GST Services

GST Registration

GST (Goods and Services Tax) is essentially an Indirect tax which has been implemented to replace numerous taxes in India. Onlne GST registration was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India. As per the changes in the 32nd council meeting, the threshold limit for GST registration is 40 lakhs for the supplier of goods and 20 lakhs for the supplier of services. Along with that, the North-Eastern States have an option to choose between 20 lakhs and 40 lakhs. Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number). There are various advantages of GST registration. You can also avail input tax credit and collect GST from recipients of goods and services.

Online GST registration can be easily done by visiting Online GST portal. It is easy to fill the form on GST online portal yet at the same time you require the expert's to fill the form with accurate information and submit the documents accordingly. Few of the terms while drafting for GST registration cannot be understood by many of the taxpayers. Therefore at the initial stage GST registration should be done with the help of experts and here at Legaldocs, you will be able to get done with your GST registration with a simple and quick process.

GST Filling

As per the GST law, every individual/Company/LLP registered under the GST Act has to furnish the details of sales, purchases and the tax paid by filing for GST returns with the administrative authorities.

As a business person/ firm, one of your first priorities will be to do is GST return filing. Hence, knowing the ropes can help you make the process smoother and simpler. While filing a GST return, you are supposed to provide all the particulars related to your business activities, like the tax liability declarations, tax payments and also any other related information as per instructions provided by the government.

The GST return filing process has to be done electronically in the GST portal. A facility has to be offered for the manual process of GST return filing tasks. This facility helps the business taxpayer in India to prepare the return offline and then upload it on GSTN through the facilitation center. There are also various components of GST returns filing that you need to know about.

The GST return mainly includes purchases, output GST on the sales, input tax credits as per GST paid while making the purchases, and also includes the total sales. In order to file the GST return, the purchase invoices and GST compliant sales are needed.

GST Audit

The earlier indirect tax laws restricted audit by a chartered accountant to State VAT and Central State Tax laws of certain states. Likewise, Special Audit was suggested in the Central Excise and Service Tax. This took place only in cases where there was a doubt regarding undervaluation or excessive credit by the taxpayer.

GST Assessment

Under GST, the term “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment. ... Section 62 – Assessment of registered taxable person who have failed to file the tax returns.

Assessment as the name suggests is a process whereby a person first assesses, tax payable by him, pays the tax and then files the return furnishing the details of how he has arrived at the tax payable by him.