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GST Registration ( 1 unit )

1500

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GST Registration (Goods & Service Tax)


    Important Points

  • -

What is GST ?

Goods & Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and Twenty Second Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. The GST is governed by GST Council and its Chairman is Union Finance Minister of India - Arun Jaitley. Under GST, goods and services will be taxed at the following rates, 0%, 5%, 12%, 18%, 28%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. There will be additional cess on sin goods like cigarettes.

Documents Required for GST Registration

Introduction

The list of documents required for each of the form of business is different. Hence, we will discuss documents required for GST registration for each of the form of business.

1. Documents required for Private Limited Company (Pvt Ltd)/Public Company (limited company)/One person company (OPC):

    - Company documents

  • PAN card of the company
  • Registration Certificate of the company
  • Memorandum of Association (MOA) /Articles of Association (AOA)
  • Copy of Bank Statement
  • Declaration to comply with the provisions
  • Copy of Board resolution 

    - Director related documents

  • PAN and ID proof of directors 

    - Registered Office documents

  • Copy of electricity bill/landline bill,  water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented)

2. Documents required for Limited Liability Partnerships (LLP):

    - LLP documents

  • PAN card of the LLP
  • Registration Certificate of the LLP
  • LLP Partnership agreement
  • Copy of Bank Statement of the LLP
  • Declaration to comply with the provisions
  • Copy of Board resolution 

    - Designated Partner related documents

  • PAN and ID proof of designated partners 

    - Registered Office documents

  • Copy of electricity bill/landline bill,  water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented) 

3. Documents required for Normal Partnerships

    - Partnership documents

  • PAN card of the Partnership
  • Partnership Deed
  • Copy of Bank Statement
  • Declaration to comply with the provisions

    - Partner related documents

  • PAN and ID proof of designated partners

    - Registered Office documents

  • Copy of electricity bill/landline bill,  water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented)

4. Documents required for Sole proprietorship/Individual

    - Individual documents

  • PAN card and ID proof of the individual.
  • Copy of Cancelled cheque or bank statement.
  • Declaration to comply with the provisions.

    - Registered Office documents

  • Copy of electricity bill/landline bill,  water Bill
  • No objection certificate of the owner
  • Rent agreement (in case premises are rented)

Conclusion

We have tried to list down the documents requirement for each form of business separately to make you understand the requirements.

In case you have any issue or you need any help, please contact us

History of GST

The reform process in indirect tax regime of India was started in 1986 by Vishwanath Pratap Singh by the introduction of Modified Value Added Tax (MODVAT). Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which are currently applicable to the interstate transportation of goods are also likely to be done away with in GST regime.

The following taxes will be bound together by the GST

Central Excise Duty, Commercial Tax, Value Added Tax (VAT), Food Tax, Central Sales Tax (CST), Octroi, Entertainment Tax, Entry Tax, Purchase Tax, Luxury Tax, Advertisement taxes, Taxes applicable on lotteries

GST is levied on all transactions such as sale, transfer, purchase, barter, lease, or import of goods and/or services. India will adopt a dual GST model, meaning that taxation is administered by both the Union and State Governments. Transactions made within a single state will be levied with Central GST (CGST) by the Central Government and State GST (SGST) by the government of that state. For inter-state transactions and imported goods or services, an Integrated GST (IGST) is levied by the Central Government. GST is a consumption based tax, therefore, taxes are paid to the state which the goods or services are consumed not the state in which they were produced. IGST complicates tax collection for State Governments by disabling them to collect the tax owed to them directly from the Central Government. Under the previous system, a state would have to only deal with a single government in order to collect tax revenue.