Thursday, 20 July 2017

GST Registration

In the present scenario GST is a reality now. GST is going to subsume most of the indirect taxes of our country such as Central Excise, Service Tax, VAT & CST, Entry Tax, etc. and would bring in significant amount of change in way of doing business.
Registration process in GST include
1. Furnish/File necessary forms, documents etc
2. Sign with Digital Signature/E Signature
3. Approval from the Govt./ Tax Department
4. Person will be recognized as legally registered taxable person

GST Centre

Registration under Goods And Service Tax (GST) regime will confer following  advantages to the business:

1. Legally recognized as supplier of goods or services.
2. Proper accounting of taxes paid on input goods or services which can be utilised for payment of         GST due on supply of Goods or Services or both by the business.
3. Legally authorised to collect tax from his purchasers and pass on the credit of the taxes paid on the     goods or services supplied to purchasers or recipents.
4. A person without GST transaction can neither collect GST from his customers nor claim any input     tax credit of GST paid by him.

Persons Liable to take registration

1. General/Normal Category:- Who has to take registration based on aggregate Turnover. They need       to register only when the total turnover for the financial year exceeds the threshold limits.
2. Mandatory Category:- Who has to compulsarily take registration irrespective of the turnover               Threshold limits are not applicable to them
3. Exempted Persons:- Those who need not take registration. But they can take voluntary registration      if needed.
4. Transitional Registration:- All taxable persons who have registered under the existing laws should       be registered under the GST Act throught Enrolment process.

For more Details, Visit our website : https://www.gstcentre.in

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