Guide for Goods & Services (GST)

With great business comes great responsibilities. Are you ready to be a successful entrepreneur? Or still, you are lacking with some information related to taxes i.e. GST online registration, hot to pay GST? how much to pay? whom to pay?

Don’t worry we have covered all your particulars. So GST registration is something everybody requires at some point to grow a business or to start a  new, we have a team of experts, who knows better where to invest and how to invest.

Also, one of the best advantages so far of filing GST is you can split the amount between manufacturers and service provides. By doing this you can lessen the burden of taxation.

Let’s talk about some of the hot topics under GST:

Topis under GST 

GST Basics

GST is also known as goods & service tax. It was first launched on 1 June 2017 at the parliament of India. Previously, it was divided into two subcategories of direct and indirect tax 

The purpose of GST is to split the burden of taxation between manufacturers and service providers. Over a period of time after getting rejected by our parliament of India.

GST Rates & HSN Code

Where about all goods and services transacted in India are classified under the SAC code system or HSN Code system. These are the code on behalf of which rates are selected i.e. 5%, 12%, 18%, and 28%. Wherein HSN Codes are for goods and SAC signifies for services. 

GST Returns

Every month 3 Returns and 27 in a year for typical registered business i.e. (GSTR-1, GSTR-2, and GSTR-3) in each state where they perform. The annual return is also required.

This means a business will have to complete 37 returns as per the norms in each state where they are trading.

Invoicing

The document that itemizes and records a transaction between a buyer and a seller. If goods or services were purchased on credit, the commercial record usually defines the terms of the deal and presents information on the convenient methods of payment.

Composition Scheme

Composition Scheme is for big business or medium-sized like suppose a taxpayer whose turnover is less than 1 cr. It is a very easy scheme for taxpayers under GST. 

Why choose Leading file for GST Demo?

Payment Mode

We promote all kinds of payment modes for our customers. Even if you are opting or planning to pay in installments we do have options for you I.E. EMI and other online payment modes as well. 

24/7 Team Support

For the betterment of customer experience, we also have 24/7 team for your support. No matter what inquiry you are looking for related to GST. We have professionals for your support all the time.

500+ Team Supporter and a network of 4000+

Our Key GST Registrations

We have in total of 3 types of registration:

Simple GST Registration 

In Simple GST Regime, firms whose turnover exceeds Rs. 40 lakhs* and Rs 10 lakhs for NE and hill states are required to enroll as a normal taxable person. GST registration is mandatory for them.

GST Registration for Foreigners  

If a person is a Non -Resident Taxpayers than it is required to collect as a Non-Resident Foreign Taxpayer. Within the 5th day of the undertaking of business. The agent through which the Non -Resident is approaching for doings the formalities should be at least a resident of India.

Temporary GST Registration

It is for casual GST Registration /Temporary Business transactions.

Benefits of Filing GST 

It is like an indirect tax with tons of other benefits. Following are some of the common benefit:

  1. GST reduces the cascading impact of tax

  2. Raised threshold for registration

  3. Planning scheme for small industries

  4. Unorganized sector is administered under GST

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