GST REGISTRATION IN RANCHI, JHARKHAND
Goods and Services Tax(GST/GST Registration) bill is India’s biggest reform in India’s indirect tax structure which came into effect from July 1, 2017 . The purpose of bill is to introduce one single tax on supply of goods and services, from the manufacturing stage until its delivery to final consumer. Now you can get GST registration in Ranchi for your business at an affordable price.
GST aims to streamline the taxation structure in the country and replace indirect taxes with a singular GST to simplify the taxation procedure. The tax rates, rules and regulations are governed by the GST Council which consists of the finance minister of central and all the states. GST tax rates vary from 0% – 28% depending on the type of service or Nature of Goods Your business is selling. The GST is paid by consumers, but it is remitted to the government by businesses selling goods and services. In effect, GST provides revenue for the government.
ELIGIBILITY FOR GST Registration in Ranchi
Who Need To Apply For GST Registration in Ranchi ?
Sonasis India Provides GST Registration in Ranchi @ Rs. 699/-
Upon Reaching Turnover of 40 Lakhs:
If your current supply of goods is over Rs. 40 lakhs or supply of service is over Rs. 20 lakh, you need to obtain GST Registration (if your business operates exclusively in the North Eastern states, Rs. 10 lakh).
E-commerce operator:
Who owns, operates of manages digital platform for e-commerce. Ex: Flipkart, Amazon, Zomato, Swiggy or own e-commerce platform( For book, cloth, food, shoes) etc.
Inter-State Sales or Service provider:
Anyone supplying goods or services to another state, need to apply for GST regardless of turnover. Even online service provider serving customers in another State will instantly attract GST registration.
Non- Residents & Importers:
Any Non-resident person or company supplying goods or services in India need to take the registration regardless of turnover.
Supplier of Online Information:
Any person supplying online information and database services from outside India to a person in India need to register irrespective of turnover.
DOCUMENTS REQUIRED FOR GST Registration in Ranchi
PROPRIETORSHIP:
- 1. PAN Card,AADHAR Card,Photo
- 2. Registered Office Address Proof
- 3. Rent Agreement/Ownership Document
- 4. Copy of Electricity Bill/Landline Bill/Water Bill
PARTNERSHIP:
- 1. PAN Card, AADHAR Card, Photo
- 2. Registered Office Address Proof
- 3. Rent Agreement/Ownership Document
- 4. Copy of Electricity Bill/Landline Bill/Water Bill
- 5. PAN Card of Partnership
- 6. Partnership Deed & Authorization Letter
LLP:
- 1. PAN Card,AADHAR Card,Photo
- 2. Registered Office Address Proof
- 3. Rent Agreement/Ownership Document
- 4. Copy of Electricity Bill/Landline Bill/Water Bill
- 5. PAN Card Of LLP
- 6. Registration Certificate of LLP
- 7. LLP Partnership Agreement
- 8. Copy of Bank Statement of LLP
- 9. Copy of Board Resolution
PVT.LTD/OPC:
- 1. PAN Card,AADHAR Card,Photo
- 2. Registered Office Address Proof
- 3. Rent Agreement/Ownership Document
- 4. Copy of Electricity Bill/Landline Bill/Water Bill
- 5. PAN Card Of Company
- 6. Registration Certificate of Company
- 7. MOA/AOA
- 8. Copy of Bank Copy of Board Resolution
PROCESS OF GST Registration in ranchi
1.Fill up our form and submit. Our executive will call you.
2.Arrange the basic documents.
3.Make Payment.
4.Sonasis will start your GST Registartion process.
5.Get your GST Number with 4-5 working days.
BENEFITS OF GST REGISTRATION IN RANCHI
1.You can legally collect taxes from your customers and pass on the Tax Benefits to suppliers.
2.Business Becomes 100% tax Compliant
3.You can Claim Input Tax Credit which you have paid on your purchases and improve profits.
4.GST certificate can be used as one of the documents while opening current account or Business Account.
5.You can easily apply for various states and Central Government tenders if you have GSTN.
6.Expand your business through various channels like Online, Import-Exports
To start payment gateways and use mobile wallets GST number is used.
WHAT ARE DIFFERENT TYPES OF GST REGISTRATION IN RANCHI?
For the filing of GST, transactions need to be classified depending on the type of customer to whom the sale is done. Following are the two different types of GST registration:
A. Registration Under Composition Scheme:
The Composition Scheme is for the small taxpayers in order to ease the tax compliance for them. This scheme allows eligible taxpayers to pay a percentage of their yearly revenue as a tax. Like small retailers, eateries and trading businesses. This will relieve the taxpayers/ businesses from collecting taxes from their customers directly and adds benefits as mentioned below:
1.File Single Quarterly return, not multiple monthly returns.
2.Pay Lower Tax which gives competitive advantage
3.Books of Accounts and Records are easy to maintain under GST norms.
In short, this is a customer who has a business which is registered under the composition scheme of GST and has a GSTIN.
Following is the eligibility criteria to register under GST Composition Scheme :
1.Must be a Registered Taxpayer
2.Annual Turnover should be less than Rs 1 Crore
3.Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.
B. Registration As a Casual Taxable Person:
Casual Taxable Person is a person who supplies taxable goods or services occasionally like a event management company which has various events in different states needs to register as a Casual Taxable Person for that particular taxable state before supplying or offering any goods or services.
Suppose Mr. ‘A’ has a business of consulting and who provide services in different states, then he needs to register as a Casual Taxable Person so that his business is compliant with the tax norms of that particular state.
ONLINE GST REGISTRATION IN RANCHI
GST (Goods and Services Tax) is essentially an Indirect tax which has been implemented to replace numerous taxes in India. Online GST registration was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India. As per the changes in the 32nd council meeting, the threshold limit for GST registration is 40 lakhs for the supplier of goods and 20 lakhs for the supplier of services. Along with that, the North-Eastern States have an option to choose between 20 lakhs and 40 lakhs. Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number). There are various advantages of GST registration. You can also avail input tax credit and collect GST from recipients of goods and services.
Online GST registration in Ranchi can be easily done by visiting Online GST portal. It is easy to fill the form on GST online portal yet at the same time you require the expert’s to fill the form with accurate information and submit the documents accordingly. Few of the terms while drafting for GST registration cannot be understood by many of the taxpayers. Therefore at the initial stage GST registration should be done with the help of experts and here at SONASIS INDIA, you will be able to get done with your GST registration with a simple and quick process.
GST REGISTRATION IN RANCHI FAQS
GST (Goods & Service Tax) the name itself defines that the tax is levied on Good and services. This tax will be levied from all stages from manufacturing till consumption..
The tax would be received by the taxing authority which has jurisdiction over the place of consumption which is also termed as a place of supply.
A). Cetral Taxes:
a. Central Excise duty
b. Duties of Excise (Medicinal and Toilet Preparations)
c. Additional Duties of Excise (Goods of Special Importance)
d. Additional Duties of Excise (Textiles and Textile Products)
e. Additional Duties of Customs (commonly known as CVD)
f. Special Additional Duty of Customs (SAD)
g. Service Tax
h. Central Surcharges and Cesses so far as they relate to supply of goods and services.
B) State taxes that would be subsumed under the GST are:
a. State VAT
b. Central Sales Tax
c. Luxury Tax
d. Entry Tax (all forms)
e. Entertainment and Amusement Tax (except when levied by the local bodies)
f. Taxes on advertisements
g. Purchase Tax
h. Taxes on lotteries, betting and gambling
i. State Surcharges and Cesses so far as they relate to supply of goods and services
Tobacco & tobacco products will subject to GST.
GST is differentiated in three different types CGST (Central Goods and Service Tax), SGST (State Goods and Service Tax), IGST (Integrated Goods and Service Tax).
Centre will levy and administer CGST & IGST while respective states /UTs will levy and administer SGST.
An Integrated GST (IGST) would be levied and collected by the Centre on the inter-State supply of goods and services. The GST on supplies in the course of inter-state trade or commerce shall be levied and collected by the Government of India and such tax shall be apportioned between the Union and the States in the manner as may be provided by Parliament by law on the recommendations of the Goods and Services Tax Council.
The CGST and SGST rates will be levied by States and Central Government.
Import of goods will be treated under IGST (Integrated Goods and Service Tax), The incidence of tax will follow the destination principle and the tax revenue in case of SGST will accrue to the State where the imported goods and services are consumed. Full and complete set-off will be available on the GST paid on import on goods and services.
Exports will be treated as zero-rated supplies. No tax will be payable on exports of goods or services, however, the credit of input tax credit will be available and same will be available as a refund to the exporters. The Exporter will have an option to either pay tax on the output and claim refund of IGST or export under Bond without payment of IGST and claim a refund of Input Tax Credit (ITC)
GST came into effect on 1st April, 2017.
Yes, B2B transactions are subjected to GST.
The taxes you pay on input goods/services can be used as an Input Tax Credit (ITC) against output tax liabilities.
Input tax credits can be used as follows:
CGST input tax credits can only be used to pay CGST and IGST
SGST input tax credits can only be used to pay SGST and IGST
IGST input tax credits can be used to pay CGST, SGST, and IGST
Returns will trigger a tax credit, however, replacement products will be subject to GST, so cash flow may be impacted by returns.
No, we cannot claim GST interest refund after two years of payment
GST regulations are applicable if your annual turnover is Rs. 20 lakh or above. In case of North Eastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura) and hilly regions i.e. Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and Sikkim, the threshold limit is Rs. 10 lakh.
Yes, PAN card is required to apply for GST.
Yes, GST is applicable from 1st July and the registration limit is until 31st Jan.
If you occasionally make the supply of goods/services as a principal or agent or any other capacity, in a taxable territory, where GST applies but where you don’t have a fixed place of business. As per GST, you will be treated as a Casual Taxable Person.
The following shall not be required to obtain registration and will be allotted a UIN (Unique Identification Number) instead. They can receive a refund of taxes on notified supplies of goods/services received by them:
Any specialized agency of UNO (United Nations Organisation) or any multilateral financial institution and organization notified under the United Nations Act, 1947 Consulate or Embassy of foreign countries
Any other person notified by the Board/Commissioner
The Central Government or State Government may be based on the recommendation of the GST Council, notify exemption from registration to specific persons.
Yes, section 34 will deal with such situations.
All goods and services are taxable except alcoholic liquor. Petroleum crude, high-speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel shall be taxable with effect from a future date. This date would be notified by the Government on the recommendations of the GST Council.
It implies to settle Government obligation that is on the beneficiary of supply of goods and services rather than the provider of such products or administrations in regard to informed classifications of supply.
GST registration can be done in three simple steps:
Application Drafting
ARN Number
Registered GST Number
