Temporary GST Registration
GST registration is mandatory for all entities involved in the buying or selling or providing services in India.
Introduction
Goods and Services Tax or GST has been implemented in India from 1st July 2017 and casual taxable persons are also required to obtain GST registration and file GST returns. According to the GST Act, “casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business. A casual taxable person is mandatorily required to obtain GST registration irrespective of annual aggregate sales turnover.
Casual taxable persons are required to obtain GST registration under a special category at least 5 days prior to the undertaking business. An application for casual taxable person GST registration can be filed online along with identity proof, address proof and photographs of the promoters. Once, an application for casual taxable person GST registration is filed, a transaction number would be generated. Using the transaction number, GST deposit must be made by the taxpayer to obtain casual taxable person GST registration in India.
Types of a Director in a Company
Unified Platform
With the implementation of GST in India, indirect taxes would be streamlined and standardized. Under the GST regime, businesses would no longer have to obtain multiple VAT registration in different States or obtain a separate VAT and Service Tax registration. A single GST registration would be sufficient across India for selling or purchasing goods or providing services.
Subsuming of Taxes
Subsumes various other taxes like Central Sales Tax, Additional Customs Duty, Purchase Tax, Luxury Tax, etc., Hence, under GST, many of the taxes in existence today would be subsumed and made into one tax. This would make tax collection and compliance easy for businesses across the country.
Ease of doing Business
Currently, many businesses like restaurants, computer sales, and services businesses have to comply with both VAT and Service Tax regulations. This creates a compliance burden on the business, as they have to calculate taxes for the transaction based on different rates for different items. Under GST, the distinction between goods and services will be gone – making doing business easy.
Lower Taxes
Currently, in some states under the VAT regime, businesses are required to comply with VAT regulations once they cross an annual turnover of Rs.5 lakhs. Under GST regime, GST liability accrues only if an entity crosses an annual turnover of Rs.10 lakhs in northeast or hill states, whereas, for rest of India, the threshold is set at Rs.20 lakhs.
Larger Tax Base
GST is expected to increase the tax base in India significantly. Hence, the overall tax liability for businesses is expected to reduce overtime, as more and more businesses become compliant. Further, GST will use the latest in technology, including data from the Aadhaar database, PAN database, etc., to make GST registration and GST return filing process, as seamless as possible.
How we process an Appointment of Director
Application Preparation
Him Consultant’sGST Expert will prepare your GST registration application and collect your documents with signature in the format.
Application Filing
Once the application is prepared, Him Consultant’s will file for registration under GST with the concerned Tax Department.
GST Registration
Once the GST registration application and the attached supporting documents are verified, the Tax Department will allot GST registration number (GSTIN) for your business.
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