GST consultants in Bangalore

 

Hello everyone, in this post, we will talk about goods and service tax registration. This is so self-explanatory. Whoever deals with goods or services, whoever purchases goods or services, are liable to pay GST tax. There are lots of questions arising in and around about GST.

In this post, let's see very few basic questions about GST registration.

What is GST?

GST comes in the act of vanishing indirect taxes of central and state such as VAT excise duty and service tax GST, bringing in one nation one tax which is one single taxed for the entire nation.

So let's see who are eligible to get enrolled with GST so simple if you are an individual or a business who aren't dealing without who supplies goods or services are eligible to get enrolled with GST if there is a requirement or if there is a necessity to run your business only by having a GST registration you can enrol yourself by the GST registration in a voluntary basis.

Now let's see who our mandate relief should get register with GST like say, for example, you have a company, or you have a proprietorship company who supplies your goods or services in an e-commerce portal who sales your products in e-commerce portal or very mandatory to have a GST number without having a GST number, you are not supposed to run your business in any economist portal.

For example, if you are a proprietorship company or a startup company that does not turn, that means of turnover in a year or your turnover is not crossing 20 like an annum, you still need to require a GST number.

Yes, if you have a company in Karnataka, and if you are running your business out of his state, you should have a GST registration number mentioned on your invoice without having a GST number.

You should not raise any invoice apart from your state like if you have our company which runs in India. Still, your business is entirely through to a foreign country like if you export your glutes or export your service to foreign countries, it is mandatory to have a DST number. The post-registration formalities for your company may differ. However, you still have to have enrolled with a GST number and now let's see about exemption the exemption of GST registration right. 

Few companies run their business only within this state. They have an exemption of GST registration until 20 lakh turnover. If you have a turnover below 20 lakh with an exemption of GST registration unless or until you do an interstate transaction, it is not required to register with GST. Still, when you start to do interstate transactions, you must get a GST registration again if you are not crossing your 20 lakh limit now.

 

Let's see about the benefits of GST registration. Those who have a DST number establish the company as a legal supplier of goods and services you are. You are eligible to get an input tax credit to satisfy the requirements of b2b customers and improve the business credibility.

Now let's see about post-registration formalities you are successfully enrolled with GST. What else to be done? Yes, you're not. Your role does not end with registering with GST once after registering your company with the GST registration; you have some mandatory compliance to be taken care of like you should mention your GST number in all the invoices, which hearings both in sales and purchase invoices, and you should provide a proper GST invoice to all the customers. You should file new GST in returns promptly, like based upon the turnover, the due dates may fall different. Still, you should file a GST, and also, you may say you have not made any transaction at all, but still, you have to file your new returns, which is also a mandatory thing.

 

salsabeelahmedandco is India Best GST consultant in Bangalore for small businesses and enterprises. Business owners in Bangalore