GST Registration Online: SuperCA

Online GST Registration   is a process for applying for a unique GSTIN from the GST Portal. It requires no manual intervention or no physical paper submissions. A very simple online procedure has been prescribed for this. GSTIN is required by every registered taxpayer in order to collect and pay GST on the outward supplies i.e. sales and for claiming ITC on the inward supplies i.e. purchases. The registration process is usually finished within 4 to 6 working days and a 15-digit GSTIN (GST identification number) and a certificate of registration are allocated by the GST department. Benefits of having Online GST registration ➢ Less compliance The number of separate compliances is lesser now with GST. Under the previous tax regime, businesses had to file multiple returns accorded with different indirect taxes – VAT, excise, and service tax. As GST is a unified and singular tax regime, the number of filings has come down, making it less hassle for entities to file a return. ➢ Eliminate...

The implementation of Goods and Service Tax (GST) in India was a historical move, as it marked the beginning of a new era in India’s indirect tax structure. This multi-stage and destination-based tax framework has supplanted several indirect taxes in the country, such as VAT, service tax, and excise duty. In the three years following the announcement of the “One nation one tax” regime, SMEs and start-ups have enjoyed the benefits. One of the most important benefits of the move is simplifying the taxation procedure by bringing all the indirect taxes under a single category and also bringing some uniformity across the nation.   In this article, we’ll discuss the various advantages that GST gives to small businesses and start-ups on registration About online GST registration 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 regi...

Director identification number (DIN) refers to a unique identification number that is given to a person desiring to be a director or an existing director. Through DIN, details of the directors are maintained in a database. It is an 8-digit unique identification number and has lifetime validity. The concept of a Director Identification Number (DIN) has been introduced for the first time with the insertion of Sections 266A to 266G of Companies (Amendment) Act, 2006. As such, all the existing and intending Directors have to obtain DIN within the prescribed time frame as notified. In this digitised era, application in eForm DIR-3 was sufficient to obtain DIN. For any individual who wants to be a director in one or more companies, this was only a one time process. However, now with the move of the MCA to update its registry, all directors with a DIN will have to update their KYC details annually in eForm DIR-3 KYC. This annual KYC for all DIN holders has been made mandatory by the MCA w.e.f...

Partnership Firm and Sole Proprietorship are two different business structures & also are different in terms of their working. Sole Proprietorship registration   is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “ One Man Business Entity ”. All the investments for the Sole Proprietorship business are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. A Sole Proprietorship is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. If one is looking to add partners to their business without any hassle or hindrance, then it is recommended to switch to a partnership from sole proprietorship registr...

  India has seen a boom in expansion and penetration of various E-commerce platforms like Amazon, Flipkart, swap deals with great momentum in the past few years. These platforms allow other traders to become a seller on these platforms.   GST was introduced by the government as a single tax for the entire country to simplify the Indirect Tax System. GST registration serves as the foundation for all tax lines, including Central Excise, Service Tax, and VAT etc. Now, any Seller or Vendor is required to get registered under GST to be able to sell on these platforms. Here is a complete guide on how to file returns if you want to sell goods on any of these platforms.   The rules are different for people who provide services via platforms like UrbanClap or provide food via Swiggy or cab service via uber/ola. This guide is only for persons who sell goods on Amazon, Flipkart or other similar platforms.   Why is GST Registration and filing mandatory for Amazon Vendors/Seller...