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What is GST?

Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country.

Why GSTIN?

GST helps to build a transparent and will increase efficiency in tax administration. It has only three accounts; CGST, SGST, IGST have to be maintained. So it is a Simplified and cost saving system as procedural cost reduces due to uniform accounting for all types of taxes.

Documents Required for Goods and Services Tax (GST) Registration

Documents Required For Proprietor

  1. PAN Card of Proprietor
  2. Aadhaar Card of Proprietor
  3. Photograph of Proprietor

Documents Required For Firm

  1. PAN Card of the Partnership Firm
  2. Partnership Deed
  3. PAN card, Photograph and Aadhaar card of all Partners
  4. Proof of appointment of authorized signatory- Letter of Authorization (Format will be provided by us)

Documents Required For Private Limited / Public limited / One person company / LLP

  1. PAN Card of the company
  2. Certificate of Incorporation / Registration Certificate of the company
  3. PAN card, Photograph and Aadhaar card of all Directors
  4. Proof of appointment of authorized signatory- Letter of Authorization (Format will be provided by us)

Documents Required For HUF

  1. PAN card of HUF
  2. Photograph, Pan Card and Aadhaar card of Karta
  3. HUF Affidavit (Format will be provided by us)

Documents Required For Society or Trust or Club

  1. Pan Card of society/Trust/Club
  2. Registration Certificate
  3. Photograph, PAN Card and Aadhar of Promoter/ Partners
  4. Proof of appointment of authorized signatory- Letter of Authorization (Format will be provided by us)

Address Proof of Business

Own Office

  1. Copy of Latest Electricity Bill/ Municipal Khata Copy/ Latest Property Tax Receipt / Property Documents (Any 1)

Rented Office

  1. Rent agreement
  2. Copy of Latest Electricity Bill/ Municipal Khata Copy/ Latest Property Tax Receipt / Property Documents (Any 1)

Consented Office

  1. No objection certificate (NOC) from the owner (Format will be provided by us)
  2. Copy of Latest Electricity Bill/ Municipal Khata Copy/ Latest Property Tax Receipt / Property Documents (Any 1)

Bank Details

  1. Copy of Cancelled Cheque / Latest Bank Statement / First Page of Passbook (Any 1)

Benefits of GST

  1. GST envisages all transactions and processes to be done only through the electronic mode, to achieve a non-intrusive administration. This minimises the taxpayer's physical interaction with tax officials.
  2. Taxpayers with a turnover of less than Rs.1.5 crore can opt for composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
  3. GST provides for the facility of auto-populated monthly returns and annual return.
  4. It also facilitates taxpayers by prescribing grant of refund within 60 days, and provisional release of 90 per cent refund to exporters within 7 days.
  5. Further facilitation measures include interest payment if refund is not sanctioned in time, and refund is to be directly credited to bank accounts.
  6. Comprehensive transitional provisions for ensuring smooth transition of existing taxpayers to GST regime, credit for available stocks, etc.
  7. Other provisions include system of GST compliance rating, etc.
  8. Anti-profiteering provisions for protection of consumer rights: Any benefit by way of reduction in rate of tax or increase in input tax credit arising due to introduction of GST are passed on to customers by way of commensurate reduction in sale prices of products and services.
  9. Under the GST regime, exports are zero-rated in entirety, unlike the earlier system where refund of some of the taxes did not take place due to fragmented nature of indirect taxes between the Centre and states.
  10. GST is largely technology-driven and reduces the human interface to a great extent
  11. GST is believed to have improved ease of doing business in India.
  12. Helps a person to be legally recognized as supplier of goods or services.

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