GST Registration Services in Mumbai Thane
Goods, Services and Tax
GST Registration: As per the GST regulations, GST registration is done through an online portal maintained by the Central Government. We are the best Tax Consultant in Mumbai,Thane which can help you get the online GST registration in India done quickly and effortlessly.
GST Registration is mandatory for several traders or entities having turnover over a predetermined threshold limit. Enroll in GST through top-notch services provided by Bashmakh & Co, The enrollment in GST through us makes it possible for entities and individuals to concentrate on the core business without even worrying about any hassles or delay in Compliances.
Know GST Registration Procedure & Process in India
- Entities and organizations in Mumbai across India have to Apply the GST Registration on the web. Those Entities which needn't bother the threshold may enroll on a voluntary basis.
- The GST registration procedure starts with understanding the business and gathering all the required documents, Aga & Associates spare loads of significant efforts and time through simple administrations in regards to new GST enlistment, change of GST registration and undoing of GST registration.
- Various Information and documents are to be uploaded on GST website. Once registration form is uploaded successfully, the applicant will get Application Reference Number online.
- If dealers have several branches in various states, they need to get the registration for every single location.
Advantages of hiring Aga & Associates for GST Registration Online:
1. Confidentiality of information:
Our experienced and well-trained IT team ensures that your data is safe with us. After all, what, indeed, is better than a team that understands the criticality of your information and ensures quick deliverables with the accuracy of data processing?
2. Satisfactory consulting:
Now you can file GST return online within the comfort of your home with our dedicated staff there to provide you with applicable provisions to carry out the processes with ease. We are a team of efficient and experience professionals to guide you through. With our quick support and transparent services, we make sure you return satisfactorily.
3. Prompt services:
At Aga & Associates, you can get round the clock taxation consultancy services and file GST registration online while you’re sipping tea or enjoying holidays with the top tax consultancy agency in India.
4. Dedicated staff:
We understand that comprehensive planning and easy accessibility can enable businesses to grow tremendously. Let our skilled team take care of your tax compliances and GST return filing while you are out there building credibility and revenue.
5. Reasonable costs:
Our cost-effective services involving GST registration, cancellation of GST registration and GST registration in Mumbai provide a clear vision so that you can focus on the key aspects of the company while we take care of the taxations.
Is there anything more you can expect a GST consultant Mumbai to do for you?
Perhaps not.
But, of course, we do.
We help you make strategic business decisions by appointing trained staff to provide unsurpassable solutions to your problems with no chances of data leakages. Besides this, we leave no stone unturned in delivering quantifiable results to our customers so that they can relate to our methodologies and build faith in us.
Benefits of GST
- Subsumed bunch of indirect taxes such as VAT, CST, Service tax, CAD, SAD, and Excise
- Lesser tax compliances and a simplified tax policy compared to the previous tax regime
- Elimination of the cascading effect of taxes, i.e. removal of tax on tax
- Reduction of manufacturing costs due to less burden of taxes on the manufactu0rers, thereby fall in prices of consumer goods.
- Lowering the tax burden on the common man, i.e. public will have to spend less money to obtain the same products that were expensive earlier.
- Increase in demand and consumption of goods
- Increased demand will lead to an increase in supply. Hence, this will ultimately lead to a rise in the production of goods.
- Control of bogus transactions through a more transparent mechanism under new regime to curb black money circulation typically followed by traders and shopkeepers
- Boosting and advancing of the Indian economy in the long run
Eligibility for GST Register Number
GST Registration isn't compulsory for people/Business who only deals in exempted goods/services. But, GST Registration is mandatory for the following people/substances:
- Those selected underneath the pre-GST regulation (Excise, Service Tax, VAT, etc.)
- Any business whose turnover in a financial year exceeds Rs. 20 Lakhs (40 lakhs in case of supply of pure goods in Maharashtra).
- People who pay tax under reverse Charge mechanism.
- Entities in e-commerce or distribution of products and services via e-commerce operators.
- People qualified to receive TDS (tax deducted at source).
- Entities who deal in intra state etc.
Types of GST
| Features | Central GST - CGST | State GST - SGST | Integrated GST - IGST |
|---|---|---|---|
| Tax Levied By | Central Government on Intra-State supplies of Goods and/or Services | State Government, on Intra-State supplies | Central Government, on Inter-State supplies |
| Applicability | Supplies inside a state | Supplies inside a state | Interstate supplies and import |
| Input Tax Credit | Against CGST and IGST | Against SGST and IGST | Against CGST, SGST, and IGST |
| Tax Revenue Sharing | Central Government | State Government | Shared between State and Central governments |
| Free Supplies | Applicable |
Documents Required for GST Registration
1. For Sole Proprietorship / Individual
- Aadhaar card, PAN card, and a photograph of the sole proprietor
- Details of Bank account- Bank statement or a canceled cheque
- Own office – Copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
- Rented office – Rent agreement and NOC (No objection certificate) from the owner.
2. For Partnership deed/LLP Agreement
- Aadhaar card, PAN card, Photographs of all partners.
- Details of Bank such as a copy of the canceled cheque or bank statement
- Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal Khata/property tax receipt
- Rented office – Rent agreement and NOC (No objection certificate) from the owner.
- In the case of LLP- Registration Certificate of the LLP, Copy of board resolution Appointment Proof of authorized signatory- letter of authorization
3. For HUF
- A copy of the PAN card of HUF.
- Aadhar card of Karta
- Photograph
- Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
- Rented office – Rent agreement and NOC (No objection certificate) from the owner.
- Details of Bank- bank statement or a copy of a canceled cheque
4. For Private limited/Public limited/One person company
- Company’s PAN card
- Certificate of Registration
- MOA (Memorandum of Association) /AOA (Articles of Association)
- Aadhar card, PAN card, a photograph of all Directors
- Details of Bank- bank statement or a canceled cheque
- Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
- Rented office – Rent agreement and NOC (No objection certificate) from the owner.
- Appointment Proof of authorized signatory- letter of authorization
5. For Society or Trust or Club
- Pan Card of society/Club/Trust
- Certificate of Registration
- PAN Card and Photo of Promotor / Partners
- Details of Bank- a copy of the canceled cheque or bank statement
- Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
- Rented office – Rent agreement and NOC (No objection certificate) from the owner.
- Appointment Proof of authorized signatory- letter of authorization
What is the Composition scheme under GST?
Private companies with a yearly turnover of not as much as Rs. 1.5 crore (Rs. 75 Lakhs for the Special Category States) can decide on the Composition scheme.
- Composition dealers require paying nominal tax rates depend on the kind of business. (A maximum of 2% for manufacturers, 5% for the restaurant service sector, and 1% for other suppliers.)
- Composition dealers need to file just a single quarterly return (rather than the monthly returns filed by normal taxpayers).
- They can’t give tax invoices. That is, they cannot gather tax from clients and they have to pay the tax out of their own pocket.
- Elements that have settled on the Composition Scheme can’t guarantee any Input Tax Credit.
Who can opt for the Composition scheme?
- All SMEs searching for lower compliance and lower assessments of taxes under GST.
- A GST citizen, whose turnover is underneath Rs 1.5 crore, can settle on the Composition Scheme. (On account of Special Category States, as far as possible is Rs 75 lakh.)
- The Aggregate Turnover of all organizations enlisted under a similar PAN would be taken into the application to calculate turnover.
- Will pay tax at typical rates in case he is subject under the opposite charge mechanism.
- Sellers of intra-state supply of goods (or service of only the restaurant sector).
Which businesses are not eligible to apply for the Composition Scheme?
Composition scheme doesn’t apply to:
- Service providers,
- Inter-state sellers,
- E-commerce sellers,
- Supplier of non-taxable goods,
- Manufacturer of Notified Goods,
- All the suppliers of services except those providing restaurant services (not serving alcohol),
- Suppliers of – ice cream, pan masala or tobacco (and its substitutes),
- Casual Taxable Person,
- Non-resident Taxable Person,
- Supplier of exempted goods or services.
How to apply for the Composition Scheme?
- In the event of new enlistment, you can pick the plan at the time of GST Registration.
- On the off chance that you are already enrolled, you can file for it by submitting GST CMP-02 online.
GST Registration FAQ
Goods & Service Tax Registration is the mandatory process for all type of person involved in business of buying and selling of Goods or providing services if their turnover crosses a certain threshold limit. GST Registration is required for obtaining a Unique GST No., which is GSTIN. GST registration will further help all persons conducting business to collect taxes from their customers and render to the government. Further all such GST Registrationed users can claim input tax, which they’ve paid on inward supplies.
As there was multitier system existing in India before, GST is a single tier system of taxation. GST Registration is a process through which a person doing business get a Unique No. which comprises of 15 digits. These 15 digits are nothing but the combination of PAN No. and the respective state code under which GSTIN is allotted. As mentioned earlier, GST Registration becomes compulsory if the turnover of any business crosses 20 or 40 Lakhs threshold limit, but also GST registration is voluntary in nature too.
GST Registration is done via Online GST portal i.e., www.gst.gov.in . If one opts to take GST Registration from a Chartered Accountant then their charges may vary. These charges are decided voluntarily by CAs and other consultants. Also it is advisable for any person, who either falls in compulsory GST registration category or he/she wants to take GST Registration voluntarily, that they should do under professional guidance so as to avoid any error. Seeking professional support is protective shield not only in terms of services but also in terms of learning. Unless otherwise any professional service is taken, online GST portal charges no fee for the registration process.
Process of GST Registration has to be performed on the online portal of GST i.e., www.gst.gov.in. Initiating with filling up correct business details, this registration process takes you to a lengthy tour divided into two Parts viz. Part A & Part B. Precisely Part A deals with filling of details whereas Part B deals more of submitting the relevant documents such business address proof, Aadhar etc. One very important portion of the whole process is to provide correct contant no. and correct communicating email address. This is not only required in the registration process but also your mobile no. & email Id will be the OTP (one time password) tool throughout the journey of GST law. For other persons like a Company, DSC (Digital signature certificate) is required, even at the time of registration under GST law.
Yes for any small business in India, GST registration is required. Let it be supplying of goods or services in other states or having e-commerce business, GST registration or obtaining GSTIN becomes mandatory irrespective of the threshold limit of 40 lakhs, in case of manufacturing unit or 20 lakhs, in case of service provider. On the other hand if you have a small business and want to generate tax invoice for any of your client, then GST Number would be required. Also where your are liable to pay under Reverse charge mechanism i.e., paying on behalf of your supplier of services or goods, where your supplier is Registrationed under RCM- Reverse Charge Mechanism, GST No. is required. In India Businesses involved in Export/ import business will have to mandatorily obtain the GST No. Further there are many cases which prove that if we are conducting business in India, small or large scale, we require GST No. compulsorily without which it would become impossible to transact the business routines on daily basis.
GST number is received within 3 working days from the point of generation of Application Reference Number (ARN); but again it should be approved by the GST officer. More specifically working days should be excluded correctly such as all national holidays, relative state holidays, Saturdays & Sundays should be excluded from the calculation of working days. On the contrary, it the GST officer does not approves the application due to some reasons, and then it would take 7 working days from the point of reapplication for the GST Registration.