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Follow on Google News | Hire GST Registration Consultants in AgraGoods and Service Tax (GST) is a destination based tax on consumption of goods and services.
By: FinacBooks GST stands for the Goods and Services by name is well known by everyone, but there are few things regarding GST which is hardly known by anyone. GST came into existence on 1st July 2017 in India. GST registration is necessary for the organizations whose turnover exceeds Rs. 40 lakhs (Rs 20 lakhs Northeastern States) is required to register its business as a tax liable person or business. This process is called GST registration. GST registration normally takes between 2–6 working days. We'll help you to register for GST in easy 3 steps. GST Registration is an online procedure where the GST Law suggests that any business person ought to get a unique number by the authority. This unique number is known as GSTIN which is a PAN-based 15-digit registration number and it is also possible to apply for a different GST Registration number for each state. Types of GST 1. CGST (Central Goods and Service Tax) 2. SGST (State Goods and Service Tax) o Annual Turnover above 40 Lakh (interstate business) o Annual Turnover above 20 Lakh (business in any special states) o Interstate Business o E-commerce Business o Required to pay under Section 9, sub-section (5) o Required to pay under reverse charge o Non-resident liable to pay taxes producing taxable supply 3. IGST is Integrated Goods and Services Tax Generally, the person effecting taxable supplies is liable to pay taxes. However, Import of service will be taxable in the hands of the recipient i.e., importer. https://www.finacbooks.com/ https://www.finacbooks.com/ About FinacBooks: FinacBooks is a leading Indian portal offering accounting, finance and taxation services to small businesses in India. In case you need assistance with the GST Return or GST Registration Cancellation you can arrange a call from FinacBooks business advisors at 8800221252 Contact: Address: 802, Aggarwal Cyber Plaza 1, Netaji Subhash Place, Pitampura, Delhi-110034 Email: info@finacbooks.com Phone: +91-8800221252 End
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