₹4,499
₹2,999
All Inclusive Price
GST (Goods And Service Tax) – Overview
- The Goods and Services Tax (GST) is a type of tax on the consumption of goods and services in countries, collected by businesses from consumers and paid to the government.It was introduced officially in India on 1 July 2017, replacing the earlier system of multiple taxes, such as excise duty, service tax, and value-added tax (VAT).
- The 101st Constitutional Amendment / One Hundred and First Amendment Act, 2016 of the Constitution of India is a significant piece of legislation that has had a prominent impact on the Indian economy. It was passed in 2016 to introduce the Goods and Services Tax (GST), a value-added tax (VAT) that has simplified the tax system and boosted economic growth. This constitutional amendment was introduced as a nationwide Goods and Services Tax (GST) concept in India.
- GST registration is mandatory for all businesses with an annual turnover of more than ₹40 lakhs (₹20 lakhs for businesses in special category states).
- Know about GST registration in a clear and easy way. Get the details on the process, steps, and required documents. Check your registration status and make sure you’re on track to meet deadlines. Contact True Auditor today to learn more!
What Is GSTIN?
GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit number assigned to every taxpayer registered under the GST regime in India. The GSTIN is used to identify taxpayers and to track their transactions.
The GSTIN Is Structured As Follows:
- The first two digits represent the state code.
- The next ten digits are the PAN card number of the taxpayer.
- The thirteenth digit is an entity code used to distinguish between different types of taxpayers.
- The fourteenth digit is a fixed alphabet ‘Z’.
- The fifteenth digit is a check digit, which is used to verify the accuracy of the GSTIN.
What Is A GST Certificate?
A GST certificate is a document issued by the Government of India to a taxpayer or entity that has registered under the GST system. It is proof of registration and authorises the taxpayer to collect GST from customers on behalf of the government.
The GST certificate contains the following information:
- GST Identification Number (GSTIN)
- Name of the taxpayer
- Address of the taxpayer
- Date of registration
- Type of registration (regular, composite, or non-resident)
- Business category
- Signature of the authorised officer
Components Of GST
The components of Goods and Services Tax (GST) in India are:
Central Goods and Services Tax (CGST)
This is levied by the central government on all intra-state and inter-state supplies of goods and services. The CGST rate is the same for all states and union territories.
State Goods and Services Tax (SGST)
This is levied by the state government on all intra-state supplies of goods and services. The SGST rate varies from state to state.
Integrated Goods and Services Tax (IGST)
This is levied by the central government on all inter-state supplies of goods and services. The IGST rate is the sum of the CGST and SGST rates.
Union Territory Goods and Services Tax (UTGST)
This is levied by the central government on all supplies of goods and services made within a union territory. The UTGST rate is the same as the SGST rate.
Who Needs A GST Registration Service?
- Any individual or business entity that carries out taxable supplies of goods or services
- Annual turnover of the business exceeds the prescribed threshold limit (currently ₹20 lakhs for most businesses)
- E-commerce operators that facilitate the supply of goods and services through their platform
- Non-resident taxable persons who occasionally supply goods or services in India
- Businesses that are involved in inter-state supply of goods or services
- Input service distributors who distribute input tax credit to their branches or units
- Casual taxable persons who supply goods or services occasionally in India
- Businesses that were previously registered under the old tax regime (VAT, Service Tax, etc.) and have migrated to GST.
Documents Required For GST Registration
| BUSINESS TYPE | REQUIRED DOCUMENTS |
| INDIVIDUAL | PAN card, Aadhaar card, bank account statement or cancelled cheque, passport-size photograph |
| PARTNERSHIP | PAN card of the firm, partnership deed, Aadhaar cards of all partners, bank account statement or cancelled cheque, passport-size photograph of one partner |
COMPANY | PAN card of the company, company incorporation certificate, Memorandum and Articles of Association, Aadhaar card of the authorised signatory, bank account statement or cancelled cheque, passport-size photograph of the authorised signatory |
| NON-RESIDENT | PAN card of the non-resident, passport, Aadhaar card or any other proof of address, bank account statement or cancelled cheque, passport-size photograph |
Getting a GST registration is a legal process that requires you to submit a lot of information about your business and scanned copies of certain documents.True Auditor offers a GST registration plan that can save you a lot of time and hassle. With our plan, a GST professional will help you with the entire process from start to finish.
GST COMPLIANCES
| COMPLIANCE | FREQUENCY |
| File GSTR-1 (Sales return) | Monthly |
| File GSTR-3B (Summary return) | Monthly |
| Pay GST liability | Monthly |
| File GSTR-2 (Purchase return) | Quarterly |
| File GSTR-4 (E-commerce return) | Quarterly |
| File GSTR-5 (Non-resident return) | Quarterly |
| File GSTR-6 (Input service distributor return) | Quarterly |
| File GSTR-7 (Tax credit return) | Quarterly |
| File GSTR-8 (E-commerce return for e-commerce aggregators) | Quarterly |
| File GSTR-9 (Annual return) | Annual |
| File GSTR-9C (Reconciliation statement) | Annual |
| Issue invoices and credit notes | As required |
| Maintain GST records | As required |
| File GST refunds | As required |
| Respond to GST notices | As required |
| E-invoicing (for businesses with a turnover of more than ₹20 crores) | Monthly |
| Electronic waybill (EWB) (for all inter-state and intra-state movement of goods worth more than ₹50,000) | As required |
Why True Auditor?
- We offer a hassle-free online GST registration process, with complete guidance from our experienced legal representatives.
- We take care of all your GST compliance needs, so you can focus on running your business.
- We ensure that all your GST returns are filed on time and accurately.
- Although the GST portal has a user-friendly interface, the GST Forms have a lot of complex fields.GST Compliances
Easy Payment Options Available
No Spam. No Sharing. 100% Confidentiality