GST Registration Services Online

GST (Goods & Services Tax) the Indian economy has experienced quite an evolution. If you make income as an individual, you are also considered a taxable person under the GST framework. Maintain GST compliance and reap the rewards that come with it.

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All about GST Registration Online : Overview, Components, Process !

The Goods and Services Tax (GST), which came into effect on July 1, 2017, applies to all Indian service providers (including freelancers), traders, and manufacturers. The GST incorporates a number of central taxes such as Service Tax, Excise Duty, and CST, as well as state taxes such as Entertainment Tax, Luxury Tax, Octroi, and VAT. Furthermore, taxpayers with a turnover of less than 1.5 crore rupees can opt for a composition scheme to avoid time-consuming GST processes and pay GST at a fixed rate of turnover.

Every product travels through several steps of the supply chain, including sourcing raw materials, manufacturing, selling to a wholesaler, selling to a retailer, and finally selling to the consumer. Surprisingly, GST would be applied on all three phases. Assume a product is manufactured in West Bengal but consumed in Uttar Pradesh; the entire revenue will go to Uttar Pradesh.

Our services include, assist your business in adapting to GST implementation and meeting all compliance and registration needs, as well as providing expert advice.

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What is Goods & Services Tax?

The Goods and Services Tax (GST) is a destination-based tax levied on the supply of goods and services. It is levied at each stage or change of hand that an item goes through in its supply chain. Many indirect taxes, such as the service tax, central sales tax, Value Added Tax (VAT), excise duty, and so on, have been replaced or absorbed. The Goods and Services Tax Act was passed by the Indian Parliament in order to implement GST as a comprehensive indirect tax across the nation of India. This Act went into operation as of July 1, 2017.

What is GST Registration?

Businesses that have a turnover in excess of Rs.40 lakh, Rs.20 lakh, or Rs.10 lakh must register as a normal taxable person under the Goods and Services Tax (GST). It is referred to as GST registration. GST registration is also refers to the process of registering an entity in the GST regime.

GST registration is necessary for certain businesses. If a company conducts business without registering for GST, it is breaking the law and will face severe penalties.

GST registration usually takes 2-6 working days. Accubucks solution will help you obtain GST registration in a few easy steps.

What are GST Components?

According to the GST Act, each individual who conducts a business anywhere in India must obtain GST individual registration. This means that if you engage in any economic activity as an individual that generates income, you are considered a taxable person under the GST system. For example, if you work as a tax consultant and provide services in your own name, you must have GST for individual consultants.

GST is composed of three tax components:

The CGST is a central government tax.
The SGST is a state component. Where the central government and the state would charge GST on all entities for all transactions in the state
The IGST, which will be levied by the central government when a transaction occurs between states.

Who should apply for GST registration?

Individuals who are registered under Pre-GST legislation (e.g., Excise, VAT, Service Tax, etc.)
Businesses with a turnover of more than Rs.40 lakh, Rs.20 lakh, or Rs.10 lakh, as the case may be
Non-resident taxable person / Casual taxable person
Supplier's agents and input service distributors
Those who pay taxes through the reverse charge system
A vendor who sells through an e-commerce aggregator.
Each and every e-commerce aggregator
A person who provides online information and database access or retrieval services to a person in India who is not a registered taxable person.

What is a GST Certificate?

A Goods & Services Tax Certificate is a document issued by the Indian government to businesses that are registered for the Goods and Services Tax (GST). It acts as proof of the business's GST registration and includes information such as the GST identification number, name, and address. Businesses need to obtain a GST Certificate in order to charge and collect GST from customers. It is also used for a variety of additional purposes, including obtaining input tax credits, seeking loans, and participating in tenders.

What are the benefits of GST?

GST, a broad value-added indirect tax on both products and services, has contributed in market consolidation in India. GST's distinguishing features include:

Double Tax Structure:

Every sale of goods and services is subject to a centre tax and a state tax, known as the Centre GST (CGST) and State GST (SGST), respectively.

Interstate Purchases of Integrated GST (IGST):

Integrated GST (IGST) on interstate purchases, with revenue distributed evenly between the consumption state and the center.

Taxable supply made between two legal entities' locations:

There is a taxable supply of commodities between the agent and the principal. Employer's 'gifts' to employees in excess of 50,000 rupees are taxed.

All imports are treated as statewide supplies and so subject to the IGST. All exports are tax-free.

Administration of Taxes:

Despite the existence of an online tax system, GST Facilitation Centres, GSPs, and ASPs assist taxpayers with registration, submitting returns, and other tax-related chores.

Plan of Composition:

Businesses have lesser tax responsibilities under the GST regime's composition structure. These businesses must have a supply volume of less than 50 lakh and are not qualified for input credit. The plan, however, will not apply to businesses involved in interstate commerce or the service sector.

Documents Required for GST registration services:

PAN of the Applicant
Aadhaar card
Proof of business registration or Incorporation certificate
Identity and Address proof of Promoters/Director with Photographs
Address proof of the place of business
Bank Account statement/Cancelled cheque
Digital Signature
Letter of Authorization/Board Resolution for Authorized Signatory

Penalty for not registering for GST.

An offender who fails to pay tax or makes insufficient payments (true errors) must pay a penalty of 10% of the tax amount owed, subject to a minimum of Rs.10,000.

When the offender has purposefully avoided paying taxes, the penalty will be 100% of the tax amount owning.

Avoid penalty and get hassel-free GST registration services with Accbucks Solution

With Accubucks Solution, you can complete your GST registration online in a few easy steps.

Our professional GST experts will be in continual contact with you from the start and will assist you with obtaining the GST individual registration in a quick and easy manner.

Our representative will collect all of the information needed to submit the GST application from you.
Then, we will draft the application for you. The completed draft will be available for your review and correction.
We will file the application for you. Following the submission of the application, an Application Reference Number (ARN) will be generated, verifying the successful submission. It will be sent to your registered mobile number and email address. With the help of our specialists, you may use this ARN to verify the status of your GST registration applications.
Following submission, we will work with the appropriate authorities to expedite your application. We will also settle any associated GST department queries, while you simply relax and sit back!
Subject to satisfactory document verification by the authorities, you will obtain your permanent GST number within 7 working days of registering for GST registration. This number (known as the GSTIN or GST Identification Number) will now show on all invoices you submit or receive.

We will send your GST certificate to your email address. This certificate will include your GSTIN (15 digits).

FAQs on GST Registration Services

Question: Does GST apply to all businesses?
Answer: Yes, all service providers, manufacturers, and traders are subject to GST. It applies to all dealers, bloggers and writers, import-export firms, and all types of startups and corporations, including LLPs, sole proprietorships, partnerships, and private limited companies.

Question: What is GSTIN?

Answer: GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit alphanumeric identifier assigned to every registered taxpayer under the Goods and Services Tax (GST) regime in India. GSTIN helps the government and businesses track tax transactions and ensure compliance with GST regulations.

Question: Is GST required for interstate purchases?

Answer: Yes, GST is levied on interstate purchases. When a registered business in one state or Union Territory purchases goods or services from a registered supplier in another state or Union Territory, the interstate transaction is subject to Integrated Goods and Services Tax (IGST). This transaction is documented by the GST invoice and is an essential component of the GST system.

Question: Is it permissible for me to apply for several GST registrations?

Answer: If a taxpayer conducts business in more than one state, each state requires a separate GST registration. For example, if a vehicle manufacturer sells in both Karnataka and Tamil Nadu, he must apply for separate GST registration in both states.

Question: Is it possible to obtain numerous GST registrations within the same state?

Answer: Yes, a company can file for an unlimited number of GST registrations within a state. To facilitate business, the system of allocating numerous GST registrations specifically for distinct company sectors within a state has been eliminated.

Question: How many days will it take to get a GST number?

Answer: GST registration usually takes between 5-7 working days. references and evaluate their compliance with industry standards.