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1. PRESENTED BY DHIRAJ KAUSHIK 2. Goods and Services Tax is an Indirect Tax which has replaced many Indirect Taxes in India. Goods and Services Act was passed in…
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  • 1. PRESENTED BY DHIRAJ KAUSHIK
  • 2. Goods and Services Tax is an Indirect Tax which has replaced many Indirect Taxes in India. Goods and Services Act was passed in the Parliament on 29th March 2017. Act came into effect on 1st July 2017.
  • 3. GST eliminates the cascading effect of tax Simple and easy online procedure Unorganized sector is regulated under GST Improved efficiency of logistics
  • 4. Increased costs due to software purchase (ClearTax is the first company in India to have launched a ready-to-use GST software called Cleartax GST software). GST will mean an increase in operational costs. GST came into effect in the middle of the financial year GST is an online taxation system.
  • 5. Individuals registered under the Pre-GST Law. Business with turnover above the threshold limit of Rs.40 lakhs and Rs.10 lakhs for NE states and hill states. Casual taxable person and Non-resident taxable person. Person who supplies via e-commerce. Every e-commerce aggregator.
  • 6. PAN of the Applicant. Aadhaar card. Proof of business registration or incorporation certificate Identity and address proof of promoters/ director with photographs. Address proof of the place of business.
  • 7. Bank Account statement. Digital signature.
  • 8. Log in to the GST common portal ( www.gst.gov.in ). File GST registration form. We will receive an application reference number on our mobile and via E-mail. We will then need to fill the second part of the form and upload the required documents according to the business type.
  • 9. Finally a certificate of registration is issued to us by the department. The office may also reject our application if there any errors. We will be informed in Form GST REG -05 regarding the same
  • 10. An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10000. The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.
  • 11. THANK YOU
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