Goods and service tax procedure

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Information about Goods and service tax procedure

Published on October 23, 2016

Author: faizlap


1. GST PROCEDURE (Goods and Service Tax)

2.  GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.  The final consumer will bare only the GST charged by the last dealer in the supply chain.  It will replace all indirect taxes levied on goods and services by the Indian central and state governments.

3. PROCEDURE FOR OBTAINING REGISTRATION • Application through GST common portal • Confirmation through email and sms to authorised signatory • Acknowledgement number would be generated and intimated to the applicant • Once the application is approved and GSTIN is generated, the same along with Login ID and temporary password will be sent to the authorised signatory • This credentials will be permanently used to Access the GST common portal subsequently.

4. PROCEDURE FOR MIGRATION OF PERSONS REGISTERED UNDER PREVIOUS LAW  Should be granted registration in Form GST REG-21 on a provisional basis  Submit application in Form GST REG-20  Incomplete information leads to cancellation of registration Form GST REG-22

5.  If any amendment has to be done then the applicant must in 15 days of the change submit an application in Form GST REG-11  If the proper officer is satisfied then he will issue an order in form GST REG-12.

6. CANCELLATION OF GST REGISTRATION • Transfer or Discontinuation of business. • Change in the constitution of business. • The taxable person is no longer liable to be registered. • The registered person has contravened the provision of the act. • He under sec-8 has not furnished returns for 3 consecutive tax period. • Any person other than in sec-8 has not furnished returns for continuous 6 months. • Any person who has done voluntary registration under sec 19(3) has not commenced business within 6 months from date of registration. • Fraud Registration.

7. WHO IS REQUIRED TO REGISTER FOR GST NUMBER  Any person with a taxable supply turnover over Rs.25 lakhs would be required to register for GST in India.  The term person under GST law includes proprietorship, partnership firms, Hindu Undivided Family, Company, LLP, Society and any other legal entity.

8. • Interstate supply, irrespective of threshold limit. • Taxable persons. • Reverse charge. • Non-resident taxable persons. • Persons who are required to deduct tax under sec-37 (TDS). • Agents • Input service distributors supply of goods and services through electronic commerce operator other than branded services. • Every electronic commerce operator. • Aggregator who supplies service under his brand name or trade name. • Person who is registered under any previous law but exceeds the threshold limit.

9.  30 days from the date they become liable to register.  Although input service distributor registered in the previous law is not required to re-register if he follows the procedure prescribed.  Migration to GST registration.

10. DOCUMENTS REQUIRED FOR REGISTRATION FOR PRIVATE LIMITED COMPANY  Certificate of Incorporation  MOA  AOA  PAN of the company  List of directors  Board resolution  Identity proof of directors  Address proof of directors

11. FOR LIMITED LIABILITY PARTNERSHIP  Certificate of incorporation  LLP agreement  PAN of the LLP  List of partners  Identity proof of partners  Address proof of partners

12. FOR PROPRIETORSHIP  PAN of the proprietor  Address proof of the proprietor

13. CONCLUSION  It is a single tax on supply of goods and services right from manufacturer to consumer.  It will replace all the indirect taxes levied on goods and services by central and state government.  Persons registered under previous law can migrate to GST.


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