under any of the Acts as specified under Question 1 are required to enrol at the GST Common Portal. The State VAT and Central Excise registered taxpayers can start enrolling from October, 2016 on the GST Common Portal as per plan indicated on the Portal. The taxpayers registered under Service Tax will be enrolled on a later date for which separate intimation will be sent.
No. The enrolment process is common for all taxpayers registered under Centre, State or Union Territory Tax Acts as specified in Question 1.

9. Are existing taxpayers required to enrol separately with Central and State authorities under GST?

No, any existing taxpayer who wants to seek enrolment under the GST Act needs to apply at the GST Common Portal. Enrolment under the GST is common for both Central GST and the State GST. There will be common registration, common return and common Challan for Central and State GST.

10. What is the format of Provisional ID?

11. Which information and documents are required to enrol with GST?

Before enrolling with the GST Common Portal, you must ensure to have the following information:

  • Provisional ID received from State/ Central Authorities
  • Password received from the State/ Central Authorities
  • Valid E-mail Address
  • Valid Mobile Number
  • Bank Account Number
  • Bank IFSC

 

Documents

 

S.No. Documents File Size Format Maximum Allowable Size
1. Proof of Constitution of Business

  • In case of Partnership firm: Partnership Deed of Partnership Firm (PDF and JPEG format in maximum size of 1 MB)
  • In case of Others: Registration Certificate of the Business Entity
PDF or JPEG 1 MB
2. Photograph of Promoters/ Partners/ Karta of HUF JPEG 100 KB
3. Proof of Appointment of Authorized Signatory PDF or JPEG 1 MB
4. Photograph of Authorized Signatory JPEG 100 KB
5. Opening page of Bank Passbook/ Statement containing Bank Account Number of < Account Number>, Address of Branch,

Address of Account holder and few transaction details

PDF and JPEG 1 MB

 

In case you are unable to upload any document, check the Internet connectivity, file size and format of the document you are trying to upload.

12. What are the various modes for user authentication on the GST Portal?

There are three methods for user authentication on the GST Portal.

 

a. Digital Signature Certificate (DSC)

Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. A digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally. In India, DSC are issues by authorized Certifying Authorities.

The GST Portal accepts only PAN based Class II and III DSC.

 

To obtain a DSC, please contact any one of the authorised DSC-issuing Certifying Authorities: http://e-digitalsignaturecertificate.in

 

b. Electronic Signature (E-Sign)

Electronic Signature (E-Sign) is an online electronic signature service in India to facilitate an Aadhar older to digitally sign a document.

A One Time Password (OTP) will be sent to mobile phone number that is registered with Aadhar at the time of digitally signing documents at the GST Portal.

 

c. Electronic Verification Code (EVC)

The Electronic Verification Code (EVC) authenticates the identity of the user at the GST Portal by generating a OTP. The OTP will be sent to the mobile phone number of the registered mobile phone of Authorized Signatory filled in the Registration Application.

For More information, please fill the contact us form or whatsapp/call us at 8540099000, 8540085000, 8540078000 or email us at info@meerad.in

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