Goods and Service tax (GST) is destination based indirect tax on consumption of goods and services. It is proposed to be levied at all stages from the stage of manufacture up to final consumption with credit taxes paid at previous stages available as setoff. The main aim of GST is t bring in a sense of harmonization by avoiding multiple layers of taxation that presently exist in our country.
One of the key advantage of GST is the presence of credit chain which will be available from the stage of manufacture to the stage of final consumption unlike present tax regime. This will help in eliminating multiple taxation on the goods and services. GST would replace a number of indirect taxes, presently being levied by the Central Government and the State Governments thereby removing cascading of taxes and provide a common national market for goods and services.
Every dealer involved in manufacturing or trading of goods or providing service will be required to get registered under GST within 30 days from commencement of business. All dealers registered under Service tax, State VAT laws, Excise laws etc will be migrated to GST and shall be allotted PAN based GSTIN. Hence, its important for all VAT dealers to update their PAN with their respective VAT departments.
The threshold turnover limit over which the dealer shall be required to register is Rs. 20 lakhs which is applicable to all. One can still get voluntarily registered if his/her business turnover is below Rs. 20 lakhs and all provisions will apply to him.
TAXES LEVIED BY STATES
» State VAT
» Central Sales Tax
» Luxury Tax
» Entry Tax (all forms)
» Entertainment and amusement tax (except when levied by local bodies)
» Taxes on advertisements
» Purchase tax
» Taxes on lotteries, betting and gambling
» State Surcharges and Cesses so far as they relate to supply of goods and services
TAXES LEVIED BY CENTRE
» Central Excise Duty
» Duties of Excise (Medicinal and Toilet Preparations)
» Additional Duties of Excise (Goods of Special Importance)
» Additional Duties of Excise (Textiles and Textile Products)
» Additional Duties of Customs (CVD)
» Special Additional Duty of Customs (SAD)
» Service Tax
» Central Surcharges and Cesses so far as they relate to supply of goods and services
ENROLLMENT OF EXISTING VAT, SERVICE TAX AND CENTRAL EXCISE DEALERS
Who all have to seek enrollment
All existing dealers under Value Added Tax, Service tax, Central Excise, Entry tax, Entertainment tax, luxury tax need to get themselves enrolled on GST common portal in order to get their business transitioned to GST. Their won’t be any deemed enrollment for any one and all the dealers would have to go through the enrollment process mandatorily.
This is to ensure that the correct and true data will get updated in GST database because the data available with various tax authorities is incomplete in some form or the other.
Where and How to enroll
The enrollment can be done on GST database but before proceeding with that, the dealer would have to procure a temporary user ID and password from their present tax Authority (VAT, Service tax, Excise etc). Using that particular ID and password the dealer will be able to create and login to his account on GST portal and will submit all the details, as required.
Checklist before beginning with enrollment process
- Provisional ID and password (received from respective VAT, Service tax, excise department)
- Valid email ID that will be submitted
- Valid mobile no. that will be submitted
- Bank a/c number with bank’s IFSC code
- Other documents as mentioned in next point
Documents required to be submitted (in pdf or jpg and less than 1 mb in size)
- Partnership Deed (if partnership firm)
- Certificate of Registration (in cases other than partnership firm)
- Proof of appointment of authorized signatory
- Photograph of authorized signatory (in ,jpg and less than 100 kb in size)
- Opening page of bank passbook
- Statement containing bank a/c number, address of bank, address of account holder and few transaction details.
» PAN of entity and authorized person(s)
» Bank passbook (Front page)
» Statement containing Bank a/c no., address of branch, address of account holder and few transaction details
» Provisional ID (received from department)
» Password (received from department)
» Valid Email ID
» Valid Mobile Number
DOCUMENTS REQUIRED TO OBTAIN GSTIN
» Partnership Deed (for partnership firms)
» Certificate of Registration (for companies, proprietorship concerns, trusts, societies and all other entities)
For authorized signatory:
» Proof of appointment of authorized person
» Photograph of authorized person(s)
» DSC for signing application (mandatory for companies, LLP, Foreign companies and FLLP)
We can help you get enrolled and ensure a smooth transition to GST for your business. We will assist you with the submission of your details with the GST portal and get Goods and Service Tax Identification Number (GSTIN) issued for your business. When we receive your request, we will get in touch with you and get you enrolled in no time.
Please fill the form and submit all the details relating your business. We will contact you to obtain further details, if any.
In case of any query contact us on +91 8650221221