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GST (Goods and Service Tax)
In India there are two types of Taxes are levied. One is Direct Tax and another one is Indirect Tax. Goods and Service Tax (GST) is an indirect tax which is levy on manufacture, sale and consumption of goods as well as services at the national level. GST has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. Goods and Services Tax Law is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
There are three taxes applicable in GST
- CGST: It is the tax collected by the Central Government on an intra-state sale (e.g., a transaction happening within the state)
- SGST: It is the tax collected by the state government on an intra-state sale (e.g., a transaction happening within the state)
- IGST: It is a tax collected by the Central Government for an inter-state sale (e.g., a transaction is happening from one state to another state)
GST Registration applicable for:
CS CLUB INDIA help you to register your Business under GST if you fall under the following criteria:
- Businesses with turnover above the threshold limit (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand and Rs. 40 Lakhs for others)
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- e-commerce aggregator
- Person who supplies via e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
Documents Required for GST Registration:
- PAN of the Applicant (Individual/ Proprietor/ Firm/ Company)
- Aadhaar card (Individual/ Proprietor/ Authorised Person)
- Email ID of Individual/ Proprietor/ Authorised Person
- Phone No. of Individual/ Proprietor/ Authorised Person (preferably Phone no. should be link with Aadhar Card for faster procedure)
- 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