The foundation of GST was laid down in the Budget Speech of February 2006. However, after the government of India worked tirelessly, GST went into effect on July 1, 2017. GST’s full form is Goods and Service Tax. In India, GST is divided into four slabs of 5%, 12%, 18%, and 28%. Payment of GST varies from industry to industry and is decided by the GST Council.
In India, the central government used to levy manufacturing taxes in the form of CST, VAT, entry tax, luxury tax, and purchase tax. This resulted in multiplicities of taxes at various stages in the same supply chain. After careful analysis, the government proposed GST as a single tax to eliminate cascading effects in the taxation system.
The Goods and Services Tax (GST) system in India has simplified the tax structure, bringing several advantages to businesses, consumers, and the economy. Here are some key benefits.
GST contributes to the unification of tax rates in the national market, boosting both domestic and foreign investment.
GST mitigates the cascading effect by allowing taxpayers to have one unified tax payment service.
GST is applicable to all businesses and individuals alike. In addition, the online procedure and a uniform charge for all taxpayers make it convenient to comply with center and state laws.
By following online processes and necessary compliance digitally, users can be ensured of a direct transaction process.
Since GST tax payment is a completely digital process, taxpayers end up reducing any third-party invasion by mediators or arbitrators.
GST has boosted the use of Internet-related services and promotes a paperless economy.
Reducing the number of tax systems simplifies governance, resulting in a smoother flow and simpler payments.
In India, businesses and individuals can apply for different types of GST registration based on their business needs and turnover. Here are the main types:
✅ Normal Tax Payer: Applicable for taxpayers who do business in India. These taxpayers register themselves as regular taxpayers and do not need to make a deposit to enjoy unlimited validity
✅ Composition Taxpayer: This GST type requires applicants to enroll in the GST Composition Scheme. Then, the scheme participants can pay the tax at a flat GST rate. The taxpayer, however, would be unable to claim the input tax credit.
✅ Casual Taxable Person: This GST type is applicable for those taxpayers who have a small business like a stall or seasonal shop. Taxpayers of this type need to pay a deposit equal to the amount of GST liability to become eligible as a Casual Taxable Person. The liability must correspond to the active registration periods i.e., 3 months.
✅ Non-Resident Taxable Person: As the name suggests, this GST type is applicable to individuals residing outside of India. Taxpayers provide goods or services to Indian residents. In the case of NRI Taxable persons, the applicant must pay a deposit equal to the amount of GST liability.
Depending upon the category of the taxpayer, keep all the documents and types of information mentioned below ready:
Legal Business Name
The steps to apply for GST registration are typically common if you are a normal taxpayer, a composition taxable person, a casual taxable person, an SEZ unit, or an input service distributor. However, the steps may differ depending on whether you are an NRI taxable person, a UN body, a TDS deductor, or a TDS collector.
GST registration in India through JustStart broadly comprises the following major steps, which are as follows:
If you are a GST registration aspirant, you can reach out to us via the JustStart query form where our legal team of experts will respond to your query as soon as possible and guide you through the step by step GST application.
As mandatory, our experts will handle the application process and help you organize the documents. After this stage, we will prepare to fill out Part-A of the GST registration to get you a TRN (Temporary Reference Number). Here is essential information that we may ask you for filling Part-A form:
Our experts will proceed to furnish further details to get you an ARN (Application Reference Number). This number will be generated by the GST portal upon successful submission of the Part A form. Information needed to complete Part B of the GST form:
Once all the documentation has been completed, we will update you on the status of your application to obtain GSTIN.
From paper planning to idea execution, we actively achieve benchmark guidelines to ensure each step of the plan is not just carefully laid but successfully converted into reality.
JustStart is a platform for those who have the willpower to dream and the drive to achieve. We promise you our commitment, trust, and expertise to generate a hassle-free experience.
Time is of the essence. Every single day lost is an opportunity lost. Therefore, we take precautionary measures to ensure your business meets all the deadlines you have set.
We know quality has no replacement. Thus, we systemise each level of our work to minimise the chances of mistakes before each project passes through our client’s hands.
According to rules and regulations laid down in the Goods and Services Tax Act, 2017, every commercial firm or business entity with a turnover or annual income of 40 lakh and above fulfills the eligibility to apply for GST registration. However, the amount for North-Eastern states and other hill states is Rs. 20 lakh.
Any individual falling under the following category can apply for GST registration:
Yes, there are different types of GST registration in India.
Yes. It is possible to have multiple GST registration numbers on one PAN card. However, the state requires the firm to prove that it has multiple business verticals by dealing in different industries. Further, these businesses will be treated as separate businesses even if they are being operated by the same individual.
Yes. JustStart is a 100% digital platform where you get all the help related to the registration of GST online. We create a personalized profile of each client and help you complete each phase of GST registration without having you be physically present. But that doesn’t mean quality gets compromised. We are an authentic platform with a transparent registration process to ensure you can see each update on the same day.
The regular set of documents almost remains the same. However, in the case of a PLC, you may need some additional documents like:
Given the expert help from JustStart, applicants can expect to complete their GST registration within 3 working days.
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