GST Registration Services In Ujjain

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.

For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply.

GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps. *CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

GST will have 3 tax components, which includes a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where centre and state will levy GST on all entities, i.e. when a transaction happens within a state. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the centre, i.e. when a transaction happens one state to another.

Breakeven Advisory, your trusted legal advisor, will help you in GST registration in Madhya Pradesh. Breakeven Advisory will take care of all legal formalities and fulfil the compliances at a very reasonable price.

1. GST eliminates the cascading effect of tax.

2. Higher threshold for registration.

3. Composition scheme for small businesses

4. Simple and easy online procedure

5. The number of compliances is lesser

6. Improved efficiency of logistics

7. Unorganized sector is regulated under GST

The list of documents required for registration of GST for various business are as follows:

For Proprietorship

1. PAN Card and address proof of proprietor

2. Gumasta (Shop Establishment License)

3. Rent Agreement

4. Trade License

For LLP

1. PAN Card of LLP

2. LLP Agreement

3. Partners’ names and address proof

4. Address Proof of Registered Office

5. Digital Signature

For Private Limited Company

1. Certificate of Incorporation

2. PAN Card of Company

3. Articles of Association, AOA

4. Memorandum of Association, MOA

5. Resolution signed by board members

6. Identity and address proof of directors

7. Digital Signature

The following can be shown as proof of address of a director:-

1. Passport

2. Voter Identity Card

3. Aadhar Card

4. Ration Card

5. Telephone or Electricity Bill

6. Driving License

7. Bank Account Statement

CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

The Composition Scheme is beneficial for the local transfer of goods and services within a particular state. The suppliers that operate within a state are the ones who will be in an advantageous position. However, dealers whose work involves inter-state transactions need to opt for the regular scheme.

From this, it can be concluded that the government has put in a lot of careful planning while deciding to introduce GST to the economy. It was done for the betterment of the economy because the imposition of one uniform indirect tax all over the country would lead to a smoother financial situation. Hence, GST registration should be considered very crucial if an individual wants to be a recognised tax-payer of India.