GST REGISTRATION

UNDERSTANDING GST REGISTRATION

gst registration in bangalore

GST or Goods and Service Tax is an indirect tax in India, applicable to the supply of products and providing of services. It is a comprehensive and multi-staged assessment. It has subsumed all the indirect taxes except a few. The tax is included in the final price and paid by consumers at the point of sale and passed to the government by the seller.

The GST registration in India is completely an online process. GST Registration affirms the seamless flow of Input Tax Credit in addition to providing recognition as a registered supplier.

Install our Small Business Accounting App and upload your GST bills. Additionally, you can obtain assistance with gst filing in Bangalore, partnership registration in Bangalore, Pvt ltd registration in Bangalore, and accounting and bookkeeping services in Bangalore.

BENEFITS OF GST REGISTRATION IN INDIA THROUGH MIBOOK

Composition Scheme for the small businesses:

Small businesses are benefitted as they can exercise the option for utilizing the composition scheme. The composition scheme has considerably brought down the compliance and the tax burden on small businesses. Mibook provides all the taxation services and keeps your business legally up to date.

GST registration has eliminated the cascading effect of Tax:

GST is a form of Indirect tax that is designed to subsume all the indirect taxes under one umbrella. GST has reduced the cascading effect of tax that was prevailing earlier. If your business is not yet registered and you are not getting the benefits of GST registration then acquire registration services at Mibook asap.

Improves efficiency of the logistics:

Under the Goods and Services Tax Act the restrictions on the interstate movement of the goods have been reduced considerably. This reduction in unnecessary logistics costs has improved the profits for the businesses that are involved in the supply of goods through transportation.

DOCUMENTS REQUIRED BY MIBOOK FOR GST REGISTRATION IN BANGALORE

Digital Signature: DSC of Partners or Directors, in case of LLP and Company only

Photograph: Copy of passport size photograph of the Proprietor/Partners /Directors

Entity’s PAN Card: A copy of the PAN Card of the business entity

PAN & Aadhar Card: A copy of the Aadhar Card of Proprietor/Partners/Directors

Business Address Proof: Latest Electricity bill/Any Tax paid bill/Municipal Khata Copy

Rent Agreement: If the place is rented a rent agreement is mandatory else consent letter is sufficient

Bank details: Latest Bank Statement/Copy of cancelled cheque/copy of the first page of passbook

Certificate of Registration: The entity should provide a registration certificate with MOA- AOA/LLP Agreement or Partnership Deed as applicable

gst registration consultants in bangalore

PROCESS AT MIBOOK- GST REGISTRATION CONSULTANT IN BANGALORE

Day 1

1. Consultancy for the requirement of GST Registration
2. Collection of basic Information & documents
3. Preparation of required documents
4. Share documents for Applicant’s Signature, if required

Day 2 - 3

1. Preparation of online application
2. Filing of registration application

Day 4 onwards

1. Government processing time
2. GST Registration Certificate*

WHAT ARE THE DIFFERENT TYPES OF GST PAYERS?

Normal Taxpayer

This category of GST registration in Bangalore applies to the taxpayers that are operating a business in India. Taxpayers that are registering as normal taxpayers do not require to deposit and are also provided with unlimited validity dates.

Composition Taxpayer

To register as a Composition taxpayer the individual is required to enrol under the GST composition scheme. The taxpayers enrolled under the composition scheme can pay a flat GST rate. But the taxpayers opting for the composition scheme are not allowed to claim the input tax credit.

Casual taxable person

A taxpayer that is establishing a stall or a seasonal shop should register under the casual taxable person. Here the taxpayer is required to deposit an amount equal to the GST liability. The liability is required to match the active registration periods. The registration is active for 3 months.

Non-resident Taxable Person

The category of the non-resident taxable person applies to the individuals that are located outside India. To register as a casual taxable person the taxpayer is required to deposit an amount that is equal to the amount of the GST liability. The liability is required to match against the active registration periods. The registration for the Non-resident taxable person is valid for 3 months.

HOW GST REGISTRATION IN BANGALORE IS HELPFUL FOR YOUR BUSINESS

Taking the help of GST registration consultants in Bangalore to comply with GST registration offers your business immense benefits and helps your business become more competitive and sound.

Gain Government Tenders

Most of the government tenders require GSTIN to apply for. If you don’t have one, you may miss a great business opportunity.

Trading on Ecommerce sites

Without a GST registration in Bangalore, one can not sell their services through an eCommerce site which is becoming a major part of our Indian market. If your business has registered GST then you have an opportunity to sell your products/service through top eCommerce sites in India.

Trade anywhere in India

Having a GSTIN allows you to trade inter-state. So getting your business registered for GST adds this bonus to your business.

Earn input tax credit

Only the businesses that have registered for GST in Bangalore can avail of input of GST tax paid on their purchases and save the cost.

Comparision

gst registration in bangalore