The GST: A New Tax on the Supply Chain

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An indirect tax levied on products and services used for domestic consumption is known as the GST, or products and Services Tax. The Indian government launched the Goods and Services Tax as part of their 'One Nation, One Tax' initiative. On July 1st, 2017, this came into force. In India, the GST is applicable to all goods and services until and until the GST Council exempts them. All tax policy decisions are made by the GST Council. According to Article 279 of the Indian Constitution, it was established. At each step of the supply chain, GST is assessed. The Central Government (CGST) and the State Government (SGST) both levy GST.

When Must I Register In Patna For GST?

The following Patna business entities are required to register for GST and get a GSTIN:

  1. An intra-state company with a minimum annual revenue of INR 20 lakhs, excluding the special category states of Himachal Pradesh, Uttarakhand, the North East, and Jammu & Kashmir, where the threshold is INR 10 lakhs.

(Note: The cap is INR 40 lakhs if the taxpayer complies with the legal requirements and engages only in the supply of goods.) 

  1. any interstate business, regardless of profit.
  2. regardless of sales, all e-commerce businesses.
  3. No matter how much money it makes annually, a company needs a GSTIN to be eligible for an input tax credit.
  4. Businesses that operate in many states must obtain separate registrations.
  5. Unexpected Taxpayer Generating Taxable Supply.
  6. Those who have tax responsibilities related to reverse charge.
  7. Non-residents who generate taxable supplies are taxable.
  8. Those who, whether or not they have personally registered under this Act, are required to withhold taxes under Section 51 of the Income Tax Act.
  9. whether or not they are individually registered under this act, the distributor of input services.
  10. the individual who must pay taxes in accordance with Section 9(b)(5) of the Income Tax Act.

Describe GSTIN.

A GSTIN, or a Goods and Services Tax Identity Number, is a special 15-digit identifying number assigned to each taxpayer registered under the GST regime.An explanation of the GSTIN format is provided below:

  • The GSTIN's first two numbers out of the total 15 signify the state code.
  • The next 10 numbers represent the person's or company's PAN.
  • How many times the company has registered under the same PAN in a state is based on the thirteenth digit.
  • 'Z' will always be the fourteenth digit by default.
  • The check code, or last digit, is used to detect defects and can either be represented by a number or an alphabet.

Required Documentation For Registration

Following is the list of documents you will be needing, during the process of registration in Patna:

  • Date of formation of the company
  • Pan Cards of organisations, trusts, and societies;
  • Passport-size photos and PAN Cards of the company's promoters and partners
  • Contact Information, which includes the company's mailing address, phone number, and website address; 
  • Business Registration Number (BRN) and Identification Number (INN);
  • Types of Business Activities Performed by the Company; 
  • Purpose and Objectives of the Company;
  • Annual Turnover of the Company;
  • Types of Business Activities Performed by the Company in Prior Years

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What Is The GST Registration Step In Patna?

The process of GST Registration Services In Patna has been explained below:

  • The GST Portal must be used to submit applications: The GST Portal requires the applicant to input their PAN details along with their mobile number, email address, and place of registration. Once all of the documents have been validated, the applicant will be given a Temporary Reference Number (TRN).The applicant must send the additional papers using TRN.

  • Acknowledgement of the application: The applicant will receive an acknowledgement after the application has been received. After that, an officer will review the application and its supporting documentation.

  • Certificate of GST Registration Issue: A certificate of GST registration will be issued upon the conclusion of the verification and if the application is approved.

Gauransh Law Firm support 

The Gauransh Law Firm provides small to large enterprises in India with quick GST registration services in Patna. In order to make the registration procedure simple for you, our experts will help you through the GST portal's several challenging fields. Our experts are accessible to address your concerns and guide you through Patna's entire GST registration process.

For More Information About FSSAI Registration In Patna And Best Legal Services In Patna Please Visit:- Gauransh Law Firm.

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