GST - Fiwin Legal Consultancy & Certification LLP

GST

Now apply for your GST from your place quickly and easily.

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    How GST Works?

    • Get GSTIN

      We get you to get a GST Number for your business

    • GST Application

      Now it is easy for you to get your GST from your place at your convenience.

    • Filing Returns

      Filing returns and completing all other compliances is a quick job when needed.

    GST Overview

    GST is also known as Goods & Services Tax is launched on July 1, 2017 is a tax scheme applies to all service providers in India consisting of traders, manufacturers, and freelancers. Different types of taxes covered like service tax, excise duty, CST, and state tax like entertainment tax, luxury tax, octroi, and vat merged under one tax scheme that is GST.

    A taxpayer with a turnover of less than 1.5 Crore can opt for a composite scheme for relaxation from GST and pay their GST on a fixed slab of turnover.

    GST typically takes between 2-6 working days. You need to file your application with the department and sign it with your digital signature

    What is GSTIN (Goods And Services )

    A GSTIN is a “Unique Identification Number” given to a GST taxpayer. A person who has a GST number can verify their GSTIN details online.

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      1.svg

      Aadhaar Card

      2

      Address proof of the place of business

      3

      Bank account statement/cancelled cheque

      4

      Address proof of Promoters/Director with photographs

      5

      Digital Signature

      6

      Proof of business reg.

      7

      Letter of Auth./Board Resolution for Auth. Signature.

      8

      PAN Card of the Business or Applicant

      You can legally collect taxes from your customers and pass on the Tax Benefits to suppliers.

      Becomes 100% tax compliance for your business.

      Increase profits by claiming input tax credits on your paid purchases.

      GST number is mandatory to start online payment gateways and mobile wallets.

      You can expand business in various ways online, import-exports.

      It is easy to apply for different states, and central tender is with GSTN.

      GST adds the benefit as a document when opening current and business accounts.

      Types Of GST

      There are two types of GST:

      Composition:

      This scheme is for small taxpayers to ease tax compliance. It allows eligible payers to pay a certain percentage of their annual revenue in the form of tax. For example, small retailers, eateries, and trading businesses. it enables taxpayers/businesses to collect taxes along with these benefits:

      • File quarterly return one time.
      • It gives the business advantage by paying lower taxes.
      • Account books are easily maintainable as per GST Norms.
      Eligibility criteria for under GST Composition:

      Must be a Registered Taxpayer with an annual turnover of less than Rs 1 Crore. Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.

      Casual Taxable Person:

      The individual who supplies taxable goods and services occasionally needs to register as a casual taxable person before providing any goods and services need to register as casual taxable person. For Example, Mr.Raj has a consulting business that provides services in different states, so he needs to register as a casual taxable person to comply with the tax norms of that particular state.

      FAQ

      Every person shall be liable for registration under GST whose businesses turnover exceeds Rs. 40 lakhs. Then only is required to register as a normal taxable person. However, for north eastern states, the turnover limit is Rs 10 lakhs.This process of registration is called GST registration.

      Registration for certain business under GST is mandatory. If such business is not registering under GST is an offence and it is a punishable offence and heavy penalty will be imposed.

      For GST registration eligibility, the person must have valid pan card number.

      Its takes 2 to 6 working days for GST registration.

      • Firstly you login to the online GST portal

      • Secondly you fill the form A 

      • Thirdly then you receive an application reference number on your email-id and mobile

      • Fourthly afterward fill the second part of the form and upload all the required doc.according to the requirement and the business types

       

      • PAN of the Applicant

      • Identity and Address proof of Promoters/Director with Photographs

      • Address proof of the place of business • Aadhaar card

      • Proof of business registration or Incorporation certificate

      • Bank Account statement/Cancelled cheque

      • Digital Signature

      • Letter of Authorization/Board Resolution for Authorized Signatory

      It is mandatory for businessmen to register for GST whose turnover exceeds Rs 40 Lakhs,reg. should also be done by the following entities-

      • Individuals who are paying taxes under the reverse charge mechanism. Reverse charge is a mechanism where recipients of goods/services have to pay the GST.

      • If any individual is supplying online information to anyone, who is a non-taxable person in India.

      • Any individual who has reg. under the Pre-GST law of Exercise, VAT or Service Tax.

      • Individuals who are supplying inputs through e-commerce aggregators. Agents of supplier and input supply distributor

      Following steps are as given below: In first step you have to login ACES portal using user id and password which already existing. In second step you either follow the link to get provisional ID and password or navigate using the MENU. In third step make a note of id amd password which is provided After obtaining the provisional ID and password, you logon to the GST PORTAL by using ID and password.

      Once the application is made for under Goods & Service Tax Act, the competent officer shall verify the application submitted and on his/her satisfaction, the officer issues the of under GST in soft copy. The issued also mentions the GSTIN allotted to the applicant.

      Modes are as follows: • Internet banking • NEFT or RTGS

      It is a mandate issued by Govt. of India who basically try to save tax and keep oneself from the cascading effect of tax.

      Electricity bill or NOC from the landlord in case of rented place is required as a place of business proof.