Goods and Services Tax is an indirect tax imposed by the government on Indian Goods and Services. It is a value-added tax levied on most goods and services sold for domestic and commercial consumption.
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Goods and Services Tax is an indirect tax imposed by the government on Indian Goods and Services. It is a value-added tax levied on most goods and services sold for domestic and commercial consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. The taxes under GST are bifurcated into three parts i.e. CGST, SGST and IGST.
Legal Window ensures you the high level of satisfaction and timely delivery of GST Registration Certificate and better dealing with the requirement of government through its expert professionals. You may get in touch with our team on 072407-51000 or email [email protected] for GST registration in Jaipur and GST Compliance services.
GST registration is a very simple and online mechanism and can be done with the help of our expert advice. The GST Registration is permanent and does not requires any renewal and can be cancelled when not required.
Under GST the supplier becomes eligible to take credit of the GST paid by him to the earlier suppliers This in turn reduces the cost of the goods and services supplied to the ultimate consumer.
GST composition scheme is a tax paying mechanism offered to small businesses. When compared to normal GST filing, the composite scheme offers two main benefits i.e. reduced paperwork, compliance and lower tax liability.
Under GST the compliance level is lower and has a unified return system. There is a proper online mechanism under which you can easily upload your data and file your returns without any hassle.
Supplier of Goods (Turnover Exceeding Rs. 40 Lakhs): Business having Aggregate turnover of more than Rs. 40 lakhs during financial year needs to take GST registration with terms and conditions (Rs. 20 lakhs for North Eastern states and Rs. 10 Lakhs in special category states).
Supplier of services: Aggregate turnover of more than Rs. 20 lakhs during financial year needs to take GST registration (Rs. 10 lakhs for North Eastern states).
Registered under Previous Indirect tax: Businesses registered under any previous indirect tax law.
Interstate supply of Goods and Services: If the entity deals in Inter-state supply of Goods and Services, needs to apply irrespective of the Turnover limit.
Input Service Distributor: An Input service distributor (ISD) is a business which receives invoices for services used by its branches. It distributes the tax paid, to such branches on a proportional basis by issuing an ISD invoice.
Casual taxable person: Casual taxable person is the one who occasionally supplies goods and/or services in a territory where GST is applicable but he does not have any fixed place of business such person is also required to get registered its business under GST.
Non-Resident taxable person: Non-Resident taxable person is a person who is not resident of country having GST and supply Goods and Services in such territory is required to get registered its business under GST.
Reverse Charge Mechanism (RCM): Businesses who need to pay taxes under the RCM.
E-Commerce operators and Vendors: Every e-commerce portal and vendors who are selling their products online.
Note: Special states Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttarakhand.
Fill the questionnaire provided by our team.
Provide us all the documents as per the category of your business mention above.
We will file the application GST registration and obtain the OTP from you as required.
Within 2-3 days after the submission of the application, and after the approval by the department we will send you the GST Registration number and User Id and Password to access the online portal.
A person who is not mandatorily required to take Goods and Services (GST) registration as prescribed can take registration voluntarily and file the returns accordingly. That means Small businesses with turnover less than Rs. 20 lakhs /Rs. 40 lakhs who are not covered under mandatory category for GST registration can voluntarily register under GST. That gives you all GST benefits and comply with all the GST Regulations.
Input Tax Credit or ITC is the tax that a supplier pays on a purchase of such goods and services that are used in business and that can reduce tax liability of supplier when supplier makes a sale of finished goods and services. In other words, businesses can reduce their tax liability by claiming credit to the extent of GST paid on purchases of Inputs used to make taxable supply of Goods and Services. Supplier can get Input Tax Credit (ITC) only for those goods used in business to make taxable supplies that means supplier cannot take credit of:
Taxpayer having turnover below Rs. 1.5 crore can opt for Composition Scheme. Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be availed by any taxpayer whose turnover is less than Rs. 1.5 crore. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs. 75 lakh.
Person that cannot opt for the composition scheme: Manufacturer of ice cream, pan masala, or tobacco.
A person making inter-state supplies.
A casual taxable person or a non-resident taxable person.
Businesses which supply goods through an e-commerce operator.
Taxpayers registered under composition schemes have to pay a nominal amount of GST and cannot take credit of input tax paid on purchase of goods and services.
Condition of Composition scheme: The dealer cannot supply GST exempted goods.
The taxpayer has to pay tax at normal rates for transactions under the Reverse Charge Mechanism.
No Input Tax Credit can be claimed by a dealer opting for composition scheme.
The taxpayer has to mention the words "composition taxable person" on every notice or signboard displayed prominently at their place of business and on every bill of supply issued by him.
If a taxable person has different segments of businesses (such as textile, electronic accessories, groceries, etc.) under the same PAN, they must register all such businesses under the scheme collectively or opt out of the scheme.
Reverse charge mechanism: Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services that means under reverse charge mechanism (RCM), liability to pay tax shifts from supplier to recipient.
Services liable for Reverse charge provided by: Any person who is located in a non-taxable territory.
Goods Transport Agency (GTA).
An individual advocate or firm of advocates.
Government or local authority.
Sponsorship services.
Author or music composer, photographer, artist, etc.
Central Government by its notification notified such goods and services liable for reverse charge.
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