An Overview
Goods and Services Tax

Launched on July 1, 2017, the Goods and Services Tax (GST) applies applies to the supply of goods and services through manufacturers, traders, wholesalers, retails and service providers.

GST is the product of the biggest tax change in India which has immensely improved the simplicity of working together and expanding the taxpayer in India by including a huge number of private companies. Tax complexities would be diminished because of the abrogating and subsuming of different expenses into a solitary, basic system.

The new GST system orders that all substances associated with purchasing or selling products or offering types of assistance or both are needed to enroll and acquire GSTIN

What is GSTIN?

GSTIN is a special recognizable proof number given to each GST registered individual/entity. To check a GSTIN number an individual who has a GST number can sign onto the GST gateway.

Types of GST Registration
Under the GST Act, GST Registration can be of different kinds. It is indispensable that you know about the various kinds of GST Registration before choosing the proper one. The various types of GST Registration are:

Normal Taxpayer: Most organizations in India fall under this class. You need not give any deposit to become a normal taxpayer. There is also no expiry date for citizens who fall under this class.

Casual Taxable Person: Individuals who wish to set up an occasional shop or slow down can choose this classification. You should store an advance amount that is equivalent to the normal GST liability during the time the slow down or occasional shop is operational. The span of the GST Registration under this classification is 3 months and it can be broadened or renewed.

Composition Taxpayer: Apply for this if you want to obtain the scheme under GST for taxpayers. You should store a level under this class. The info tax break can't be acquired under this class.

Non-Resident Taxable Person: If you live outside India, however, supply merchandise to people who stay in India, pick this kind of GST Registration. Like the Casual Taxable Person type, you should pay a store equivalent to the normal GST responsibility during the time the GST enrollment is active. The term for this sort of GST registration is generally 3 months, however, it tends to be expanded or renewed at the kind of expiry.

• Non-Resident Online Service Provider
• Unique Economic Zone Developer
• GST TDS Deductor – Government Entities
• UN Embassy/ Body/ other notified people
• Unique Economic Zone Unit
• GST TDS Collector – E-trade Companies

Mandatory documents for
Online GST registration

Documents required for registration of GST for numerous businesses are as follows:

Proprietorship

PAN Card and address proof of proprietor

• LLP
• PAN Card of LLP
• LLP Agreement
• Partners’ names and address proof

• Private Limited Company
• Certificate of Incorporation
• PAN Card of Company
• Articles of Association (AOA) & Memorandum of Association (MOA) are mandatory.
• Resolution signed by board members
• Identity and address proof of directors
• Digital Signature

• Address Proof from the director:-
• Passport
• Voter Identity Card
• Aadhar Card
• Ration Card
• Telephone or Electricity Bill
• Driving License
• Bank Account Statement

Who needs a
GST Registration?

Each business or partnership that is associated with the purchasing and selling and good of services has to register for GST. It is obligatory for organizations whose turnover is more than Rs.20 lakhs (for the supply of services) and Rs. 40 lakhs (for the supply of services) yearly to register for a GST.

How do we register for GST?

The Goods and Services Tax (GST) Registration administrations at Filing by Expert assist you with getting your business GST enrolled and acquire your GSTIN.

Either you can visit the Goods or Service Tax official website (www.gst.gov.in) or you can directly exploit with the Filing by Expert GST specialist, who will manage you on the relevance and compliances under GST for your business and get your business registered under GST   REGISTER NOW.

PENALTY FOR NOT DOING
REGISTRATION UNDER GST

For the individuals who have submitted fraud activities intentionally regarding the provisions of GST, at that point he/she will be at risk to take care of 100% penalty, i.e. an amount similar to the amount of tax avoidance or short deducted, subject to a minimum of Rs. 10,000/-

The penalty will at 100% of the tax amount due when the wrongdoer has deliberately tried not to make well on costs.