GST REGISTRATION
Launched on July 1 2017, the Goods and Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers. A variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST.
GST is to be charged at every step of the supply chain, with full set-off benefits available. The procedure for GST is entirely online and requires no manual intervention.
GST has subsumed many indirect taxes which were imposed by Centre and State such as Sales tax, Service tax, Excise duty, VAT. GST is levied on supply of all goods or services or both except supply of alcoholic liquor for human consumption.
GST REGISTRATION
All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number (GSTIN).
GST registration is provided under different categories of liable taxpayers, which are based on the criteria of the types of business transactions, the annual turnover, and the location of the business/service.
- GST Registration is mandatory for cases of Export of goods and services.
- Supply of goods and services through e-commerce platforms.
- Input Service Distributor needs mandatory GST Registration in India.
- Non Resident Taxable Person needs mandatory GST Registration in India.
- Casual Taxable Person needs mandatory GST Registration in India.
- Reverse Charge Mechanism
