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GST Returns/Filing | RP Gupta & Associates

Which business entities require GST?


If you are operating your business from India, maybe, you hold a small business, mid-sized firm, corporation, or industry; you become eligible for Goods & Service Tax. Every business owner needs a GST Identification Number in India, which means, your business needs to go through the GST registration process. People who are new to GST, they can approach RP Gupta & Associates to avail real-time learning and solution on GST registration and filing GST return.


What is GST?


GST or The Goods and Service Tax is an indirect or single tax applied by the Government of India. You may apply for a GST number online as well. If you are a business entity managing any online business or engaged in delivering services such as the restaurant, hotel, factories, shopping, etc., then the Government of India charges tax, which is GST. Under the GST system, every trade owner needs to have a Goods and Services Tax Identification Number (GSTIN) or a GST Number. Every registered person receives a unique identification number. This is a tax identification number that assists the income tax authorities to uphold records of GST payments and dues.

Note:
No association or business can perform business without listing under GST guidelines. Business entities can use the mode of GST registration online as well. Failing to avail of the GSTIN may award rejection of the input tax credit, and sometimes penalties.


Who is eligible for the GST number?


Before applying for register for GST number , one requires to equitable the subsequent benchmarks:

  • Manufacturing units acclaiming the financial turnover Rs 40 lakhs or more

  • Units engaged in service acquiring the financial turnover Rs 20 lakhs or more


Top 10 GST conditions for small and mid-sized businesses


Below are the situations that make it mandatory to have a GST registration certificate:

  • You are based in one state, however, you sell goods or services in an adjoining or another state

  • Business owners selling goods through e-commerce platforms such as Amazon or Flipkart

  • Businesses engaged in the export and import of goods

  • Trades that generate tax invoices for their customers

  • Also, to apply the reverse charge mechanism

  • Entities associated on behalf of the registered taxpayer

  • In case you are an Input service provider (ISD)

  • Companies engaged as a Casual Taxable Payer outside the resident state

  • Business entities beholding an e-commerce site

  • For OIDAR (Online Information Database Access and Retrieval) service


Benefits of GST Number Registration

Being a start-up or limited organization, entities may find various compensations for GST number registration. The benefits of GST registration services in India are easy to reap in the end.

  • You get a wide exemption in sales tax, as you need to pay for the benefit

  • To have a GSTIN means you have a valid business. It gives you an extra edge in front of clients, e-commerce platforms while filing government tenders, etc.

  • It is easy to claim services tax GST due to GST council guidelines

  • GST holds simple requirements on the inter-state movement of goods, especially for e-commerce setups

  • Taxpayers with less than a crore turnover find a Composition Scheme, which enables them to pay GST at a fixed rate of turnover


What if registration for the GST number is avoided? What are GST laws?

  • If your trade falls under mentioned guidelines of GST, then apply for the GST number immediately.

  • If any business avoids GST number registration in New Delhi, then the business is liable to pay a fine.

  • It hardly matters how much your turnover is at the beginning of the business venture. It is mandatory to have GSTIN for your business.


Always remember, if a business has a GST registration certificate, then the Government of India rates and ranks your business differently.


How to apply for GST number

Registration for GST is an easy process. Several firms deliver professional services to assist businesses to register with GST. RP Gupta & Associates bid a wide range of services submissive with GST. The organization offers multiple features that generate a secure business environment for the business. The company also provides a GST late fees calculator so that business entities can calculate their taxation easily. RP Gupta & Associates provides GST invoicing and filing returns for its clients.


How GST apply for online works

You need to get ready with the documents required for GST registration

  • Photographs (passport size)

  • Company PAN Card

  • Proof of address for your offices

  • Identity proofs like Aadhaar Card/Passport/Driving Licence

  • Certificate of association for Private Ltd Company or LLP/ OPC

  • Bank details via a statement/canceled cheque or passbook

  • Partnership deed for partnership firms


How to file GST returns?

There are 37 returns to be filed every year by every business. However, businesses can opt for an online portal and digital format to file GST returns RP Gupta & Associates delivers a relaxed and quick solution for its B2B clients. The team at RPG assists you in exporting a GST income file and helps to file your GST returns effectively.


Why choose RP Gupta & Associates for GST?

The company has experienced and knowledgeable associates that make it simple to understand GST and help to claim GST for the clients.