To remove the complexity of tax on taxes , GST(Goods And Service Tax) act is implemented in India from 1st,July,2017 to be levived when customer is buying any type of goods or availing any kind of services from the service provider,
thus removing multiple taxes like service tax, vat , exercise duty and various other taxes. The main aim of
introducing GST is to bring all the taxes under one roof.
The very first aim of every person right now should be to get GST registration online
This bill almost helps to eradicate the cascading effect of taxes on production, distribution prices on goods & services.
Goods & service tax refers to indirect tax which replaces taxes levied by the central & state government.
Uksandassociates with their expert guidence can get you registered for gst online.Uksandassociates have experts of
GST who can help you to guide the GST applicability , tax rates ,return filing , invoice format and much more. You can call us at +91-96541-44512 for any expert advice.
Before the implementation of GST act in India , any VAT or Service Tax provider whoes turnover exceeds more than 10 Lakhs in a year , have to be enrolled for VAT/ST . But after GST act the overall threshold limit has been increased to 20 Lakhs per annum , which has proven a great benefit for a small scale service provider. It means if any person is having the turnover of upto Rs 20 Lakhs in a year , they don't even have to pay taxes nor have to enroll for GST. Not only this, businesses with a turnover less than Rs 75 lacs will have to pay the GST at lower rate. If this does not sound favourable, it is tough to guess what else ever will. GST is perhaps the best thing that could happen to start-ups and small businesses.The main motive of GST is one nation one tax .
Migration to GST
Uksandassociates has helped many of their clients yet to help in migrating to GST , and has also provided expert guidence for their implementation for same. Goverment of India and GST department has planned much easier process for enrolment to GST . For complete process of how to enroll for GST , read our article.
Are you liable ?
If you’re an existing taxpayer registered under any of the below mentioned authorities, then you are Liable to migrate and enroll under GST system portal. -Central Excise
-State sales tax/VAT (except exclusive liquor dealers)
Migration here means validating the data of existing taxpayers and filing up the remaining key fields.
In case of any cocern regarding GST , Uksandassociates have experts CA's , serving clients since 1993 .Call +91-96541-44512 for availing any of our services.