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Goods & Service Tax

Any business offering sale of goods with annual turn over of 40 lacs or service with annual
turn over of 20 lacs would require the registration for GST and have a valid GST Number.

  • We help you get a Secure GST Identification Number.
  • We make it easy for you to get your GST from the comfort of your own home
  • We will file your returns and complete all other compliances as and when required

Features & Benefits

Launched on July 1 2017, the Goods & Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers. The GST is an all-in-one tax that subsumes a variety of state (VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (CST, Service Tax, Excise Duty).  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 is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

Every product goes through multiple stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the final sale to the consumer.  GST will be levied on each of these stages (including value addition) and at the point of consumption, rather than the origin of the product. For example, if the product is produced in Tamil Nadu but consumed in Karnataka, then the entire tax revenue will go to Karnataka instead of Tamil Nadu.

Also, taxpayers with a turnover of less than Rs.1.5 crore can opt for composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.

GST will have 3 tax components, which includes a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where centre and state will levy GST on all entities, i.e. when a transaction happens within a state. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the centre, i.e. when a transaction happens one state to another.

Input tax credit lets you reduce your tax you have already paid on inputs and pay the remaining amount at the time of paying tax.

You pay taxes on the purchase when a product is purchased from a registered seller, and when you sell the product, you too collect the tax. With input credit, you can adjust the taxes paid at the time of purchase with the amount of tax on sales (output tax) and pay the balance liability of tax, i.e. tax on sale minus tax on the purchase.

Every business or corporation that are involved in the buying and selling and good of services have to register for GST. It is mandatory for companies whose turnover is more than Rs.20 lakhs (for supply of services) and Rs. 40 lakhs ( for supply of goods) yearly to register for a GST.

All businesses making interstate outward supplies of goods have to register for a GST too. The same applies to businesses making taxable supplies on behalf of other taxable persons, example Agents and Brokers.

Also, as per the recent notification, e-commerce sellers/aggregators need not register if total sales are less than Rs.20 lakhs.

One of our GST representatives will collect all the required documents and process the GST application through you.

Application Filing

Once all the documents are collected, the application will be processed and filed. Then immediately the ARN number will be issued.

GST Registration Certificate

The GST registration certificate and GSTIN will be issued upon verification of GST application and other mandatory documents by the GST officer. Be aware that no hard copies of the certificate will be issued and the GST registration certificate can be downloaded from the GST Portal.

A GST Return Filing is a return document that contains details of the income of the taxpayer. It has to be filed with the GST administrative authority. The document is used tax authorities to calculate the tax liability of a GST taxpayer. A GST Return Filing form has to include the following details.

  • Output GST (On sales)

  • Sales

  • Input tax credit (GST paid on purchases)

  • Purchases

For filing a GST Return, you need to have GST compliant sales and purchase invoices attached.

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Why Smart Business Hub?

  • Easy to get GST registration and GST Identification Number online.
  • No hassle compliances as we completely take control of them.
  • All your returns will be filed duly

 

Get your GST Certificate @ Rs. 499/-