Posts

Showing posts from May, 2021

Why is GST Return Important? Is it Necessary To File GST Returns Every Month?

Image
What GST Return Is? GST return is a document that contains all the details of sales, purchases, tax collected on sales, and tax paid on purchases. Once you file GST returns, you will need to pay the resulting tax liability i.e money that you owe the government. The details of sales and purchases of the goods and services plus the tax paid and collected have to be furnished by all registered individuals, traders, organizations, and companies. Such details are submitted by filing a GST Return and on this, the tax authorities calculate tax liability. The registered GST user will have to file the return, including purchases, sales, output GST, and input credit of GST. A registered user has to submit 4 forms to file their GST return: return for purchases, return for sale/supplies, monthly return, and annual return. Quarterly returns are to be submitted by those who have opted for the composition scheme. Importance of   GST Return filing All the Registered Dealers are required to file GS...

How to do Company Registration in India?

Image
  According to Section 3 of the Companies Act, a company is a legal entity registered and formed under the 1956 Companies Act.  New Company Registration  is a primary step for any business organization. To protect your business and secure your rights, new company registration is essential. There are various forms/constitutions of businesses available that one can register with. The choice of the constitution would depend upon the specific need of the applicant. New company registration of business allows you to meet various government norms and also helps in getting finances from the bank, provides a unique identity to the business, and allows other benefits from various government schemes. This is also the first step if you wish to start a business online. You should be clear about the type of your startup before choosing an appropriate constitution. It is also necessary to be aware of the technicalities, benefits, pros & cons of each type before registering to incor...

How to do Online GST Registration?

Image
 Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities to collect tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. GST Registration is the process of obtaining a unique identification number by a supplier from the tax authorities; it is for the identification of the taxpayer. Every supplier/business having a turnover of Rs 40 lakhs or more (Rs 10 lakhs for special category states) needs to get registered under GST. The supplier shall be allotted a 15-digit GSTIN (GST identification number) and a certificate of registration by the GST department. SUPER CA helps you to get your GST REGISTRATION done within 4-6 working days at the lowest prices. Let us make it easy for you. WHO SHOULD REGISTER UNDER GST? TURNOVER LIMIT (SEC 22) Businesses engaged in the supply of goods having a turnover of Rs 40 lakhs or more (10 lakhs if the business is in Assam, Himachal Pradesh,...

All About GST Registration and Documents for GST Registration Online

Image
  As per the GST rules, it is mandatory for a business/supplier that has a turnover of above Rs.40 lakhs (Rs 10 lakhs for special category states present in hill states and North-Eastern states) to register as a normal taxable entity. In India, the   GST Registration Process   is completely online. No manual intervention or physical paper submissions is required. The online process is as simple as it may sound. The online   GST registration process   is usually completed within 4-6 working days and the supplier is allotted a 15-digit GSTIN (GST identification number) and a certificate of registration by the GST department. If the organizations fulfilling the eligibility criteria carry on business without registering under GST, it will be an offense under GST and heavy penalties will apply. Types of GST Registration Various types of GST Registrations are described under the GST Act. We must be aware of the different types of  GST Registration  before se...