There are four types of GST: Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). Each type has a different taxation rate.

Listed are the benefits of GST registration: Eliminates the cascading effect of tax Composition scheme for small business Simple and easy online procedure Defined treatment for e-commerce operators The number of compliances is lesser Improved efficiency of logistics The unorganised sector is regulated under GST.

Yes, the Goods and Services Tax (GST) is applicable to all providers of services, manufacturers, and traders. It extends to any dealers, bloggers and writers, import-export businesses, all kinds of startups and companies, whether they are LLPs, proprietorships, partnerships, or private limited companies.

GST registration usually takes between 5-7 working days.

If a business operates in multiple states, the taxpayer is required to individually register for GST in each state. For example, if an automobile company sells in both Karnataka and Tamil Nadu, it must apply for GST registrations separately in both states.

Businesses involved in the sale of goods whose turnover exceeds ₹40 lakhs (₹20 lakhs for north-eastern and hill states) are required to register as a normal taxable person. For service providers, the threshold is ₹20 lakhs (₹10 lakhs for states in the North-east and hilly regions).

Yes, even if your annual turnover does not exceed the threshold limit (40/20 lakhs), you can voluntarily register for GST. Registering for GST not only ensures that your business is acknowledged as a legitimate registrant, but it also grants you access to a wide range of advantages and benefits, such as the ability to raise GST invoices, take advantage of input tax credits, and much more.

Some of the important documents required for GST registration are: PAN card Aadhaar card Proof of business address Proof of incorporation of business MoA & AoA Passport-size photograph ID and address proof for all directors with photographs Digital Signatures Authorization details Bank account details Board resolution

To download the GST registration certificate, you need to log in to your account with your credentials on the GSTN online portal. After successfully logging in you will see the option "services", click on that and a dropdown menu will appear. Select the download certificate option, enter your ARN number to confirm, and you will be able to download the GST registration certificate.

The composition scheme was implemented to reduce the burden of compliance for small taxpayers, enabling them to submit quarterly returns instead of monthly returns. Any taxpayer with a total turnover of less than 1.5 crores is eligible to choose this scheme.

A reverse charge refers to the obligation to pay taxes or GST (Goods and Services Tax) when receiving a supply of goods and services, rather than when providing specific notified categories of goods and services.

The EWay Bill is a distinctive electronic waybill that a person registered under the Goods and Services Tax (GST) system must obtain when transporting goods in a vehicle worth more than Rs. 50,000. You can do e-Way bill registration through e-Way Bill Portal (https://ewaybillgst.gov.in/).

No, A person who is not registered for GST cannot avail any input tax credit for the GST paid by them or collect GST from their customers.

The cancelled GST Registration can be revoked through the online and offline process within 30 days of cancellation. You need to file an application for revocation of your cancelled GST registration attaching all necessary documents and provide a sutable reason for the re-activation. If the GST officer finds everything satisfactory, he may re activate the GST registration.

No, GST is not charged on exported goods and services. GST is a tax based on consumption and since in the case of export, the goods/services are not consumed in India, it is not taxed.

Yes, if your business operates in two distinct states, you are required to separately register for Goods and Services Tax (GST) in both states.The same goes for multiple states.

The Goods and Services section of the new registration application form has a built-in online utility that will help you select the HSN Code. Simply start typing the type of product under Search HSN Chapter by Name or Code and there will be a dropdown from which you can select the relevant chapter. Once you have chosen the chapter, begin entering the product name in the HSN Code Search field and select the appropriate type. The application will automatically fill in the HSN Code for the goods. You can repeat this process if you need to enter details for multiple goods.

You can register multiple businesses under a single GST registration in the same state, but you cannot use two different trade names for them.

If your application for GST registration has been declined, you will be given an opportunity to respond to the rejection letter. However, if you decide to submit a new application, you will need to wait for a final rejection, which typically takes approximately 10 days.

The GST department has issued a code for every product and service (for products - HSN code, for services - SAC code). Based on the code, the GST rate has to be identified.