Online GST Registration in Bangalore Karnataka

In order to run a country, it is very necessary for the government to have enough funds. The availability of funds or money can help the country to grow economically and also raise the standard of living of people. The first question arises in mind is that where these funds come from. It comes from a financial contribution levied on a citizen of India by the government called tax.

In other words, tax is a financial contribution imposed on the citizen of the country by government in order to fund various types of public expenditure for example construction of public transport, roads, parks, etc.

There are two types of tax structure in India that are direct and indirect taxes. The central government and state government are the main authorities which levy tax on the citizen of India. Some taxes are also levied by the local authorities such as the municipality and local government. In recent times, many types of tax reforms have been taken by the central government and state government. One of the major reforms by the Indian government is GST (Goods and Service Tax). In this article, I will focus on Online GST registration in Bangalore Karnataka. Before discussing GST registration in Bangalore, it is important to know what GST is.

 

What is GST (Goods and service tax)? By Online GST Registration in Bangalore Karnataka

The goods and service tax (GST) is one indirect tax for the whole nation, which makes India one unified common market. It has replaced all the indirect taxes such as Value Added Tax (VAT), Service Tax, Sale tax, etc. GST was passed in the parliament on 9th March 2017 and came into effect on 1st July 2017. It is a destination based tax levied on sale, manufacturing, and usage of goods and services, right from the manufacturer to customers. The credits of the input taxes that are paid at each stage will be available in the subsequent stage of value addition which makes GST essentially a tax only on the value addition on each stage. The consumer of goods and services will bear only the GST charged to the last dealer in the supply chain.

In GST definition can be shortened in three points that are:

  • GST is said to be multi-stage as it is charged at all the level of the supply chain i.e. in the purchase of raw materials, manufacture of goods, storage of goods, sale of goods to wholesaler and so on.
  • It is value addition i.e. GST will be levied on value addition and the burden of tax is to be borne by the final consumer in the supply chain.
  • It is destination based tax i.e. GST is levied at the point of consumption. For example, if goods are supplied from Jamshedpur to Pune and if the consumption of these goods takes place in Pune then the entire tax revenue will go to Pune and not Jamshedpur.

GST was introduced to remove ‘tax on tax’ burden and to create one tax one nation policy.

 

Know About DIRECT AND INDIRECT TAX by Online GST Registration in Bangalore Karnataka Portal

As discussed earlier, the tax structure in India is divided into two types that are a direct and indirect tax.

Direct tax

Taxes that are not directly imposed on the general citizen and organization of the country are known as a direct tax. In the direct tax, the tax is levied on the income and wealth of an individual and organization of the country and the burden of tax cannot be shifted to other taxpayers.

Income tax is one of the direct taxes. A citizen of India has to pay a partial amount of his/her income as a tax to the government of India.

Indirect tax

Taxes that are not directly levied by the government on income but on goods and services are known as indirect tax. The burden of tax can be easily shifted from one taxpayer to another.

Before the implementation of the goods and service tax (GST), there was various indirect tax such as sale tax, customs duty, Value added tax, etc. In our present economy, GST is an example of an indirect tax in India.

Direct and Indirect tax is a very important source of revenue generation of government and as well as the economy of the country. Therefore to get a clear picture, it is necessary to discuss the difference between direct and indirect taxes.

Following is the difference between direct and indirect tax:

  • Direct taxes are imposed on the income or profit whereas indirect taxes are imposed on goods and services.
  • Direct taxes are usually paid by an individual, firm, the Hindu Undivided Family and companies whereas indirect taxes are paid by the final consumer of goods and services.
  • The tax burden in case of direct tax is on an individual whereas the tax burden in case of indirect tax is easily shifted to manufacturer or service provider of goods and services to the customers.
  • Direct tax is applicable to the taxpayer only whereas indirect tax is applicable to every stage of production and supply chain.
  • A direct tax cannot be transferred to anyone else whereas indirect tax can be easily transferred.
  • Direct tax is confined to an entity or an individual whereas in indirect tax whole citizens of the country have to pay tax.
  • Tax evasion is easily possible indirect tax whereas tax evasion is not possible in indirect tax.
  • Direct tax helps in reducing inflation whereas indirect tax helps in increasing inflation.
  • In direct tax, the mode of progress is progressive i.e. reduces inequality whereas in indirect tax it is regressive i.e. increases inequality.
  • Direct tax discourages investment and lessens savings whereas indirect tax is growth-oriented and encourages savings.

 

GST REGISTRATION IN BANGALORE KARNATAKA – Short Brief on by Online GST Registration in Bangalore Karnataka Portal 

GST is an indirect tax which has subsumed all the previous indirect tax. Online GST registration in Bangalore Karnataka is essential as it is necessary to have an identification of a taxpayer. (That is the person who is paying GST). Under GST law, Online GST registration in Bangalore Karnataka means obtaining a unique identification number from the tax authorities for the purpose of collecting tax and to avail input tax credit for the taxes in inward supplies. In other words, all the business entities are required to get them registered and obtain a GST identification number in every state where the business is established and registered.  Without Online GST registration in Bangalore Karnataka, an individual and business entity can neither collect tax nor claim any tax credit input.

 

Person liable to obtain GST registration in Bangalore Karnataka (Section 22)

As per the section 22 of the Central Goods and Service Act, 2017, states that suppliers of all the state and Union Territories other the special category state ( Assam, Manipur, Sikkim, Mizoram, Meghalaya, Uttarakhand, Tripura and Nagaland) shall be liable to get themselves registered if their turnover exceeds 20 lakhs.

[Section 22(1) of the act states that suppliers of the special category state shall be liable to get themselves registered if their turnover exceeds 10 lakhs. Section 22(2) states that every person who is earlier registered or holds a license under existing law (that is previous indirect taxes) must get themselves registered under the act. Section 22(3) states that the business of a taxable person is transferred to another person then the transferee must get himself registered with the effect from the date of such transfer or succession. Section 22(4) states that in case of any demerger or amalgamation of the two companies on the order of high court or tribunal, the transferee must be liable to be registered under the act with effect from the date on which the Registrar of Companies issues a certificate of incorporation giving effect to order of the High Court or Tribunal.]

According to the recent amendment, the threshold limit for registration in case of goods for all states and union territories except Assam, Manipur, Sikkim, Mizoram, Meghalaya, Uttarakhand, Tripura, and Nagaland is Rs. 40 lakhs and in case of services the threshold limit is Rs. 20 lakhs.

 

A person not liable to obtain GST registration in Bangalore Karnataka

Section 23 (1)(a) states that any person who is exclusively engaged in the supplying of goods and services or both are not liable to pay tax.

Section 23(1)(b) states that any agriculturist, to the extent of supply of produce out of cultivation of land is not liable.

Section 23(2) states that the government by notification on the recommendation of the council may specify the category of persons who may be exempted from obtaining registration under the act.

 

Compulsory registration By Online GST Registration in Bangalore Karnataka (Section 24)

Section 24 of the Central Goods and Services Tax, 2017 mentions the provisions of compulsory GST registration.

  • [Taxable person carrying on interstate supplies.
  • Casual and non-resident taxable persons
  • Businesses are liable to pay tax under reverse charge.
  • Agents supplying on behalf of a taxable person
  • Input service distributor
  • Sellers on e-commerce platforms
  • .All e-commerce operators
  • A person supplying online information and database access or retrieval services from outside India to an unregistered person in India
  • Persons responsible to deduct TDS]

 

TYPES OF GST (Goods and Service tax) Explained by Online GST Registration in Bangalore Karnataka Portal

There are three types of GST which are explained in detail below-

Central Goods and Service Tax (CGST)

CGST is a tax that is imposed on the supply of goods and services within the state by the central government. All the provisions regarding CGST are governed by CGST Act.

State Goods and Service Tax (SGST)

SGST is a tax that is imposed on the supply of goods and services within the state by the state government and is governed by the SGST Act.

In Intra State supply of goods and services that are the supply within a state, both CGST and SGST is imposed by the central government and state government respectively. For example, in an Intra State supply of goods in Jharkhand GST is charged at the rate of 18%. So here 9% is CGST and 9% is SGST. Therefore both the central and state government divides their tax revenue.

Integrated Goods and Services Tax (IGST)

IGST is a tax that is imposed on the Inter-State Supply of goods and services from one state to another and is governed by the IGST Act. For example, if the goods are supplied from one state to another, IGST will be charged and the charged tax revenue from IGST is shared by both the central and state government.

 

RECENT GST RATE SLABs – Explained By Online GST Registration In Bangalore Karnataka

Under the GST tax regime, there four slab rates in which goods and services are taxable i.e. 5%, 12%, 18%, and 28%.

The government has exempted various goods and services from these four slab rates. In other words, there are various goods and services that are exempted from taxation or come under ‘no tax’ slab.

Taxes will be imposed on goods like [deities made of stone, sanitary napkins, marbles or wood, rakhis without any precious metals like gold, silver, raw material used in brooms, saal leaves and fortified milk, fruits, vegetables, bread, salt, bindi, curd, sindoor, natural honey, bangles, handloom, besan, flour, eggs, stamps, printed books, judicial papers, newspapers.]

Taxes will not be imposed on services like IMM courses, bank charges on a savings account, Jan Dhan Yojana and the hotels which carry tariff below Rs. 1000.

The table below states goods and services under various slab rates:

5% GST Tax Slab 12% GST Tax Slab 18% GST Tax Slab 28% GST Tax Slab
  • Sugar
  • Tea
  • Sliced Mango
  • Ayurvedic Medicine
  • Skimmed milk
  • ICDS Food Packages
  • Milk food for babies
  • Edible Oils
  • Khakra & Plain Chapati
  • Roasted coffee beans
  • Packed paneer
  • Frozen vegetables
  • Cashew nuts
  • Spices
  • Unbranded Namkeen
  • Pizza bread
  • Rusk
  • Sabudana
  • Fish fillet
  • Packaged food items
  • Fertilizers
  • Footwear up to ₹1,000
  • Apparels upto₹1,000
  • Real Zari
  • Agarbatti
  • Domestic LPG
  • Straw, basketware articles, Esparto
  • Velvet Fabric (No Input Tax Refund)
  • Tamarind Kernel Powder
  • Mehndi Paste
  • Scientific and technical instruments
  • Floor covering
  • Plastic Waste
  • Satellites and payloads
  • Ethanol- Solid biofuel pellets
  • Handmade carpets and other handmade textile floor coverings
  • Hand-made braids and ornamental trimming in the piece
  • Coir mats
  • Rubber Waste
  • Matting
  • Insulin
  • Paper Waste
  • Medicines
  • Stent
  • Braille watches
  • Braille typewriters
  • Cullet or Scrap of Glass
  • Braille paper
  • Hearing aids
  • Postage stamps
  • Biomass
  • Briquettes
  • Revenue stamps
  • First-day covers
  • Special flights for pilgrims (Economy Class)
  • Stamp-post marks
  • Ghee
  • Butter
  • Fruit juice
  • Almonds
  • Sugar boiled confectionery
  • 20-litre packaged drinking water bottle
  • Drip Irrigation System
  • Biodiesel and select biopesticides
  • Mechanical Sprayers
  • Handbags including pouches and purses
  • Jewelry box
  • Wooden frames for painting
  • Photographs
  • mirrors etc,
  • Ornament framed mirrors
  • Brass Kerosene Pressure Stove
  • Art ware of iron
  • Hearing aid parts and accessories
  • Bamboo wood building joinery
  • Packed coconut water
  • Fertilizer-grade Phosphoric Acid
  • Preparations of vegetables
  • Fruits
  • Pickle
  • Murabba
  • Chutney
  • Jam
  • Jelly
  • Namkeen
  • Bhujia,
  • Frozen meat products
  • Packaged dry fruits
  • Animal fat sausage,
  • Non-AC restaurants
  • State-run lotteries
  • Exercise books
  • Notebooks
  • Work contracts
  • Apparel above ₹1000
  • Powder
  • Spoons
  • Umbrella
  • Cake servers
  • Sewing machine
  • Ladles
  • Forks
  • Tongs
  • Skimmers
  • Fish knives
  • Mobile
  • Manmade Yarn
  • Diagnostic kits & reagents
  • Nil Sewing Thread of manmade filaments
  • Sewing Thread of Manmade Staple Fibres
  • Glasses for corrective spectacles and flint buttons
  • Special flights for pilgrims (Business Class)
  • Movie tickets priced below ₹100
  • Playing cards
  • Ludo
  • Carom board
  • Chess boards
  • Biscuits
  • Flavored refined sugar
  • Movie tickets priced above ₹100
  • Monitors and television screens
  • Tyres
  • Power banks of lithium-ion batteries, small sport related items, video games, carriage accessories for disabled
  • Washing machine
  • Vacuum cleaner
  • Cakes
  • Pastries
  • Preserved vegetables
  • Soups
  • Suitcase
  • Vanity case
  • Briefcase
  • Chocolates
  • Ice cream
  • Chewing Gum/Bubble Gum
  • Pasta
  • Instant food mixes
  • Corn flakes
  • Curry paste
  • Mayonnaise
  • Salad dressings
  • Mixed condiments
  • Mixed seasonings
  • Branded garments
  • Footwear priced above ₹500
  • Headgear
  • Soap
  • Hair oil
  • Deodorants
  • Preparation for facial make-up
  • Shaving
  • After-shave items
  • Shampoo
  • Washing Powder
  • Detergent
  • Toothpaste
  • Toiletries
  • Kajal pencil sticks
  • tissues
  • computers
  • printed
  • circuits
  • printers
  • monitors
  • camera
  • speakers
  • CCTV
  • Electrical transformer
  • Optical fiber
  • Bidi Patta
  • Mineral water
  • Tissues
  • Poster Colours
  • Modeling Paste for Children
  • Envelopes
  • Some parts of pumps
  • Steel products
  • Plain Shaft Bearing
  • Stationery items like clips
  • Washing and cleaning preparations
  • Paint
  • Water Heaters
  • Hair Shavers
  • Hair Curlers
  • Hair Dryers
  • Scent Sprays
  • Lithium-ion batteries
  • Varnishes
  • Safety glass
  • Glassware
  • Sheets
  • Fans
  • Light fitting
  • Compressors
  • Pumps
  • Sanitaryware
  • Leather clothing
  • Wristwatches
  • Stoves
  • Cutlery
  • Cookers
  • Juicer Mixer
  • Telescope
  • Binoculars
  • Googles
  • Artificial flowers
  • Artificial fruits
  • Follage
  • Physical exercise equipment
  • Musical instruments and their part
  • Electrical boards, panels, and wires
  • TV
  • AC
  • Fridge
  • Razor and razor blades
  • Multi-functional printers
  • Cartridges
  • Aluminum frames
  • Windows
  • Door
  • Water Coolers
  • Water Heater
  • Some Diesel engine parts
  • Stones used in flooring, marble & granite
  • Weighing machinery (non-electrical or electronic)
  • Aluminum foil Furniture
  • Bamboo
  • Bio-fuels Powered Buses
  • Cigarette Filter Rods
  • Second-hand large and medium cars and SUVs
  • Padding pools Swimming pools
  • Waffles and wafers coated with chocolate
  • Sunscreen
  • Dye
  • Hair clippers
  • Ceramic Tiles
  • Wallpaper
  • Dishwasher
  • Automobiles Motorcycles
  • Aircraft for personal use
  • Pan masala
  • Tobacco
  • Cigarette
  • Bidis
  • Cement
  • Yachts
  • Weighing machine ATM
  • Vending machines
  • Aerated water
  • Waffles and wafers coated with chocolate
  • Sunscreen
  • Dye
  • Hair clippers
  • Ceramic Tiles
  • Wallpaper
  • Dishwasher
  • Automobiles Motorcycles
  • Aircraft for personal use
  • Pan masala
  • Tobacco
  • Cigarette
  • Bidis
  • Cement
  • Yachts
  • Weighing machine ATM
  • Vending machines
  • Aerated water

 

Tax Slab rate list on various services – By Online GST Registration In Bangalore Karnataka 

5% GST Slab

  • [GAC and Non AC Restaurants
  • Takeaway Food
  • Restaurants in hotels with a room tariff less than ₹7,500 (no input credit for these restaurants)
  • Transport services like railways and airways
  • Transport of passengers by air in economy classes
  • Supply of tour operators’ services
  • Selling of space for advertisement in print media
  • Small restaurants with a turnover of Rs. 50 Lakhs
  • Transport of passengers by motor cabs and radio taxis
  • Tailoring services
  • house-keeping service providers (No input credit available)
  • Crude and petroleum product transportation
  • Job work for footwear and leather goods

12% GST Slab Rate

  • Business class air tickets
  • Hotels, inns, guest houses, which have a room tariff of Rs.1000 and above but less than Rs.2500 per room per night
  • Metro and monorail construction
  • Mining and drilling for crude or natural gas
  • Common effluent treatment plants

18% GST Slab Rate

  • Restaurants in hotels with tariff at over ₹7,500
  • Actual bill of hotel stay below ₹7,500
  • Outdoor Catering (input tax credit to be available)
  • Hotels, inns, guest houses, which have a room tariff of Rs.2500 and above but less than Rs.5000 per room per night
  • IT services
  • Telecom services
  • Theme parks, water parks and alike

28% GST Slab Rate

  • Race club betting & gambling
  • Actual bill of hotel stay above ₹7,500
  • Five-star Hotels
  • Entertainment & Cinema
  • Hotels, inns, guest houses, which have a room tariff of Rs.5000 and above per room per night

 

PROCESS OF ONLINE GST REGISTRATION IN BANGALORE KARNATAKA 

According to section 24 of the Act provisions regarding online GST registration in Bangalore Karnataka are as follows:

  • Every person is liable to be registered within 30 days in every state and union territory from the date on which he becomes liable. A casual taxable person or a non-resident taxable person must apply for registration at least five days prior to the commencement of business. In the case of supply from territorial waters, registration must be obtained from state or union territory nearest to the baseline.
  • A single registration is granted under the act to a person seeking registration in a State or Union territory. A person having multiple vertical businesses in state or union territory is grant separate registration for each vertical business.
  • A person who is not liable for online GST registration in Bangalore Karnataka can voluntarily register themselves under the act and the provision of such activities will be applicable to such a person as it is applicable to a registered person.
  • A person is treated as a distinct person under the act who is required to obtain more than one registration in different states.
  • A person who has obtained online GST registration in Bangalore Karnataka for an establishment in a particular State or Union territory  and also has an establishment in another state or union territory, then such establishment will be treated as an establishment of a distinct person under the Act
  • In order to be eligible for grant of registration, a person shall have a permanent account number issued under the Income-tax Act, 1961
  • Registration to a person will be granted on the basis of various documents as may be prescribed.
  • If a person fails to obtain Online GST registration in Bangalore Karnataka, the proper officer may proceed to register such a person.
  • A person or class of persons, as may be notified by the commissioner must be granted with Unique Identity Number
  • The registration or Unique Identity Number must be granted or rejected after the verification of prescribed documents in a prescribed manner within such time period as may be prescribed.
  • A online GST registration in Bangalore Karnataka certificate must be issued after due verification.

 

REASONS FOR ONLINE GST REGISTRATION IN BANGALORE KARNATAKA

Online GST registration in Bangalore Karnataka is very important as it gives identifications to the suppliers in the market and helps them to avail tax credit inputs. To make it easy for people and entity online registration in India is done alone so that a person sitting at home can take benefit of GST registration in Bangalore Karnataka.

From registration to the filling of returns everything is online in regard to online GST registration in Bangalore Karnataka.

There are various reasons for online registration in India which are explained below –

 

  • Removal of cascading effect of taxes

 

One of the benefits of online GST registration in Bangalore Karnataka is to remove the cascading effect of taxes that means to remove ‘tax on tax’ burden on suppliers and customers of the goods and services.

 

  • Less complex and simple

 

Online GST registration procedure via the Online GST registration in Bangalore Karnataka portal is less complex and any layman can easily fill the various prescribed form in the prescribed format.

 

  • Filling returns

 

One of the advantages of online GST registration in Bangalore Karnataka is that an individual or a person can easily file returns online.

 

  • Easily accessible

 

Online GST registration in Bangalore Karnataka is easily accessible as a person sitting at home or anywhere can get GST registration. A person need not have to go to offices or wait for long hours for registration.

 

  • Competitive advantage.

 

A person getting online GST registration in Bangalore Karnataka can easily show people that he has a registration certificate. One who can get himself registered online earlier can have the advantage of other competitors in the supply of goods and services.

 

BENEFIT OF ONLINE GST REGISTRATION IN BANGALORE KARNATAKA

  • Legal entity

Online GST registration in Bangalore Karnataka gives an individual or a company a valid legal entity registration so they can show valid proof to any other individual or a company.

  • Input tax credit

An individual or a company who has taken GST registration in Bangalore can easily avail the input tax credit during the purchase of goods and services.

  • Inter-State Sale

An individual or a company that has acquired GST registration in Bangalore can easily sell their goods and services from one state to another. In other words, there will be no difficulty in the Inter-State supply of goods and services.

  • Easy online sale

Once a person gets a GSTIN registration number then he/she can easily sell goods and services with e-commerce portals like Flipkart, etc.

  • Government Projects

While applying for any type of government projects and tender there is a requirement of GST registration.

These advantages mention herein above shows that GST registration in Bangalore is mandatory. A person having GST registration can avail various benefits such as input tax credit, easy online business, government projects, etc.

 

DOCUMENTS REQUIRED FOR ONLINE GST REGISTRATION IN BANGALORE

Different documents are required on the part of the different entities to be shown in order to get GST registration in Bangalore. Therefore following are the documents required for GST registration –

Documents for Individual or Sole Proprietorship

  • [PAN Card
  • Aadhar Card
  • Photograph of sole proprietor
  • Bank account details that are a bank statement or canceled cheque
  • A letter of authorization
  • Address proof of own office that is a copy of electricity bill or landline bill or water bill, etc
  • Address proof of rented office that is no objection certificate and rent agreement.

Documents required for Partnership /Limited Liability Partnership agreement

  • Aadhar card, PAN card, and a photograph of all partners.
  • Bank statements or a copy of the canceled cheque.
  • Address proof of principal place of business and additional place of business in form of a copy of electricity bill or landline bill or water bill in case of own office and no objection certificate and rent agreement in case of rented office.
  • A letter of authorization
  • In case of limited liability partnership, copy of board resolution and registration certificate of incorporation.

Documents required for Private Company/ Public Company/ One Person Company

  • PAN card of the company
  • Registration Certificate of the company
  • Memorandum of Association (MOA) /Articles of Association (AOA)
  • PAN card, photograph and aadhar card of all Directors
  • Bank details – a copy of the canceled cheque or bank statement
  • Address proof of Principal place of business and additional place of business:-

Own office – Copy of electricity bill or landline bill or water bill or municipal khata copy or property tax receipt

Rented office – Rent agreement and No objection certificate (NOC) from the owner

  • Proof of appointment of an authorized signatory that is a letter of authorization.

Documents required for the Hindu Undivided Family

  • PAN card of HUF
  • Photograph, Pan Card and aadhar card of Karta
  • Address proof of Principal place of business and additional place of business :

Own office – Copy of electricity bill or landline bill or water bill or municipal khata copy or property tax receipt

Rented office –  Rent agreement and No objection certificate (NOC) from the owner.

  • Bank details- a copy of the canceled cheque or bank statement

Documents required for society or trust

  • Pan Card of society or Trust or Club
  • Registration Certificated
  • Photo and PAN Card of Promoter/ Partners
  • Bank details- a copy of the canceled cheque or bank statement
  • Address proof of registered office :

Own office – Copy of electricity bill or landline bill or water bill or municipal khata copy or property tax receipt

Rented office – Rent agreement and No objection certificate (NOC) from the owner

  • Proof of appointment of authorized signatory- letter of authorization]

 

ADVANTAGES OF GETTING GST REGISTRATION CERTIFICATE IN IN INDIA

On getting GST registration in Bangalore, an individual or a company is issued with a GST registration certificate. GST registration certification basically acts as legal proof that an individual or a company has GST registration.

  • GST registration certificate gives identification to suppliers of goods and services.
  • GST registration certificate acts as proof that an individual or a company has legal GST registration.
  • On the basis of the GST registration certificate, it will be easy to do business with e-commerce portals like Amazon, etc. As GSTIN registration number is required.
  • On the basis of the GST registration certificate, if an individual or a company can easily apply for various government projects and tenders.
  • An individual or company can easily avail input tax credit by showing the GST registration certificate.
  • A person can collect tax only if he has GST registration and has a registration certificate.
  • If one has a GST registration certificate then a person can easily avail various other benefits and privileges under GST law.
  • A GST registration certificate with a supplier can help in the Inter-State supply of goods and services.
  • If an individual has GST registration and a valid certificate, one can take advantage of composition scheme i.e. small business can get benefit by lowering tax.
  • GST registration certificate enables an individual to deal with less number of compliances as there is only one GST return to be filled.

 

FAQ RELATED TO GST REGISTRATION IN BANGALORE

GST is value addition, multi-stage and destination based tax. It has subsumed all the indirect taxes and has made one unified tax regime in India that is ‘one nation one tax’.
There are various advantages of getting GST registration –
  • It gives legal recognition to the suppliers of goods and services.
  • It gives legal authority to people to collect tax and to avail input tax credits.
  • It helps in easy Inter- State supply of goods and services.
  • It helps to enter e-commerce business and government tenders easily.
In recent amendment threshold limit for GST registration for suppliers in all state except Assam, Manipur, Sikkim, Mizoram, Meghalaya, Uttarakhand, Tripura, and Nagaland is Rs. 40 lakhs in case of goods and Rs. 20 lakhs in case of service. In the case of goods, the states will be given time to select a threshold limit of Rs. 40 lakhs or Rs. 20 lakhs In the case of special category states, the threshold limit is Rs. 10 lakhs.
No, a person without GST registration can neither collect tax nor avail input tax credit.
As per section 2 (6) of the MGL, aggregate turnover includes the aggregate value of: (i) all taxable and non-taxable supplies, (ii) exempt supplies, and (iii) exports of goods and/or services of a person having the same PAN. The above shall be computed on all India basis and excludes taxes charged under the CGST Act, SGST Act, and the IGST Act. Aggregate turnover does not include the value of supplies on which tax is levied on the reverse charge basis and value of inward supplies.

Any person has to take GST registration within thirty days from the date he/she becomes liable to get it registered.
  1. Who are the persons who need to have compulsory GST registration in Bangalore?
  1. [persons making any inter-State taxable supply;
  2. casual taxable persons;
  3. persons who are required to pay tax under reverse charge;
  4. electronic commerce operators required to pay tax under sub-section (5) of section 9;
  5. non-resident taxable persons;
  6. persons who are required to deduct tax under section 51;
  7. persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise;
  8. Input service distributor (whether or not separately registered under the Act)
  9. persons who are required to collect tax under section 52;
  10. every electronic commerce operator
  11. every person supplying online information and database retrieval services from a place outside India to a person in India, other than a registered person; and.
  12. such other person or class of persons as may be notified by the Central Government or a State Government on the recommendations of the Council.
Yes, as per Section 25(2) of the CGST Act, any person having a vertical business in the state can obtain GST registration for each business.
Yes, GST registration granted to a person is permanent unless the registration is suspended and canceled.
The penalty for non-registration is 10% of the tax due or Rs.10, 000 whichever is higher.

 

CONCLUSION

GST is one of the biggest reforms in the Indian tax regime by the Indian government. It is expected that GST will benefit the economy in various ways. Removal of ‘tax on tax’ or cascading effect tax by the introduction of multi-stage, destination-based and value addition GST will reduce inflation in the market. The exports will also grow and Foreign Direct Investment will also increase. Therefore to avail the benefits of GST it is very necessary to get Online GST registration in Bangalore Karnataka. According to the CGST Act,  an individual or a company that is registered under any previous law (that is previous indirect taxes like VAT, etc) must get themselves registered under the GST Act.

As mentioned in the article above, from online GST registration in Bangalore Karnataka for filling of returns everything is done online. It is very important for an individual or a firm to get proper guidance to understand and apply for online GST registration.

Therefore Company Vakil is the one-stop solution for Online GST registration in Bangalore. Every GST registrations will be handled by experts at every stage and it assures to provide the best possible service to a person.

Company Vakil is one of the best portals for Online GST registration in Bangalore Karnataka as it provides you with a free consultation and nominal fees for Online GST registration In Bangalore Karnataka.