GST REGISTRATION
IN VIJAYAWADA

GST Registration service in Vijayawada

GST (Goods and Services Tax) is a unified indirect tax system introduced in India to streamline and simplify the taxation of goods and services across the country. Implemented on July 1, 2017, GST replaced a complex web of indirect taxes levied by the central and state governments. It aims to create a common market by subsuming various taxes such as Central Excise Duty, Service Tax, VAT, and others, thereby eliminating the cascading effect of taxes and promoting ease of doing business. Register GST in Vijayawada with our dedicated team of professionals. Cqubes simplifies GST registration process in Vijayawada with our expert guidance.

Components of GST:

GSTIN (Goods and Services Tax Identification Number)

• GSTIN is a unique identification number assigned to each taxpayer who is registered under GST.
• It is a 15-digit alphanumeric code that is required to be displayed on the GST invoice issued by the taxpayer.
• The GSTIN is state-specific and PAN-based (Permanent Account Number).

CGST (Central Goods and Services Tax)

• CGST is the tax levied by the Central Government on the intra-state supply of goods and services.
• It is governed by the Central Goods and Services Tax Act.

SGST (State Goods and Services Tax)

• SGST is the tax levied by the State Government on the intra-state supply of goods and services.
• Each state has its own SGST Act, which allows the state to levy and collect SGST on transactions within the state.

IGST (Integrated Goods and Services Tax)

• IGST is the tax levied by the Central Government on inter-state supply of goods and services.
• It is governed by the Integrated Goods and Services Tax Act.
• IGST replaces the earlier Central Sales Tax (CST) that was applicable on inter-state sales before GST.

Slabs under GST:

Under the Goods and Services Tax (GST) regime in India, "slabs" typically refer to the different tax rates applied to various categories of goods and services. The GST system in India has several tax slabs, each with its own applicable rates:

0% (Nil Rate)

Certain essential goods and services fall under this category, such as grains, fresh fruits, vegetables, milk, education services, etc.

5%

This slab includes items like household necessities such as sugar, spices, tea, coffee (except instant), coal, fertilizers, etc.

12%

Items falling under this slab include computers, processed food items, frozen meat products, etc.

18%

This is a common rate for most goods and services, including soaps, industrial intermediates, capital goods, telecom services, etc.

28%

This slab is primarily for luxury items and products such as automobiles, high-end motorcycles, yachts, aerated drinks, etc.

Guidelines for GST Registration:

Turnover Threshold

• Businesses with an annual aggregate turnover exceeding ₹20 lakh (₹10 lakh for special category states) must register for GST.
• For service providers, the threshold is ₹20 lakh (₹10 lakh for special category states).
• For businesses involved in the supply of goods, the threshold is ₹40 lakh (₹20 lakh for special category states).

Inter-State Supply

Any business involved in the inter-state supply of goods and services must register for GST, regardless of turnover.

E-commerce Operators

Businesses that supply goods or services through an e-commerce operator are required to register for GST, regardless of their turnover.

Casual Taxable Person

Individuals who occasionally undertake business transactions involving the supply of goods or services in a state where they do not have a fixed place of business must register for GST.

Non-Resident Taxable Person

Non-resident individuals or businesses that supply goods or services in India are required to register for GST.

Agents

Agents supplying goods or services on behalf of other taxable persons are required to register for GST.

Reverse Charge Mechanism

Businesses required to pay tax under the reverse charge mechanism must register for GST.

Input Service Distributor (ISD)

An ISD, which distributes input tax credits to its branches, must register for GST.

Other Specified Persons

Certain specified categories, such as those involved in the supply of online information and database access or retrieval (OIDAR) services to unregistered persons in India from a place outside India, are also required to register for GST.

Advantages of GST for Businesses:

Goods and Services Tax (GST) provides several advantages specifically for businesses in India. These advantages streamline operations, reduce costs, and enhance compliance. Here are some key benefits of GST for businesses:

Simplified Tax Compliance

GST replaces multiple indirect taxes with a single, unified tax system, simplifying compliance for businesses. This reduces the administrative burden and cost associated with managing various taxes.

Elimination of Cascading Tax Effect

GST eliminates the cascading effect of taxes, where tax is levied on tax. This reduces the overall tax burden on businesses, leading to lower costs of goods and services.

Input Tax Credit (ITC)

Businesses can claim input tax credit for the GST paid on purchases, which can be offset against the GST payable on sales. This ensures that tax is levied only on the value addition, reducing the effective tax liability.

Ease of Doing Business

The uniform tax rates and centralized digital platform for filing returns and paying taxes simplify business operations. This ease of compliance attracts investment and fosters growth.

Improved Cash Flow

The timely availability of input tax credit under GST improves cash flow for businesses. It reduces the need for working capital to pay taxes on inputs and outputs separately.

Encouragement for Startups

GST provides a level playing field for startups by simplifying the tax structure and reducing compliance costs. This encourages entrepreneurship and innovation.

GST Return Filing Types & Dates:

GSTR-1

• Monthly return for outward supplies.
• Due Date: 11th of the following month.

GSTR-3B

• Summary return of inward and outward supplies and tax liability.
• Due Date: 20th of the following month.

GSTR-4

• Quarterly return for composition scheme taxpayers.
• Due Date: 18th of the month following the quarter.

GSTR-5

• Return for non-resident taxable persons.
• Due Date: 20th of the following month or within 7 days after the expiry of registration, whichever is earlier.

GSTR-6

• Return for input service distributors.
• Due Date: 13th of the following month.

GSTR-7

• Return for TDS deductors.
• Due Date: 10th of the following month.

GSTR-8

• Return for e-commerce operators required to collect TCS.
• Due Date: 10th of the following month.

GSTR-9

• Annual return for regular taxpayers.
• Due Date: 31st December of the following financial year.

GSTR-9A

• Annual return for composition taxpayers.
• Due Date: 31st December of the following financial year.

GSTR-10

• Final return for taxable persons whose registration has been canceled or surrendered
• Due Date: Within 3 months of the date of cancellation or order of cancellation, whichever is later.

Penalties for Late Filing:

Late Fee

• For GSTR-3B and GSTR-1
• ₹50 per day of delay (₹25 each for CGST and SGST).
• ₹20 per day of delay (₹10 each for CGST and SGST) if the return is nil.

• For GSTR-9
• ₹200 per day of delay (₹100 each for CGST and SGST).

• For other returns
• The late fee varies but is generally ₹50 per day of delay (₹25 each for CGST and SGST).

Interest

• Interest at 18% per annum is charged on the amount of tax to be paid. It is calculated from the day after the due date of filing to the actual date of payment.

Documents Checklist:

Following documents are required for GST Registration in Vijayawada:

• Aadhar Card & PAN Card (of Proprietor)
• PAN card (if Partnership, Company, LLP etc.)
• DSC (of authorized signatory for entities)
• Passport size photo(s) (of all Partners, Directors, Proprietor)
• Address proof (e.g., utility bill, rental agreement)
• Bank account statement or cancelled cheque
• Authorization form (if the application is filed by an authorized signatory)
• Board resolution authorizing a director to sign the GST application (for Pvt Ltd, Ltd)

Start your GST Registration in Vijayawada with Cqubes

Choose CQUBES to guide and register your GST in Vijayawada. Our dedicated team will navigate you in obtaining essential registrations, certifications and compliance in every step of your GST Registration.