What is GST?

The Prime Minister approved “The constitution amendment bill for Goods and Service Tax”(GST) in the Parliament Session (Rajya Sabha on 3 August 2016 and Lok Sabha on 8 August 2016) along with the ratification by 50 percent of state legislatures. Thus the current indirect taxes levied by state and centre are all set to be replaced with proposed implementation of GST by April 2017. This would be the biggest tax reform since independence and a boon to the economy as it will eradicate the shortcomings of the current tax structure and provide a single tax on supply of all goods and services.

The Prime Minister approved “The constitution amendment bill for Goods and Service Tax”(GST) in the Parliament Session (Rajya Sabha on 3 August 2016 and Lok Sabha on 8 August 2016) along with the ratification by 50 percent of state legislatures. Thus the current indirect taxes levied by state and centre are all set to be replaced with proposed implementation of GST by April 2017. This would be the biggest tax reform since independence and a boon to the economy as it will eradicate the shortcomings of the current tax structure and provide a single tax on supply of all goods and services.

Benefits of Register Under GST :

☞ Eliminating cascading effect of taxes.

☞ Tax rates will be comparatively lower as the tax base will widen.

☞ Seamless flow of Input tax credit.

☞ Prices of the goods and services will fall.

☞ Efficient supply change management.

☞ Promote shit from unorganised sector to organised sector.

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GST Registration Process

You can use LegalRaasta services for GST registration or you can do the registration via the GST portal portal yourself. To register for GST via LegalRaasta, you just need to make online payment and we will take care of the rest. To register yourself, you can follow the following steps:

☞ Log in to the online GST Portal (www.gst.gov.in).

☞ Fill Part-A of Form GST Registration form 1

☞ You will receive an application reference number on your mobile and via E-mail.

☞ You will then need to fill the second part of the form and upload the required documents

     according to the business type

☞ Finally a certificate of registration is issued to you by the department

☞ In case of errors and questions, you may need to visit the department

☞ Produce the documents within 7 working days along with GST REG-04.

☞ The office may also reject your application, if he finds any errors. You will be informed in form     GST REG-05 of GST registration regarding the same.

You can use LegalRaasta services for GST registration or you can do the registration via the GST portal portal yourself. To register for GST via LegalRaasta, you just need to make online payment and we will take care of the rest. To register yourself, you can follow the following steps:

☞ Log in to the online GST Portal (www.gst.gov.in).

☞ Fill Part-A of Form GST Registration form 1

☞ You will receive an application reference number on your mobile and via E-mail.

☞ You will then need to fill the second part of the form and upload the required documents

     according to the business type

☞ Finally a certificate of registration is issued to you by the department

☞ In case of errors and questions, you may need to visit the department

☞ Produce the documents within 7 working days along with GST REG-04.

☞ The office may also reject your application, if he finds any errors. You will be informed in form     GST REG-05 of GST registration regarding the same.

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Who all need to get GST registration? 

A business entity that is currently registered under any of the existing tax regimes then it is compulsorily required to migrate under GST law irrespective of the threshold limits.The following central and state level tax regimes will end with introduction of Goods and Service Tax (GST)

  • Central Excise duty

  • Service Tax

  • State VAT

  • Central Sales Tax

  • Entry Tax (all forms)

  • Luxury Tax

  • Entertainment and Amusement Tax (except when levied by the local bodies)

  • Purchase Tax

  • State Surcharges and Cesses so far as they relate to supply of goods and services

  • Taxes on lotteries, betting and gambling

But if you are supplying goods and services and not registered under any existing tax legislative then you are liable to register only if the aggregate turnover in any financial year exceeds the threshold limit. The existing threshold limit specified by the GST council is 20 lakhs for all the states except for North Eastern States where the limit is 10 lakhs.

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