All you really need to learn about goods and services tax (GST)

GST required for doing amendments & doing regular compliance

Goods and services tax (GST) ensures that rather than collecting taxation at all rates in the nature of VAT, excise duty, income tax, customs duty, luxury tax and utility tax, you pay a specific tax at the end of the supply chain

GST Registration

In order to supply goods and products in India, it is mandatory to do GST registration.

Registration ensures safe taxation and also lets you enjoy various benefits. Multiple input taxes paid at every stage build up and cause cumbersome interaction with tax authorities. It would be done by applying interest at each point by charging the final tax by the buyer to the last supplier by where the goods is being bought or the services have been provided.

GST Registration measures

Registration requires a basic step-wise process

• First, figure out if GST registration should be subject to mandatory or optional registration for your particular situation.
• Review the documentation needed to register with GST and prepare them correctly
• Test the documentation by a specialist to prevent denial
• Uploading the documents to the GSTN website along with the GSTN application form
• Normally just a few days until the GST registration is reviewed and accepted. The registration certificate will be granted accordingly.

DOCUMENTS REQUIRED

New GST Registration

• Copy of PAN CARD (Company, Firm, Directors, Partners).
• E-mail ID.
• Mobile Number
• Photo of Partner, Managing Director or Authorized Person.
• Partnership Deed/M.O. A/A.O.A.
• Proof of Place of Business.
  • a) For Own Premises- Property Tax Receipt/Electric Bill.
  • b) For Rented- Rent Agreement & Property Tax Receipt/ Electric Bill of Owner.
• Bank Statement of Current Account or Cancelled Cheque (Containing Account Number, IFSC Code, MICR Code, Branch Detail).
• Authorization Letter/ Board Resolution for each Authorized Signatory.
• Trade Licence
• Aadhar Card (Directors, Partners).
• DSC (Directors, Partners, Authorized Signatory).