GST Registration

GST Registration

The largest indirect tax, the Goods and Service Tax (GST), was enacted by the parliament on March 29, 2017, and is governed by the Goods and Service Tax Act. Nearly all other indirect tax regulations that had been in effect in India before were superseded by this one. There is now just one tax for the whole nation.

The tax is imposed under the GST framework at each point of sale. If sales occur within the state, both Central GST and State GST are levied. Sales inside a state are subject to integrated GST charges. This system applies three different kinds of taxes: CGST, SGST, and IGST.

The central government collects the capital gains tax (CGST) on intrastate sales. The State Government is responsible for collecting SGST for intrastate sales, whereas the Central Government is in charge of collecting IGST.

WHY GST

One of the most reasons to introduce GST in India is to integrate almost all taxes with a single one. Here Centre and Ste would divide the taxes based on their preapproved formula.

Documents required for GST Registration

• Pan card of the business in case of a company
• Pan and Residence proof of the Partners/Directors.
• Constitution proof of business Rented/Owned.
• Bank Statement/Cancelled Cheque of the business
• Digital Signature Certificate (DSC) in case of a company