Have any question?
+91-9074346127
GST (Goods and Service Tax) – Overview
The Goods and Services Tax (GST) is a type of tax on the consumption of goods and services in countries, collected by businesses from consumers and paid to the government. It was introduced officially in India on 1 July 2017, replacing the earlier system of multiple taxes, such as excise duty, service tax, and value-added tax (VAT).
​
The 101st Constitutional Amendment / One Hundred and First Amendment Act, 2016 of the Constitution of India is a significant piece of legislation that has had a prominent impact on the Indian economy. It was passed in 2016 to introduce the Goods and Services Tax (GST), a value-added tax (VAT) that has simplified the tax system and boosted economic growth. This constitutional amendment was introduced as a nationwide Goods and Services Tax (GST) concept in India.
​
GST registration is mandatory for all businesses with an annual turnover of more than ₹40 lakhs (₹ 20 lakhs for businesses in special category states).
What is GSTIN?
GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit number assigned to every taxpayer registered under the GST regime in India. The GSTIN is used to identify taxpayers and to track their transactions.
The GSTIN is structured as follows:
-
The first two digits represent the state code.
-
The next ten digits are the PAN card number of the taxpayer.
-
The thirteenth digit is an entity code used to distinguish between different types of taxpayers.
-
The fourteenth digit is a fixed alphabet 'Z'.
-
The fifteenth digit is a check digit, which is used to verify the accuracy of the GSTIN.
What is a GST Certificate?
A GST certificate is a document issued by the Government of India to a taxpayer or entity that has registered under the GST system. It is proof of registration and authorises the taxpayer to collect GST from customers on behalf of the government
The GST certificate contains the following information:
-
GST Identification Number (GSTIN)
-
Name of the taxpayer
-
Address of the taxpayer
-
Date of registration
-
Type of registration (regular, composite, or non-resident)
-
Business category
-
Signature of the authorised officer
Who Needs a GST Registration Service?
-
Any individual or business entity that carries out taxable supplies of goods or services
-
Annual turnover of the business exceeds the prescribed threshold limit (currently ₹20 lakhs for most businesses)
-
E-commerce operators that facilitate the supply of goods and services through their platform
-
Non-resident taxable persons who occasionally supply goods or services in India
-
Businesses that are involved in inter-state supply of goods or services
-
Input service distributors who distribute input tax credit to their branches or units
-
Casual taxable persons who supply goods or services occasionally in India
-
Businesses that were previously registered under the old tax regime (VAT, Service Tax, etc.) and have migrated to GST.
Documents Required for GST Registration
Business type
-
Individual
​
-
Partnership
​
-
Company
​
-
Non-resident
Required documents
​​
- PAN card, Aadhaar card, bank account statement or cancelled cheque, passport-size photograph
- PAN card of the firm, partnership deed, Aadhaar cards of all partners, bank account statement or cancelled cheque, passport-size photograph of one partner
- PAN card of the company, company incorporation certificate, Memorandum and Articles of Association, Aadhaar card of the authorised signatory, bank account statement or cancelled cheque, passport-size photograph of the authorised signatory
- PAN card of the non-resident, passport, Aadhaar card or any other proof of address, bank account statement or cancelled cheque, passport-size photograph
How Can We Help You - Why Seller Planets?
-
We offer a hassle-free online GST registration process, with complete guidance from our experienced legal representatives.
-
We take care of all your GST compliance needs, so you can focus on running your business.
-
We ensure that all your GST returns are filed on time and accurately.
-
Although the GST portal has a user-friendly interface, the GST Forms have a lot of complex fields.
Start Selling Today
Put your products in front of the millions of customers that search Amazon.in every day.