Every registered business needs to comply with some returns in GST monthly or Quarterly or Both. We being India's Best GST Consulting Firm provides GST return filings services in professional manner.
Along with GST return filings a registered business (exceeding turnover from a specified limit) needs to get its accounts audited by a Chartered Accountant. We are here to provide Auditing Services.
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It's a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In short, only value addition will be taxed and burden of tax is to be borne by the final consumer.
The GST would replace the following taxes:
1. Central Taxes:
2. State taxes :
Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on inter-State supply of goods and services and such tax shall be apportioned between the Union and the States in the manner as may be provided by Parliament by law .
Tax payers with an aggregate turnover in a financial year up to [Rs.40 lakhs & Rs.20 Lakhs fTaxpayersor NE and special category states] would be exempt from tax. Further, a person whose aggregate turnover in the preceding financial year is less than Rs.150 Lakhs can opt for a simplified composition scheme where tax will payable at a concessional rate on the turnover in a state.
Imports of Goods and Services will be treated as inter-state supplies and IGST will be levied on import of goods and services into the country.
Registration under the the Goods and Service Tax (GST) regime will confer following advantages to the business:
No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable to pay GST.
Yes, a person having multiple business verticals in a State may obtain a separate registration for each business vertical.
The certificate of registration issued to a “casual taxable person” shall be valid for a period specified in the application for registration or ninety days from the effective date of registration, whichever is earlier.
No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of registration. The Final return has to be filed within three months of the date of cancellation or the date of cancellation order.
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