Our professional researcher is working on the GST research that is a single indirect tax aimed at making the country a unified common market. It is imposed on the supply of goods and/or services within India. The consolidation of several different taxes into one is forecast to help the country move forward by eliminating the cascading of taxes. GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
GST Registration U/S22
- 2000 – PM Vajpayee setup a committee to draft a GST law.
- 2004 – A task force concludes GST must be implemented to improve current tax structure.
- 2006 – Finance minister proposes GST introduction from 1st April.
- 2007 – CST to be phased out. Rate reduced from 4% to 3%.
- 2008 – EC finalised dual GST structure to have separate levy, legislation.
- 2010 – Project to computerise commercial taxes launched but GST implementation postponed.
- 2011 – Constitution amendment bill to enable GST law introduced.
- 2012 – Standing committee begins discussion on GST but stalled it over clause 279B.
- 2013 – Standing committee tables its report on GST.
- 2014 – GST bill reintroduced in parliament by finance minister.
- 2015 – GST bill passed in Lok Shaba but not passed in Rajya Shaba.
- 2016 – GSTN go live.
- 2016 – Amended modal GST law passed in both house of parliament. President give assents.
- 2017 – Four supplementary GST bill passed in Lok Shaba and approved by Cabinet. Rajya Shaba passes four supplementary GST bill. Final GST to implemented on July 1,2017.
All business whose turnover is above Rs.20 lakh or Rs.10 lakh (for north eastern states) are expected to do GST registration as a regular taxable person.
Mandatory for following persons:
- Non-Resident taxable individuals.
- Entities engaging in E-Commerce.
- Entities supplying goods & services via E-Commerce operators.
- Individual who are eligible for TDS.
- Entities engaging in the provision of online information or retrieval services or database access.
Documents required for registration
- PAN of the applicant,
- Aadhar card,
- Proof of address of the business place,
- Business registration proof or certificate of incorporation,
- Photograph of director(s),
- Proof of identity of promoters,
- Proof of address of promoters,
- Statement of bank a/c or cancelled cheque,
- Authorisation letter or board resolution for authorised signatory,
- Digital signature