GST Registration Requirements in India - PowerPoint PPT Presentation

About This Presentation
Title:

GST Registration Requirements in India

Description:

Here you can get step by step information guide of GST Registration and GST Registration requirements in India. – PowerPoint PPT presentation

Number of Views:96
Slides: 13
Provided by: enterslice

less

Transcript and Presenter's Notes

Title: GST Registration Requirements in India


1
GST Registration Requirements
  • A Guide to GST Requirements in India by
    Enterslice

Copyright 2017 Enterslice ITeS Private Limited.
Share Alike. Attribution Required.
2
The steps are as follows
Create a login account on the GST website to
initiate the registration process. The
requirements for this are email, PAN, mobile
number. (GSTN portal).PAN will be verified
automatically online. These details are to be
filed in form PART 1 of GST REG-01.
3
The steps are as follows
Submit the application form once the
verification is done, one has to fulfill the
registration form. Documents required for GST
Registration are- Photograph- Constitution of
taxpayer (Partnership deed, COI, etc.)- Proof of
principle place of business (electricity bill,
NOC, rent agreement)- Bank Account details
4
The application through FORM GST REG 02.
5
Verification by GST officer
  • Once the application is filled and submitted,
    then it shall be forwarded to the proper officer
    who will then examine the application and the
    documents attached. If everything is found to be
    in order, then GST registration will be granted
    within 3 working days.
  • If any deficiency is found in the application,
    then it shall be communicated to the applicant
    within 3 working days in FORM GST REG-03.
  • After getting the deficiencies, the
    applicant will have to respond within 7 working
    days through FORM GST REG-04.

6
Verification by GST officer
  • No action within 3 working days If the officer
    does not respond to you either with deficiencies
    or approval then the application for grant of
    registration shall be deemed to have been
    approved.
  • Registration Certificate When the application is
    approved by the officer, then a certificate of
    registration in FORM GST REG-06 shall be issued
    through a common portal. The applicant can easily
    download the registration certificate from the
    common portal using their login id passwords.

7
Verification by GST officer
  • Separate registration for each branch If you
    have different branches in different states, then
    separate registration needs to be applied for
    each state.
  • A registered taxable person eligible to obtain a
    separate registration for business verticals may
    file separate application in FORM GST REG-1 in
    respect of each such vertical.

8
GST Tax Rate
  • A four-tier GST tax structure of 5, 12, 18 and
    28, with lower rates for essential items and the
    highest for luxury and de-merits goods that would
    also attract an additional cess.Essential items
    including food, which presently constitute
    roughly half of the consumer inflation basket,
    will be taxed at zero rate.
  • The lowest rate of 5 would be for common use
    items while there would be two standard rates of
    12 and 18 under the Goods and Services
    Tax (GST) regime targeted to be rolled out from
    April 1, 2017.

9
Difference between VAT and GST
10
Difference between VAT and GST
  • In VAT only goods are taxable, but in GST the
    difference would have vanished.
  • GST is the summation of all the indirect taxes
    that are levied in India.
  • VAT is applied to tangible goods, and GST is
    applied to both Goods and Services. VAT is
    applicable for goods sold and not service.
    Service tax takes care of services rendered.
    However, GST will be applicable for both products
    and services , and will have a uniform pricing.
  • GST is going to be both central and state tax,
    (there will be two components in GST, CGST, and
    SGST)

11
How can I convert my VAT no to GST no?
If you get yourself registered under VAT, youll
be automatically migrated to GST network, thus
you will not have to do the complete process
again. Thus, as GST is just a takeover of VAT
number will be re-registered into GST
automatically at a later point of time
12
Making Starting and managing business easier
Enterslice is Cloud based CA and Legal Platform
driven by AI
GET FREE CONSULTANCY
Customer Helpline 91 9069142028 (IVR) Email
info_at_enterslice.com Website www.enterslice.com
Write a Comment
User Comments (0)
About PowerShow.com