Tag: GST registration

business

Know About The Process of GST Registration in India

The Indian Government introduced GST, also known as Good and Services Tax, on July 1st 2017, passed on March 29th in the same year in the Indian Parliament. It is a tax imposed on goods and services that replaced several other indirect taxes prevalent in India. Presently, GST registration has become mandatory for businesses with a yearly turnover of Rs.40 lakh and above and in … Continue reading Know About The Process of GST Registration in India

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Documents Required for GST Registration Procedure

After the implementation of the Goods and Services Tax (GST) in India, it is mandatory for all business entities with the minimum aggregate turnover in a fiscal to complete the GST registration procedure. As a business owner, you can visit the GST portal, fill up the GST REG-01 form, upload the required documents to initiate GST registration process. The list of documents required for GST … Continue reading Documents Required for GST Registration Procedure

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Finance

Changes in GST could Complicate Tax System but Boost SMEs

Experts feel that the recent changes declared in the 32nd GST Council meet would complicate tax structure but spell convenience for small and mid-sized enterprises (SMEs). During its meet, the Council raised the minimum threshold limit for GST registration from Rs. 10 lakh to Rs. 20 lakh for hilly and north eastern states, while for others it was raised to Rs. 40 lakh from Rs. … Continue reading Changes in GST could Complicate Tax System but Boost SMEs

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Finance

Pros and Cons of GST for Startups

The Goods and Service Tax (GST) came into effect on June 30, 2017 amidst numerous controversies. While on one hand, economists said that GST would bring nothing else than inflation, others claimed that it will make the economy healthier than ever. Now, irrespective of the claims and actual consequences, the business sector has been widely affected in both negative and positive ways. Let’s take the … Continue reading Pros and Cons of GST for Startups

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Finance

Guide To Get GST Identification Number

The GST or the goods and services tax identification number is an exclusive 15-digit alphanumeric code assigned to an individual or business entity registered for paying the GST in India. Every business inside the liability tax bracket should get a GST identification number in order to perform business operations in India within the legal framework. A GSTIN  number includes a 2-digit state code to start … Continue reading Guide To Get GST Identification Number

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