Proprietorship

Goods and Service Tax (GST) is one of the most significant tax reforms introduced in the history of the Indian fiscal evolution. With a singular impact on the economic growth of the country and the way business is done in India, it is expected to achieve the following:

Convert India into one market by seamless flow of tax credits – today some taxes are not creditable when goods move outside an Indian State, service tax credit is not available to a trader or a services unit cannot claim credit of Value Added Tax (VAT) paid on goods.

• Multiple taxes to be replaced by singular tax making compliance easier
• Number of tax rates to be reduced substantially making life easier and disputes lesser     
• Compliance process to become uniform due to singular IT portal where business and government agencies interact – this can also reduce human interaction and bring transparency in operations       
• Business decisions may not be driven by tax considerations as most of the taxes will be creditable, bringing in overall efficiency in business operations spurring economic growth.        
• Electronic filing and online credit matching would substantially reduce
• Non-compliance and tax frauds – this may provide significant boost to honest businesses.

• Turnover Criteria

         GST registration will apply when turnover of business exceeds Rs.20 Lakhs ( Limit is Rs.10 Lakhs for North Eastern Area ) 

       *North Eastern Area includes Arunachal Pradesh; Assam; Manipur; Meghalaya; Mizoram; Nagaland; Sikkim; Tripura. 

• Inter State Supply

       If an entity undertakes inter-state of good and/or services, then GST registration must be mandatorily, irrespective of aggregate annual turnover.

• E-Commerce Seller  

       Internet business aggregators/E-Commerce Seller are mindful under the GST law for gathering and storing charge at the rate of 1% from every exchange. Any

       merchants/brokers offering products/administrations online would get the installment after conclusion of 1% impose.Every one of the brokers/merchants offering

           merchandise/administrations online would need to get enlisted under GST regardless of the possibility that their turnover is   under 20 Lakhs for guaranteeing the

       expense deducted by aggregators.

• Casual Tax payable Person

       A casual tax payable person is a person who occasionally supply goods/ services having no place of business. 

• Existing Taxpayer 

           ​All enterprises/Entities/Companies having DVAT or any other state VAT, Service tax registration or Central Excise registration must be registered  

       under GST mandatorily.

• Passport Size Photo of Proprietor / Authorized Signatory
• Active Email Id
• Current Mobile Number
• PAN Card of Individual
• Aadhaar Card of Individual
• ID proof of Individual : Passport / Voter Id Card / Driving license / Aadhaar Card
• Address proof of office Premises (Any 2 ) : 

1. Electricity Bill / Landline Bill/ Municipal Tax Copy, Rent/Lease Agreement, No objection Certificate (in case of premises of relatives), any certificate or Record from Government Department. 

• Cancelled cheque of Bank account showing name of account holder, MICR code, IFSC code and Bank branch details.
• First page of Passbook or Bank Statement.
• Authority letter ( in case of Authorized signatory )

• Application Filing
• Documentation
• Professional Fees
• Provisional Certificate ( Goods and Service Tax Number )

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