GST in mandatory. Get registered before the window closes.
Goods & Services Tax (GST), to be rolled out on July 1, 2017, is an all-in-one tax that replaces the following taxes:
Businesses registered to pay any of the above-mentioned taxes are required to have a GST registration by the rollout date. For now, only provisional registration is being granted. It will take four to six working days for it to be approved once you submit the application along with the correct documents. The permanent registration will be granted some time over the next six months, or as specified by the central government.
GST is currently applicable to any business currently registered to pay the above-mentioned taxes. Transition to GST, in fact, began in November 2016 and was due to end on January 31, 2017. The GST Council has, however, continued to accept applications.
For now, all you need to do is apply for provisional registration. To begin the process, you need to get your provisional login ID and password. Once you have these, you simply need to submit a handful of documents and we’ll ensure that you have provisional registration at the earliest.
Incremental Tax:
Like VAT, GST is charged incrementally, at every step of the supply chain. It will also have complete set-off benefits and a composition scheme.
GST Rates:
The GST council has decided on a four-tier structure. The GST rate will depend on the type of goods and services. Currently, the slab rates are 5%, 12%, 18% and 28%. The rate for gold is yet to be decided, and will likely to be the lowest of all.
CGST & SGST:
GST will have a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST). Therefore, centre and state will levy GST on all entities. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the centre.
The GST migration process involves two initial steps: collection of the provisional ID and password and application for enrollment into the GST programme.
The tax department with which you are registered will provide you with your login details to the GST portal.
Once you have these details, you will need to send them to us, along with the following documents:
Once you provide us with the documents, we will enroll you into the GST programme. You will be able to track the progress of your application via the Acknowledgement Receipt Number (ARN) we will provide you with. Within four to six days, the GSTN will issue your business a provisional registration certificate. This certificate will be valid for six months or until the government recommends.
Within six months of receiving the provisional registration, registrants will be required to complete permanent registration. At this stage, certain additional documents may need to be provided. If all is in order, the GST Registration will be granted. If the details provided are found to be incorrect, provisional registration will be cancelled (you will, however, have the right to challenge this decision).
Enrolment is common, despite there being separate central and state taxes. In fact, not just registration, returns and challans for central and state GST will also be common.
No, only one GST registration in a state is allowed under a single PAN. Therefore, if you have several tax registrations under the same PAN, you would need to contact the jurisdictional authority to enroll the other verticals.
No, the exemption limit (of a supply turnover of Rs. 20 lakh) does not apply to existing VAT, service tax & central excise registration holders. All existing taxpayers must register under GST or prove that it does not apply to them.
In the unlikely situation that you need to withdraw, you would need to file an application in Form GST Reg-24.
It generally takes 4 to 6 working days for provisional registration to be granted. The application could be rejected if incorrect documents have been uploaded, or if it has been uploaded with the wrong DSC. However, you will be given the opportunity to make your case before the registration is cancelled.
We have helped over 140,000 start-ups and SMEs complete various registration and compliance procedures over the past five years.
You can submit documents and information online and get regular updates on your request. You can even check the status on your mobile.
Our support team has the expertise to tackle any problem that may arise during the process. We will also provide you with regular updates on GST.
We are a technology-driven platform organising the professional services industry in India. Our services cover all the legal needs of businesses, such as incorporation, government registrations & filings, accounting, documentation and annual compliances. We also offer a wide range of services to individuals, such as property agreements and tax filing. Over the past five years, we have worked with over 140,000 start-ups and SMEs, including well-known ones such as Taxi For Sure, Housing, Big Basket and Sulekha.