GST or Goods and Service Tax is a kind of indirect tax for India and applicable on the supply of products and providing of services. It is a comprehensive and multi-staged assessing; comprehensive because it has subsumed all the indirect taxes except a few and multistage because it is implicated at every step within the generation prepare. It is supposed to be discounted to all the parties within various stages of generation except the ultimate consumer.

Yes, it is mandatory to pay GST for all the tax payers who is registered under GST regime.

The full form of CGST– Central Goods and Service Tax | SGST– State Goods and Service Tax | IGST– Integrated Goods and Service Tax

CGST and IGST are levied by Central Govt. and SGST is levied by State Govt.

CGST and SGST are paid for Intra-State Supply and IGST is paid for inter-State supply.

Goods and Services are categorized into five categories of tax slabs for collection of tax- 0%, 5%, 12%, 18% and 28%.

IN case of delay in GST filing, the penalty of Rs. 200/- is charged per day. There is no late fee charged in IGST.

When GST Return is not filed, then 10% of the due tax will be the penalty amount or Rs. 10000, whichever is earlier.

When someone commits fraud, then there will be a penalty which is 100% of the due tax or Rs. 10000 – whichever is earlier.

composite Scheme is a easy process under the GST law for all the taxpayers who can avoid difficult formalities pay the GST at a fixed rate based on the turnover. The taxpayers, whose revenue is less than Rs. 1 crore, can opt for this scheme. But recently the CBIC announced the increase the threshold limit from Rs. 1 crore to Rs. 1.5 crores. In case of North eastern states and Himachal Pradesh, the limit is now Rs. 75 lakhs. The GST rate under the composite scheme is only 1 % of the annual turnover in case of the manufacturer or traders of products.

In case of sale of goods, if the business exceeds 40 lakhs, in case of service provider if it exceeds 20 lakhs, and in case of Special category states if it exceeds 10 lakhs, then one has to register for GST.

A person liable for GST registration must apply for the GST within 30 days from the date he becomes liable for GST.

PAN is mandatory for general taxpayers and also the casual taxpayers entitled under GST.

An entity operating in multiple states will have to register separately for each state from where supplies of goods or services take place.

Once the GST Certificate is issued, the registration is valid until it is surrendered, cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a limited validity period.

Casual taxable person is one who occasionally undertakes transaction within a taxable territory where he does not have a fixed place of business.

When a taxable person resides outside India to undertake the transaction occasionally in the country and does not have a fixed place of business in India, he/she is a non-resident taxable person.

GST certificate is provided in soft copy format by Govt. of India. After the allotment of GSTIN, GST certificate can be downloaded from the GST portal at anytime by the applicant.

You need to register within 30 days since your liability arises.

ARN stands for Application Reference Number. It is a proof of successful submission of the application to GST servers. It is generated after TRN or Temporary Reference Number and uploading of required documents.

HSN or SAC code refers to Goods and Services code. At Online Legal India, the GST expert helps you to choose the suitable HSN or SAC Code after getting the details about the business.

Under the GST regime, only one registration is allowed against one PAN. But when a business is operated in more than one state must have separate GST numbers for each state. Businesses with multiple verticals within a state need to register for each of the verticals.

The exemption limit is a supply turnover of Rs. 20 lac for businesses in all except for the Indian states in the northeast region. Businesses in Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland, and Tripura must get a GST registration if their supply turnover exceeds Rs. 10 lac. As mentioned above, this threshold limit applies only to businesses that operate within their home state. A business that conducts trade with another state must seek registration regardless of turnover.

If you are handling your business from your home, then you can register the residential address with the GST. It requires only the address proof such as electricity bill, NOC, sale deed or link agreement.

After applying for the GST registration, each month you have to raise GST invoice for your customers or clients and charge proper GST amount to them.

We require the copy of utility bill or NOC from the landlord in case of rented place. NOC format will be share by our company during registration process.