Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
Taxhub will file an application for GST
Assistance in Opening of Bank Account
Get your Business Docket
What is a GST?
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
GST is a new form of tax that seeks to replace all central and state taxes and levies such as excise duty, countervailing duty, service tax, value added tax, octroi, entry tax and luxury tax. Goods and services should be taxed based on the value addition at each stage and not based on the gross value of the goods or services billed at each stage. Further, tax should be eventually borne at the point of consumption rather than at the point of production, though the tax department must be able to track value addition at each step and collect tax proportionate to the value added at each stage.
GST is a single tax right from the manufacturer or service provider to the consumer. In this system, taxes paid at each stage will be credited in the subsequent stage of value addition. Thus, Goods and Services Tax charged by the final dealer (seller or service provider) is the final tax borne by the customer, with set off of all taxes paid at all earlier stages in the supply chain.
Who is required to take GST Registration
If anyone fall into any one of the following Criteria:
• Aggregate Turnover
Any Supplier who exclusively engages in supply of goods and whose turnover exceeds 40 Lakhs is required to take GST Registration and any service provider who provide services for a value more than 20 Lakhs in aggregate then he is required to take GST Registration. In some special category states the limit is 10 Lakhs.
• Interstate Supply:
If supplier supplies goods to interstate i.e from one state to another state then they are required to take GST Registration irrespective of Turnover and if service provider provides interstate service for a value of more than 2o lakhs then they are required to take registration but in some special categories limit is 10 Lakhs.
• Using E-Commerce Platform
Any Person who is using an Ecommerce Portal for selling his goods or providing services then he is required to take registration irrespective of their Turnover.
• Casual Taxable Person
Casual taxable person who is not having fixed place of business in the State or Union Territory from where he wants to make supply. Such a person is required to take a registration irrespective of his turnover.
• Voluntary Registration
Any Person can obtain GST registration voluntarily without taking concern of their turnover.
Basic Documents Required
Documents of Individuals (Proprietor/Partner/Director)
- Copy of Pan Card (As Identity Proof)
- Copy of any one i.e Aadhar Card, Voter ID, Passport and Driving License (As Address Proof)
- Colour Photograph (Scan Copy)
- Mobile Number and Email ID for OTP.
- Cancel Cheque/ Copy of Pass Book of Saving Account
If Property is owned by any Proprietor/Partner/
Director or his relative
- Copy of Sale Deed of the Property
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the Owner (Taxhub will provide a draft copy)
- Copy of Rent Agreement
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the landlord (Taxhub will provide a draft copy)
999/-
All Inclusive Fees
| GST Registration |
| Support in opening of Bank Account |
4,499/-
All Inclusive Fees
| GST Registration |
| Support in opening of Bank Account |
| GST Return Filing 3 Months |
6,499/-
All Inclusive Fees
| GST Registration |
| Support in opening of Bank Account |
| GST Return Filing 6 Months |
Benefits of GST Registration in India
Businesses are entitled to tax credits should they decide to register for GST. This is great news since it means more money coming back into the business with their tax return. Not everything receives a GST credit, but there are a number of business expenses that will. If you make a purchase for both business and personal use, you can claim the business portion of GST.
A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent.
A system of seamless tax-credits throughout the value-chain, and across boundaries of States, would ensure that there is minimal cascading of taxes. This would reduce hidden costs of doing business.
Reduction in transaction costs of doing business would eventually lead to an improved competitiveness for the trade and industry. World Bank believes that the implementation of the Goods and Service Tax (GST), combined with dismantling of inter-state check-posts, is the most crucial reform that could improve competitiveness of India’s manufacturing sector.
GST will result in better tax compliance due to a robust IT infrastructure. Due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in-built mechanism in the design of GST that would incentivize tax compliance by traders.
Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far.
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
