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GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and including multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. GST refers to Goods and Services Tax which includes all taxes such as Sales tax, Service tax, Excise duty etc. into GST.
GST registration is required primarily if your annual sales are more than Rs. 20 Lakh. As per the GST Council, entities in special category states with an annual turnover of Rs.10 lakhs and above would be required to register under GST. There are also various other criteria’s, that could make an entity liable for obtaining GST registration – irrespective of annual sales turnover. Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST.
The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission. You need to file your application with the department and sign it with your digital signature. GST Registration can be done through Herambindia in Delhi NCR, Mumbai, Bengaluru, Chennai and other Indian cities.
Get a free consultation on GST and GST return filing by scheduling an appointment with an HerambIndia Advisor.
You are required to give some information for GST Registration and email documents.
On placing order, your application is assigned to one of our dedicated professional.
Our team will file your Goods and Service Tax Registration Application online.
Provide you ARN over the email and provide you GST Certificate obtained from government web-portal.
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000. The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.
Registration under GST is mandatory for entities undertaking inter-state supply of goods and/or services, irrespective of aggregate annual turnover. For example, if a business in Maharashtra supplies goods to a business in Karnataka, then GST registration is required.
Entities involved in supplying of goods or services with an annual aggregate turnover of more than Rs.20 lakhs in most States are required to register for GST mandatorily. In special category states, the aggregate turnover criteria has been reduced to Rs.10 lakhs.
All entities having service tax or VAT or central excise registration must be registered under GST mandatorily. Existing taxpayers have been provided with Provisional ID and password for completion of GST migration formalities and generation of GSTIN by the respective tax departments.
A casual taxable person is someone who occasionally undertakes supply of goods or services having no fixed place of business. An example of a casual taxable person can be a fireworks shops setup during Diwali festival time, selling fireworks or a temporary food stall.