If you fail to Register for GST Registration any of the offenses are committed then a penalty will have to be paid under GST. The principals on which the penalty will be charged are also mentioned by indian law.
In Order to avoid any later issue you must get your business / proprietorship GST number at the earliest through this portal.
If you are running a business as a properitership/private limited/corporation dealing with sales of goods and services with annual turnover exceeding 20 Lakhs (except few states for which the amount is 10 Lakhs ) then you must get GST (Goods & Services Tax Number)
Fill the above form in this website with your business details
Step 1: Select your State & District
Step 2: Enter your business name and PAN number of your business (click here if you dont have pan number for business)
Step 3: If the details you have entered is validated then you will see, Your Application Verified Successfully, if you see this message click “Make Payment”
Step 4: Complete payment by paying fees of 1800 Rs. using debit card / credit card / net banking options
Step 5: After you completed the payment, you will receive a reference number to your mobile number.
Step 6: Wait for 24 hours to get your GST number
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Step 1: Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
Step 2: Businesses with turnover above the threshold limit of Rs. 20 Lakhs
Step 3: Casual taxable person / Non-Resident taxable person
Step 4: Agents of a supplier & Input service distributor
Step 5: Those paying tax under the reverse charge mechanism
Step 6: Person who supplies via e-commerce websites
Step 7: Every e-commerce aggregator running e-commece websites online
Step 8: Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
If you are running business in North-Eastern States J&K, Himachal Pradesh and Uttarakhand and your business annual turnover is below 10 Lakhs. You don't need to register for GST
A. For normal registered businesses:
1. You can take tax input credit
2. Make interstate sales without restrictions (e-way bill)
To learn full benefits of GST click here.
B. For Composition dealers:
1. Limited compliance for your business
2. Less tax liability for your business
3. If you running on High working capital
To know more about composition scheme click here
C. For businesses that voluntarily opt-in for GST registration (Below Rs. 20 lakhs)
1. Take input tax credit
2. Make interstate sales without restrictions
3. Register on e-commerce websites and do dealings
4. Have an advantage over other business who does not have GST
To know more about voluntary registrations click here
Step 1: FMCG Business GST
Step 2: Automobile Business GST
Step 3: Retail Business GST
Step 4: B2B (Business to Business)
Step 5: Agriculture
Step 6: MSME (how you can benefit)
Step 7: Gold & Jewellery
Step 8: GST for Education Services
Step 9: Impact on GST on Real Estate
Step 10: Sole Proprietorship GST
Please note that you can also register a voluntary registration for GST, This voluntary registration can be cancelled after one year of its registration.
What is Composition scheme in GST?
If you run a Small businesses with annual turnover less than Rs. 1 crore* ( Rs. 75 Lakhs for NE States) can opt for Composition scheme.
*GST Council decided to increase the limit to Rs. 1.5 crores but notification is awaited.
There are a variety of motifs which are coming up, and also the outdoors of this market determines over second 12-18 many weeks, shows Ravi Dharamshi, CIO, ValueQuest Funding Consultants (Market Makers). They spoke to help ETNow's Nikunj Dalmia.
Per all the MoU, all the Health Dept and even SLF would interact with each other to better damage attention systems. That SLF, be subject to availability of financial resources, would even support the Health Dept as a result of financing some interventions with damage care.
Greater Noida: Three medical students driving home from Agra were injured after their Hyundai Verna swerved off the Yamuna Expressway following a tyre burst and nosedived 25ft below in Dankaur area on Wednesday night.
As cost of diesel-powered raised Rs 1.30 the latest litre; light security involved with e-way monthly bill internet transportation system cross structure started; valuables tools via benefits, vehicles, items, common collections with body business avenues surged 10%, end user having to pay was missing all the way up noticeably significant thus received usage during metros, tier-I as well as -II cities.
These Superior Legally speaking associated with Kerala features performed in which practical mistakes inside adding Area P associated with E-Way Monthly bill may not be a good place pertaining to setting up besides penalization and even detention within CGST Act.
That may the goods and services tax (GST) is a recreation auto-changer to the basic economy is perhaps some of the most marketed offer with the new tax regime within the run-up to help it is implementation. Rrt had been desired of which lesser reliable taxation's, along with expanded complying, would definitely increase the speed of formalization, and arranged businesses would definitely gain distribute and tax collections would definitely surge.
A good critical visitors entangle has been created relating to the Mumbai -Pune Expressway out of 2am on the subject of The following thursday when any oil and gas release on a tanker in the vicinity of Amrutanjan fill in the vicinity of Lonavala.
Law enforcement articulate it's enactment will result in a great deal more accidents on the road The actual Maharashtra Status Streets Progress Firm (MSRDC) includes in contrast Centre's final choice to help improve speed restrictions for new or used vehicles on country's roadways as well as expressways. The actual moving human body affirms more significant speed limit will certainly add to the expanding wide variety of accidents relating to the Mumbai-Pune Expressway.
This unique is the word for ‘1 year concerning, GST is further along with improving'(August 13). There's no question which usually the GST Council is beyond accommodative towards up and coming wants of your world along with corporates during the last a single year. Sending healthful napkin in zero GST, towards minimising tax concerning several items to giving 20 per-cent procuring women paying GST through RuPay and also BHIM. Absolutely, quite a lot of her actions is often totally termed as populist merchandise online we have the latest place exactly where politics is hazardously when combined economics.
“To persuade folks to give up tobacco, it must possibly be easy on the pocket,” the person said. Gurus in addition tell you there is a rising pattern of folks paying for over-the-counter gum to give up tobacco.