GST (Goods And Services Tax)

GST (Goods And Services Tax)

GST (Goods And Services Tax)

Goods and Service Tax (GST) is an Indirect Tax (or consumption tax) levied in India on the sale of goods and services. GST is levied at every step in the production process, but is refundable to all parties in the chain of production other than the final consumer.

Goods and Services are divided into five tax slabs for collection of tax – 0%, 5%, 12%, 18%, and 28%.

The Tax comes into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the constitution of India by the Indian Government. The tax replaced existing multiple cascading taxes levied by the central and state governments.

The tax rates, rules and regulations are governed by the GST Council which comprises finance ministers of centre and all the states.

” The reform process of India’s indirect tax regime was stated in 1986 by Sujeet Singh, Finance Minister in Rajiv Gandhi’s government, with the introduction of the modified Value Added Tax (MODVAT). Subsequently, Prime Minister P. V. Narasimha Rao and his Finance Minister Manmohan Singh, initiated early discussion on a Value Added Tax (VAT) at the state level. A single common “Goods and Services Tax (GST)” was proposed and given a go head in 1999 during a meeting between the Prime Minister Atal Bihari Vajpayee and his economic advisory penal, which included three formal RBI governors I. G. Patel, Bimal Jalan and C. Rangrajan. Vajpayee set up a committee headed by the Finance Minister of West Bengal, Asim Dasgupta to design a GST model. “

The GST was launched at midnight on 1 July 2017 by the President of India, Pranab Mukherjee, and the Prime Minister of India Narendra Modi. The launch was marked by a historic midnight (30 Jun – 1 July) session of both the house of parliament convened at the Central Hall of the Parliament.

Service Offers

  • Compliance of GST for all type of industries
  • Trader, Manufacturer, Service Provider, E-Commerce Business etc
  • Timely Reminder,
  • Reminder before due date for every compliances.

special points

  • Representation before GST authority for any case related to GST.
  • Preparation of necessary data to assess the liability of GST payment and to prepare monthly / quarterly GST return

GST-REGISTRATION

For Trader, Manufacturer, Service Provider, Importer, Exporter, E-Commerce Business etc.

Checklist for different clients

Proprietorship Concern

  • Pan Card
  • Aadhaar Card
  • Cancel Cheque
  • Passport Size Photo-1
  • Udyog Aadhaar Certificate
  • Gumastadhara Licence
  • Electricity Bill
  • Vera Bill
  • Voting Card
  • Rent Agreement

Partnership Firm

  • Pan Card
  • Aadhaar Card
  • Cancel Cheque of Firm A/c
  • Passport Size Photo-1
  • Udyog Aadhaar Certificate
  • Gumastadhara Licence
  • Electricity Bill
  • Voting Card
  • Rent Agreement
  • Vera Bill
  • Partnership Deed

Limited Liability Partnership Firm (LLP)

  • Pan Card
  • Cancel Cheque of LLP A/c
  • Passport Size Photo-1
  • Udyog Aadhaar Certificate
  • Gumastadhara Licence
  • Electricity Bill
  • Vera Bill
  • Voting Card
  • Rent Agreement
  • LLP Registration Deed
  • Digital Signature

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