GST Facts

GST Registration is mandated for certain persons.  There is a list of documents that are mandatorily required at the time of registration. Following are the 10 things needed for GST registration: Valid PAN (Permanent Account Number). Valid Indian mobile phone number. Valid email address. Jurisdiction details Valid bank account number from India. IFSC Number of the same bank and branch. At least one Partner/Proprietor/Director/Trustee/Karta/Member with corresponding PAN An authorised signatory who is an Indian resident with valid details including PAN. Place of business Prescribed documents and information on all mandatory fields of the Registration Application. Click to Tweet this INFOGRAPHIC Note: this information is only a presentable data retrieved from the below mentioned sources. Please read the guidelines from the gst.gov.in website before proceeding. Source: https://tutorial.gst.gov.in/userguide/registration/#t=faq.htm https://tutorial...

GST implementation mandated registration for certain persons. There are some abbreviations one has to be aware of at the time of registration. The following is a curated list that one can refer to anytime. Not only for the registrants, but also anyone who is interested in knowing the details of GST. Related: What is GST - Details of GST explained in Simple Terms Following are the 17 Important terms and abbreviations necessary for us to be aware of ARN - Application Reference Number CBEC - Central Board of Excise and Customs FLLP - Foreign Limited Liability Partnership GST - Goods and Services Tax LLP - Limited Liability Partnership OTP - One Time Password VAT - Value Added Tax CGST - Central Goods and Services Tax IGST - Integrated Goods and Services Tax SGST - State Goods and Services Tax UIN - Unique Identity Number UTGST - Union Territory Goods and Services Tax Act SEZ - Special Economic Zones ISD - Input Service Distributor CTP - Casual Taxable...

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GST Benefits, Rates Explained Goods and Services Tax is an indirect tax implemented on July 1st, 2017 throughout India. This replaced all the existing taxes that governed Goods and services across India. These were collectively called as cascading taxes levied by the State and Central Governments. This Act is formulated and governed by the GST Council whose Chairman is the Finance Minister of India. What taxes did GST replace: GST replaced several existing taxes including: services tax, customs duty, surcharges, octroi, central excise duty, inter-state transportation of goods. There are 4 different GST rates: 0%, 5%, 12%, and 18%. There is also a special rate of 0.25% on rough precious and semi-precious stones. The GST rate on Gold is 3%. In addition a cess of 15% or other rates on top of 28% GST applies on some items that aren't used by everyone in the society like aerated drinks, luxury cars, and tobacco products. What are the GST Rates on differen...

GST Registration Mandates Here's a quick checklist of all kinds of bodies who are mandated for GST registration. This can be a checklist of sorts for you to validate and verify if you are a business owner or any type of person* as mentioned below. GST registration is mandatory for the following persons* given under Chapter VI. Any person with a turnover (within a financial year) that exceeds Rs. 20 Lakhs . This limit is Rs. 10 Lakhs for North Eastern and hill States). In case your business covers only GST exempted goods or services then this clause is exempted too. Any person already registered under previous tax regimes/laws such as Excise, Customs, VAT, Service Tax, etc. must register under GST too. Any person conducting inter-state taxable supply of goods and/or services. Any casual person who occasionally supplies goods and/or services in a region where GST is applicable but the person doesn't have a fixed place of business in the region. The region, if is w...