GST Registration in Nungambakkam - Filingpoint
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Filingpoint the Goods and Services Tax (GST) is an indirect tax that was implemented in India on July 1, 2017 through the implementation of the One Hundred and First Amendment in the Constitution. It has replaced multiple indirect taxes levied by both the central and state governments and is expected to reshape the country's economy.
GST registration is mandatory for businesses whose annual turnover exceeds Rs. 40 lakhs for goods suppliers and Rs. 20 lakhs for service providers, or those that deal with interstate sales, exports of goods and services, or use the brand name of others in their business. However, even small and new businesses can register voluntarily for GST if they expect to benefit from it.
To register for GST, business owners must fill out Part A of the online application and provide basic details about their business. They must also upload the required documents, including identity and address proofs for all promoters, partners, or directors. Once the application is approved, the business will receive an ARN that can be used to track the status of their GST registration.
There are no government fees associated with GST registration, but some tax consultants and chartered accountants may charge a fee to assist with the process. These fees can range from a few hundred rupees to thousands of rupees, so it's important to carefully consider these costs before choosing a consultant. The most important factor to consider is whether the consultant has the necessary experience and expertise to ensure that your GST registration is handled correctly.
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