We provide a number of GST advisory services online in India like covering the impact of GST on the business of clients, examining different market scenarios of business models, legislative business level implementation assistance, transition management, and undertaking key compliance.
GST (Goods and Services Tax) is the biggest indirect tax of India. GST is one tax on the supply of goods and services.
It is a multi-level tax. GST registration is one of the biggest indirect tax reforms in the country. GST is expected to bring together state economies and improve the overall economic growth of the nation.
GST has replaced taxes like Central Excise Law, Service Tax Law, VAT, Entry Tax, Octroi, etc.
Applicability of GST
The simple GST regime will have uniform tax rates across States for both inter-state and intra-state transactions. This will promote compliance and ease of doing business. The uniform GST rates will reduce the incentives for evasion by eliminating rate arbitrage between neighbouring States and that between intra-state and inter-State sales.
The Current Indirect tax regime is quite complex. Central and State Governments levy a large number of taxes such as Central Excise duty, Service Tax, VAT, Purchase Tax, Central Sales Tax, Entry Tax, Local Body Taxes, Octroi, Luxury Tax, etc. Each of these is an independent tax with separate compliance requirements and differing provisions. This creates complexity and makes it difficult for the taxpayers to adhere to the legal requirements. The different tax systems are also not interconnected, which provides various avenues for tax evasion.
The Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services to both central and state governments including tax payers and other stakeholders. The front-end services of Registration, Returns, Payments, etc. to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.
GSTN will provide the following services through the Common GST Portal:
NGO is one among the familiar words in India which suggests money or treasure in many Indian languages like Tamil, Telugu, Kannada, Hindi etc., But consistent with Indian Financial Sector, NGO Company acts as a Mutual Benefit Company and it's also called with various names like Mutual Benefit Fund, Benefit Fund and Permanent Fund.
Requesting society registration by providing covering letter, signed by all establishing members. Duplicate copy of Memorandum of Association of society along with certified copy. Duplicate copy of Rules & Regulations of society along with duplicate copy duly signed by all establishing members.
-> Name Clause
-> Objectives Clause
-> Registered Office Clause
-> Details such as names, occupations and addresses of the Executive Body/Governing Body
What is GST?
Goods and Services Tax which is very well known as GST is an Indirect tax in India, implemented on 1st July 2017. GST is said to be a comprehensive tax, just because it is the one and only tax which has subsumed the existing taxes in India.
The taxpayers who supply goods with the annual turnover of rupees 40 lakhs and services with an annual turnover of rupees 20 lakhs has to apply for GST registration.
The Goods and Service Tax has helped streamline the taxation system in India. Since its introduction in 2017, GST has helped in digitising the taxation infrastructure by implementing various rules. The government GST portal is the website the government uses to display information regarding the GST. It also enables taxpayers to pay their GST liabilities and file their GST returns. Hence, all registered dealers must know how to log in to the GST portal. Are you confused regarding how to log in to the GST online portal? If so, then this article is perfect for you!
Today the world today is so well connected and linked that accessibility to any part of the world is very easy. Transactions between places, people, and countries take place on a daily basis. As a result, the flow of the foreign currency in and out of every country is now absolutely natural and an absolute commonality.
