GST Services
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). The taxation rate under each of them is different.
Benefits and Advantages GST
GST Benefits:-
Advantages of GST:-
Advantages of GST to Consumers
Steps in GST Registration Process
Step-by-step Guide explaining GST Registration Process Online.
FAQs
● What is the meaning of GST?
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
● How many types of GST are there?
There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). The taxation rate under each of them is different.
There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). The taxation rate under each of them is different.
● How do I find the GST number for my service?
To obtain this, you need a valid mobile number (an India number), email address and PAN (Permanent Account Number) for the business. Go to official GST portal - https://www.gst.gov.in/ and under the services tab, choose Services > Registration > New Registration.
To obtain this, you need a valid mobile number (an India number), email address and PAN (Permanent Account Number) for the business. Go to official GST portal - https://www.gst.gov.in/ and under the services tab, choose Services > Registration > New Registration.
● Who is the founder of GST?
Vajpayee set up a committee headed by the Finance Minister of West Bengal, Asim Dasgupta to design a GST model. The Asim Dasgupta committee which was also tasked with putting in place the back-end technology and logistics (later came to be known as the GST Network, or GSTN, in 2015).
Vajpayee set up a committee headed by the Finance Minister of West Bengal, Asim Dasgupta to design a GST model. The Asim Dasgupta committee which was also tasked with putting in place the back-end technology and logistics (later came to be known as the GST Network, or GSTN, in 2015).
● What is the GST number? OR What is GSTIN?
GSTIN is the GST identification number or GST number. A GSTIN is a 15-digit PAN-based unique identification number allotted to every registered person under GST. As a GST-registered dealer, you might want to do a GST Number (GSTIN) verification before entering it in your GST Returns.
GSTIN is the GST identification number or GST number. A GSTIN is a 15-digit PAN-based unique identification number allotted to every registered person under GST. As a GST-registered dealer, you might want to do a GST Number (GSTIN) verification before entering it in your GST Returns.
● What are the slabs of GST?
The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST.
The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST.
● Who is responsible for GST?
Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism.
Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism.
● What is CST and GST?
The short form of Goods and Service Tax is called GST. CST means Central Sales Tax. CST/VAT is charged on sale of goods immediately up on preparation of Sale Invoice or immediately when goods are moved for sale. GST is charged on goods and services at the end stage of distribution of goods.
The short form of Goods and Service Tax is called GST. CST means Central Sales Tax. CST/VAT is charged on sale of goods immediately up on preparation of Sale Invoice or immediately when goods are moved for sale. GST is charged on goods and services at the end stage of distribution of goods.
● What are the main objectives of GST?
Objectives Of GST:-
Objectives Of GST:-
● How do I check my GST registration?
How to Check GST Registration Application Status
How to Check GST Registration Application Status
● Can an individual get a GST number?
All about GST Registration Online in India. GSTIN or GST identification number is a unique 15-digit PAN-based number assigned to every individual registered under GST. Therefore, GST registration is necessary to obtain this number. There may be multiple GSTIN for a single person.
All about GST Registration Online in India. GSTIN or GST identification number is a unique 15-digit PAN-based number assigned to every individual registered under GST. Therefore, GST registration is necessary to obtain this number. There may be multiple GSTIN for a single person.
● What is the GST registration fee?
For GST registration in India, there is no government fee. Anyone can get the GST registration for free of cost.
For GST registration in India, there is no government fee. Anyone can get the GST registration for free of cost.
● Which is better CSE or CST?
There is no big difference between the both as both are Engineering degree courses . If you're interested in both Hardware and Software you may very well choose CSE. If you're interested in only Software, then you may very well choose CST.
There is no big difference between the both as both are Engineering degree courses . If you're interested in both Hardware and Software you may very well choose CSE. If you're interested in only Software, then you may very well choose CST.
● Who is called Father of GST in India?
ATAL BIHARI VAJPAYEE - THE MAN WHO APPROVED GST
It was during a meeting between the then Prime Minister Atal Bihari Vajpayee and his advisors, including three former RBI governors IG Patel, Bimal Jalan and C Rangarajan that the GST was proposed.
ATAL BIHARI VAJPAYEE - THE MAN WHO APPROVED GST
It was during a meeting between the then Prime Minister Atal Bihari Vajpayee and his advisors, including three former RBI governors IG Patel, Bimal Jalan and C Rangarajan that the GST was proposed.
● When did GST start in India?
1st July 2017
The government proposes to introduce GST with effect from 1st July 2017.
1st July 2017
The government proposes to introduce GST with effect from 1st July 2017.
● Is GST and PAN number the same?
GST Identification Number in Brief:
Next ten digits of GSTIN will be the PAN number of the taxpayer. 13th digit indicates the number of registrations an entity has within a state for the same PAN.
GST Identification Number in Brief:
Next ten digits of GSTIN will be the PAN number of the taxpayer. 13th digit indicates the number of registrations an entity has within a state for the same PAN.
● What is GST registration?
The process by which a taxpayer gets registered under Goods and Service Tax (GST) is GST registration. Once the registration process has been completed, the Goods and Service Tax Identification Number (GSTIN) is provided.
The process by which a taxpayer gets registered under Goods and Service Tax (GST) is GST registration. Once the registration process has been completed, the Goods and Service Tax Identification Number (GSTIN) is provided.
● Why GST number is required?
Why is the GST registration necessary? Once registered, a GST registration certificate and a unique 15-digit GST identification number (GSTIN) is provided to the registering entity. This number is used to monitor tax payments as well as the compliances of the registered body by the tax authorities.
Why is the GST registration necessary? Once registered, a GST registration certificate and a unique 15-digit GST identification number (GSTIN) is provided to the registering entity. This number is used to monitor tax payments as well as the compliances of the registered body by the tax authorities.
● What is the HSN & SAC code?
HSN Code. HSN Stands for Harmonized System Nomenclature and SAC stands for Service Accounting Code. It is an internationally adopted system for commodity description and product nomenclature system developed by the World Customs Organization (WCO).
HSN Code. HSN Stands for Harmonized System Nomenclature and SAC stands for Service Accounting Code. It is an internationally adopted system for commodity description and product nomenclature system developed by the World Customs Organization (WCO).
● Which services are exempted from GST?
Exempt services include cultivation, harvesting, supply of farm labor, fumigation, packaging, renting or leasing of machinery for agricultural purposes, warehouse activities, and services by an Agricultural Produce Marketing Committee or Board that is provided by an agent for the sale or purchase of agricultural products.
Exempt services include cultivation, harvesting, supply of farm labor, fumigation, packaging, renting or leasing of machinery for agricultural purposes, warehouse activities, and services by an Agricultural Produce Marketing Committee or Board that is provided by an agent for the sale or purchase of agricultural products.
● Can I do business without GST?
Businesses and individuals are exempt from GST if their annual aggregate turnover is less than a specific amount. At the time of GST implementation in July 2017, businesses/individuals with annual aggregate turnover of less than Rs. 20 lakhs were allowed GST exemption.
Businesses and individuals are exempt from GST if their annual aggregate turnover is less than a specific amount. At the time of GST implementation in July 2017, businesses/individuals with annual aggregate turnover of less than Rs. 20 lakhs were allowed GST exemption.
● Who is required to register for GST?
You must register for GST: when your business or enterprise has a GST turnover (gross income from all businesses minus GST) of $75,000 or more – see Working out your GST turnover. when you start a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation.
You must register for GST: when your business or enterprise has a GST turnover (gross income from all businesses minus GST) of $75,000 or more – see Working out your GST turnover. when you start a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation.
● How many structures are there in GST in India?
The GST tax structure will comprise of the Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST) and Integrated Goods and Service Tax (IGST). The four slab tiers of the GST tax structure will be 5 per cent, 12 per cent, 18 per cent and 28 per cent.
The GST tax structure will comprise of the Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST) and Integrated Goods and Service Tax (IGST). The four slab tiers of the GST tax structure will be 5 per cent, 12 per cent, 18 per cent and 28 per cent.
● What is the current GST rate in India?
In India GST rate for various goods and services is divided into four slabs: they are 5% GST, 12% GST, 18% GST, & 28% GST.
In India GST rate for various goods and services is divided into four slabs: they are 5% GST, 12% GST, 18% GST, & 28% GST.
● What are the main benefits of GST? OR What are the benefits of GST for consumers?
Advantages of GST to Consumers
Advantages of GST to Consumers