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Apply online for GST Registration, Get GST number and make your Business GST Complaint at MeraLegal 's lowest and most affordable fees.
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GST Registration Step-by-Step Guide
What is GST Registration Services tax? GST refers to the goods & services tax. This is considered the country's biggest indirect tax reform. This order replaced various indirect taxes that existed in India before. GST's history started two decades ago in India, and was made effective in 2017. History of GST will assist you under the advantages of Goods and Services Taxes and the benefits over other type of taxes. GST is an indirect tax to be imposed on sale, production, consumption of goods, and services. A single tax is to be imposed on the supply of goods and services supplied from suppliers to the consumers. With the establishment of this new order, India has become a centralized market with only one indirect tax. www.MeraLegal.Com
Components of GST Company Because GST is a tax levied on a destination such as an end-user who purchases a tax is liable to pay the tax on goods and services. The tax shall be paid by the receiving State of the goods and services. The state that produces the goods & services will not have to pay the Tax. In the case of Exports, the seller of the goods and services is freed from paying the tax. GST eliminates the bad effect of tax i.e. tax on tax and that's exactly where the concept of CGST, IGST, and SGST came into the picture. www.MeraLegal.Com
Components of GST Company Central Goods and Services Tax (CGST) Under GST, CGST is a Tax implemented by Central Government on Goods & Services within a common state known as intra-state supplies. It is administered by the CGST Act. On the other hand, SGST will also be imposed on the same intranet supplies, but it will be controlled by the Government of the State. This means that both the central and state government is ready to impose their acts with a suitable symmetry for revenue. www.MeraLegal.Com
Components of GST Company State Goods & Services Tax (SGST) State Goods & Services Tax (SGST) SGST is a Tax levied on Intra-state supplies of both Goods & Services by State Government in the same way CGST is a Tax imposed on Goods & services supplied in the same state but will be regulated by the Central government. Integrated Goods & Services (IGST) Under GST, IGST is a tax levied on Goods & Services that are furnished at the inter-state level and will be regulated by the IGST Act. IGST will be applicable in both cases, whether the importing of Goods & services in India and exporting of Goods & Services out of India. www.MeraLegal.Com
Who is Liable to pay GST? GST is a tax entirely based upon consumption. The customer ends up paying GST. But it was made mandatory for businesses to collect GST from the consumer and pay to the Government. Consequently, in addition to the cost of the products, business people will impose a GST tax on the consumer. If the GST is collected, companies are expected to file monthly GST returns and cancel the GST tax collected until the next month's 20th. www.MeraLegal.Com
What is the GST registration? Businesses whose turnover passes Rs. 40 lakhs is expected to consider as a normal taxable person. For opening an individual business registration of GST is mandatory. If the business is carried out without registering under GST, it will lead to fines and will be an offense under GST. GST registration usually takes 3-6 days working for the process of registration. www.MeraLegal.Com
What are the documents required for GST Registration? • Pan card of the applicant • Adhaar card • Address proof of Directors along with the photograph • Proof of business registration. • Letter of Authorization. • Bank account statement or a canceled check. • Digital signature www.MeraLegal.Com
Procedure for Registration of the Company Thank You !! Visit Our Site : https://MeraLegal.Com www.MeraLegal.Com