GST Registration Online: SuperCA

Online Sole proprietorship registration is the easiest and most inexpensive form of registration to get. It is the most popular type of business type to begin in the unsystematic sector, specifically among small businesses. It's simple to start as fewer formalities are required & less waste of time for taking various approvals. Also, it has minimum compliance that is required to be adhered to get it incorporated. A sole proprietor has complete control over the revenue and operations of their business, provided they are within legal parameters. It is also the reason why online sole proprietorship registration is often termed “One Man Business Registration”. A sole proprietor is not a legal entity, but a natural person, and there is no legal distinction between that person and the business. This business type has multiple advantages as compared to other structures for those people who are starting a new business with comparatively fewer risks. In this article, we’ll talk abo...

According to the rules, every person (including company, LLP etc) has to register under GST if the total turnover crosses Rs.20 lakh (Rs 10 lakhs for special category states present in hill states and North-Eastern states). Hence, if your turnover is more than 20 lakh or is going to be more than 20 lakh, then you should go for online GST registration . The registration process is completely online, hence no manual intervention or physical paper submissions is required. The online process is as simple as it may sound. It is normally 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 with GST, it will be an offence under GST and heavy penalties will apply. GST Registration Fee For GST registration in India, there is no government fee. Anyone can get the GST registration  ...

Online GST Registration is the process of obtaining a 15-digit unique identification number from the tax authorities. Currently, 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 get registered under GST. Online GST registration is a simple process and it doesn’t require manual intervention or physical paper submission. Once the application is approved by the GST officer, the individual gets a registration certificate and a unique alphanumeric GSTIN. Usual Process of applying for GST Registration. The following are the two ways to register for GST: via GST Online Portal or via GST Seva Kendra set up by the Government of India You will receive your online GST registration certificate usually within 10 working days after all submissions for the registration. However, the processing officer of the GST department requests few applicants to provide additio...

Input Tax Credit or ITC is the tax paid by the purchaser on Inward Supplies (purchase) on goods or services or both. Such tax which is paid at the time of purchase of goods or services or both is reduced from liability payable on his/her outward supplies (sale) which is known as an ITC. In other words, the input tax credit is the tax reduced from output tax payable on functions of accounting of sales. For instance, you as a trader purchased goods of Rs. 100 and paid a tax of Rs 10 on it. Now the same goods are sold by you at Rs. 150 and a tax of Rs. 15 is collected from the buyer. Now you have to pay Rs.15 to the government for that good but you had already paid Rs.10, so this Rs. 10 is your ITC and it will be allowed as a deduction from tax payable and you have to pay net Rs. 5 as tax. This is available as a deduction from tax payable and you have to report the same while going for online GST return filing . Documents required for claiming ITC The registered taxpayer should poss...

Goods and Services Taxes or simply GST is an Indirect tax, applicable on the sale of Goods and Services. Multiple taxes like VAT, Service Tax, etc are subsumed into GST. With the motive of “One Nation One Tax”, the GST regime has made the compliance procedure more transparent, seamless, and intuitive. Under GST, every registered individual has to get their GST Return filing done irrespective of the type of business or turnover or profitability during the period. Under the GST Regime, even a dormant business that has obtained GST registration must file the GST return. These returns are filed to pay taxes as well as to provide data to the government relating to the transactions made by the business during the period under consideration. Once you file GST returns , you will need to pay the resulting tax liability i.e money that you owe the government. Since the GST tax structure was implemented just 4 years ago, this is new stuff for upcoming businesses. People getting new registrat...

The GST Act came into operation in 2016 and the implementation of the same began on July 1, 2017. A variety of indirect taxes previously levied by central and state governments like VAT, Service Tax, Local Body Tax, Central Excise duty, Central Sales Tax Purchase Tax, Luxury Tax, Entry Tax, Octroi, etc. have been compiled and accumulated under GST. As per the GST regulations, it is mandatory for a business or any 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 get their online GST registration done. The online GST registration process doesn’t require manual intervention or physical paper submission. The process is as simple as it may sound. It is usually completed within 4–6 working days and the supplier is allotted a 15-digit GST identification number and a certificate of registration by the GST department. GST was a great initiative taken by the Indian government and has provided many be...