{"id":3842,"date":"2019-12-31T06:18:52","date_gmt":"2019-12-31T06:18:52","guid":{"rendered":"http:\/\/www.corpstore.in\/blog\/?p=3842"},"modified":"2020-01-02T05:50:30","modified_gmt":"2020-01-02T05:50:30","slug":"gst-registration-budget-top-tips-great-depression","status":"publish","type":"post","link":"https:\/\/www.corpstore.in\/blog\/gst-registration-budget-top-tips-great-depression\/","title":{"rendered":"Master The Art of GST Registration With These Top Tips"},"content":{"rendered":"\n<p>Here we are going to discuss some importance facts about GST. Did you ever think about when <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">GST Registration <\/a>is required for a business owner? I thought, you are not. OK NO problem. Let us discuss here. The GST arises in certain cases like<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If your annual turnover is above 20 lakhs<\/li><li>If the annual turnover is above 10 lakh in\n     special states like Assam, Jammu &amp; Kashmir, Himachal Pradesh, etc.)<\/li><li>Your business is an e-commerce business<\/li><li>If you pursue an inter-state business<\/li><li>Tax Payment under reverse charge process<\/li><li>You are force to pay taxes under section 9 and\n     sub-section (5)<\/li><li>Non-resident to pay taxes in taxable supply<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How can we register under GST?<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Goods-And-Services-tax.jpg\" alt=\"\" class=\"wp-image-3843\" width=\"519\" height=\"229\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Goods-And-Services-tax.jpg 1000w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Goods-And-Services-tax-400x177.jpg 400w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Goods-And-Services-tax-135x60.jpg 135w\" sizes=\"auto, (max-width: 519px) 100vw, 519px\" \/><\/figure><\/div>\n\n\n\n<ol class=\"wp-block-list\"><li>Use your permanent Account Number, mail ID and\nmobile number to fill the GST REG-01 and submit it.<\/li><li>After the PAN verification verify your mobile\nnumber and mail ID with generating one time verification process.<\/li><li>Store the Application reference number sent to your\nmobile number and mail ID for further verification process.<\/li><li>When required put your ARN number with supporting\ndocuments and submit.<\/li><li>If there is any additional data required fill out\nthe GST REG-03 form and submit<\/li><li>After the verification process a certificate of\nregistration will get issued within 3 working days.<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Documents required for Goods &amp; Service Tax Registration<\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"250\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/1564659814358.png\" alt=\"GST Registration on a Budget :Top tips from the great depression\" class=\"wp-image-3844\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/1564659814358.png 750w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/1564659814358-400x133.png 400w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/1564659814358-180x60.png 180w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure><\/div>\n\n\n\n<p>Here I am going to discuss some important documents required for <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">GST Registration<\/a> or GST Filing. Let us discuss what they are.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Incorporation certificate<\/li><li>Authorized countersigner&#8217;s Photo<\/li><li>Promoter or the partner&#8217;s Photo is a mandatory\nrequirement<\/li><li>Proof of business address which can be electricity\nbill or property tax receipt or any other utility bill or the rental agreement\ncopy.<\/li><li>The copy of resolution passed by the Managing\nCommittee<\/li><li>Acceptance letter or letter of authorization<\/li><li>Copy of your bank statement, cancelled cheque or\nthe first page of your Pass Book<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">How can I track the status of the Registration?<\/h3>\n\n\n\n<p>Log on to GST gov website, then click on the service tab. After that select the <a href=\"https:\/\/www.smartauditor.in\/company-registration.php\">Registration <\/a>menu and choose the track application status option from the given options. Click on the ARN number and click search. The status will be published in the screen and it will sent to your registered given mobile number and mail ID.<\/p>\n\n\n\n<p>Also the alternative option is\nto check the status is logging in the following ways.<\/p>\n\n\n\n<p>Login to GST gov website with the help of your credentials. Click the service option then select the <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">Registration of GST <\/a>menu. Then click the Track application status, and after that enter your ARN and click on search.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Important truths about  Goods &amp; Service Tax  Registration<\/h4>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1010\" height=\"504\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/tax.jpg\" alt=\"GST Registration on a Budget :Top tips from the great depression\" class=\"wp-image-3845\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/tax.jpg 1010w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/tax-400x200.jpg 400w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/tax-120x60.jpg 120w\" sizes=\"auto, (max-width: 1010px) 100vw, 1010px\" \/><\/figure>\n\n\n\n<p>The business which are having an annual turnover over 20 lakh is required to register the GST. There are some states which allows the turnover 10 lakh for getting <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">GST Registration<\/a>. Those states are Arunachal Pradesh, Assam, Jammu &amp; Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand. Likewise, you have to attain GST in case if you are a supplier in more than 1 states. The GST of the state which you are supplying goods in are required. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"> Goods &amp; Service Tax Registration<\/h4>\n\n\n\n<p>In such cases you can register in a single state as the main one and the remaining are the additional ones. These cases are not applicable when your business is having separate business verticals according to the section 2(18) of the CGST Act, 2017. There is no further charges to register the <strong>GST<\/strong>. <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">Registration of GST<\/a> failing can cause the due amount of minimum 10,000 or 10% of amount due. In case of international taxes the penalty can be 100% of the owed taxes.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Taxation Hacks<\/h4>\n\n\n\n<p>Taxation is divided into two competence areas known as Indirect taxes and Income Tax Laws. Indirect taxes covers GST (Goods and service tax) and it is a path breaking disaster introduced in July 1, 2017.  <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">Goods and service tax<\/a> mainly intend to paving the way with common tax at national level by removing the common barriers. GST mainly in existence with the goal to reduce the ill effects of cascading and improving the competitiveness. Here in <em>GST<\/em>, all the central level taxes (Excise duty, central service tax, service tax) and state taxes (state level- VAT) are subsumed to avoid different tax rates. &nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">GST in India<\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"600\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Why-Is-GST-Necessary-In-India.jpg\" alt=\"GST Registration on a Budget :Top tips from the great depression\" class=\"wp-image-3846\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Why-Is-GST-Necessary-In-India.jpg 700w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Why-Is-GST-Necessary-In-India-400x343.jpg 400w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Why-Is-GST-Necessary-In-India-70x60.jpg 70w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n\n<p> India is a welfare state, and it strive hard to reduce the developmental needs of the country and the people. The main way to reduce such need is to augment the charges of taxes. <strong>GST <\/strong>is considered as the instrument of fiscal policy to the socio-economic growth of the Government. What is a tax? A tax is a pecuniary burden laid upon individuals or group of property owners to supports the Indian Government. The taxes are exacted by legislative authority. GST is an enforced contribution and an exacted pursuant to the Democracy.&nbsp; By using these taxes from the public, they used to provide <a href=\"https:\/\/www.corpstore.in\/public-limited-company-registration-coimbatore.php\">public limited<\/a> services. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"> Two kinds of tax<\/h4>\n\n\n\n<p>There are two kinds of taxes. Direct taxes and Indirect taxes. Direct tax is a kind of tax which is imposed by the government on the taxpayer and it have to pay directly to the Govt. It cannot be replaced by the taxpayer to someone else. The important tax in India is Income tax.Indirect taxes are the one which is shifted by the taxpayer to someone else. The Incidence of the indirect taxes are borne by the taxpayer who consumes the product or services. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\">  Consumption taxes <\/h4>\n\n\n\n<p>The immediate responsibility to pay the taxes are fall upon another person such as <a href=\"https:\/\/www.hangrover.in\/\">manufacturer<\/a>, provider or seller of the goods and services. Indirect taxes are also known as Consumption taxes and those are regressive ones because they do not have the principle of ability to pay. Earlier the indirect taxes charged in India were Excise duty, customs duty, service tax, central sales tax, value added tax (VAT), Entry tax, purchase tax, tax on lottery, gambling and betting, luxury tax, advertisement taxes etc.  <a href=\"https:\/\/www.corpstore.in\/coimbatore\/gst-registration-coimbatore.php\">GST Filing<\/a> is a multi-stage collection of taxes where the taxes are collected at every stages &amp; the credit of tax paid at the early stage etc. are available here. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Features\nof Indirect Taxes<\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Directand-Indirect-Taxes-in-India1548924049163.png\" alt=\"GST Registration on a Budget :Top tips from the great depression\" class=\"wp-image-3847\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Directand-Indirect-Taxes-in-India1548924049163.png 800w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Directand-Indirect-Taxes-in-India1548924049163-400x225.png 400w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/Directand-Indirect-Taxes-in-India1548924049163-107x60.png 107w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure><\/div>\n\n\n\n<p>We can\nbroadly classify the features of an Indirect taxes as below.<\/p>\n\n\n\n<p>Important source of revenue: Indirect taxes are the main important sources of revenue of Indian Government. It contributes more than 50% of the total tax remuneration of Central and State Government. <\/p>\n\n\n\n<p>Commodity and service tax: The tax can be charged on the goods at the time of exporting\/ importing, manufacture, purchasing or sale. It is termed as commodity taxation as well as service taxation. <\/p>\n\n\n\n<p> No direct pinch: Most of the taxpayer do not know that they are paying tax to the Government. The value of the taxes are inbuilt in the pieces of commodity.  <\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Burden shifting: <\/h5>\n\n\n\n<p>Indirect taxes are the clear shifting of tax burden. if the supplier want to pay the GST, then he will charge those GST from the buyers by including the tax in the goods.<\/p>\n\n\n\n<p>Inflationary trend:<\/p>\n\n\n\n<p> The tax charged on the services and goods may affects directly on the prices and it leads to inflationary trends.<\/p>\n\n\n\n<p> Extensive Tax base: Indirect taxes are having an extensive tax base. Majority of the goods and services are subject to the indirect taxes with low threshold <\/p>\n\n\n\n<p>Conclusion<\/p>\n\n\n\n<p>If you want to file your GST, reach Corpstore in Coimbatore. Our expert team will assist you to make your GST Registration hindrance free. Our services includes trademark registration, <a href=\"https:\/\/www.corpstore.in\/coimbatore\/digital-signature-certificate-coimbatore.php\">DSC Registration<\/a>, IE Code Registration etc. If you have any query, feel free to contact our experts team.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"798\" height=\"2819\" src=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672.png\" alt=\"\" class=\"wp-image-3849\" srcset=\"https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672.png 798w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672-113x400.png 113w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672-566x2000.png 566w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672-435x1536.png 435w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672-580x2048.png 580w, https:\/\/www.corpstore.in\/blog\/wp-content\/uploads\/2019\/12\/untitled-infogr_43395672-17x60.png 17w\" sizes=\"auto, (max-width: 798px) 100vw, 798px\" \/><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Here we are going to discuss some importance facts about GST. Did you ever think about when GST Registration is required for a business owner? I thought, you are not. OK NO problem. Let us discuss here. The GST arises in certain cases like If your annual turnover is above 20 lakhs If the annual &hellip; <\/p>\n","protected":false},"author":1,"featured_media":3843,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/posts\/3842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/comments?post=3842"}],"version-history":[{"count":2,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/posts\/3842\/revisions"}],"predecessor-version":[{"id":3850,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/posts\/3842\/revisions\/3850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/media\/3843"}],"wp:attachment":[{"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/media?parent=3842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/categories?post=3842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.corpstore.in\/blog\/wp-json\/wp\/v2\/tags?post=3842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}