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CHENNAI : It is the capital of Tamil Nadu and is located in the eastern India. It is one of the biggest economical , Cultural and educational centers of India . The Quality of living survey also state that Chennai is the safest city in India In the year 2015 it is also ranked to be the 43rd most visted city in the world. It attracts various tourist as they are having Chennai Central , Marina Beach , Madras High Court , TIDEL Park , Ripon Building , San Thome Basilica , Kapaleeshwarar Temple etc.
When the GST bill had been introduced in India, it had sparked innumerable debates throughout the name and also had replaced the old taxation system in India, it had replaced the service tax, sales tax etc., and had submersed into one uniform system of taxation, known as GST i.e. Goods & Service Tax. Hence, a business which has an annual turnover exceeding the threshold of 20 Lakhs per annum, should mandatorily update their GST number with the concerned authorities. The main motive behind introducing GST is ‘one nation, one tax’ hence GST is a singular & comprehensive method of taxation, though it has received a lot of flak from the opposition and has become a trending topic, the fact that it aims at the greater good of simplification of taxation system in the country cannot be possibly overlooked. The GST Act had been enacted keeping in purview the regulation of taxation system in the country. Furthermore, the GST registration by the suppliers or the businessmen helps in establishing a trade relationship that is free from any sort of geographical tax barrier. The government has kept the interests of all the communities in the country and has special thresholds for lesser developed states that of the North Eastern States or Himachal Pradesh, their GST registration threshold has been set at 10 Lakhs Per Annum. GST Registration in Chennai has hence taken shape into the Indian Taxation System and Economy, with advantages and reasons why should one opt for GST Registration in Chennai
There are several reasons why one should opt for GST registration in India, except for the fact that it seeks to unify the taxation system of India. The reasons for getting a GST registration are as follows:
GST Registration in Chennai is done in order to receive a GSTIN (Goods & Services Tax Identification Number) through which the business holder and supplier can reap the benefits that the GST has to offer. CompanyVakil.com specializes in registration and operation of GST Chennai ; the experts are well versed with the provisions of Goods and Service Tax Registration in Chennai which minimizes the scope of any shortcomings in the application. The procedure of getting GST Registration done at the government portal can be elucidated as the following:
There are certain pre-requisites that the business operator has to abide by in order to get a successful GSTIN registration done, which are as following
There are certain documents that are required in order to get Goods And Service Tax Chennai successfully done; the documents so required for GST registration are as follows:
GST Registration has a huge array of advantages and benefits that can be reaped by the supplier, apart from being a unique and individual taxing unit, the advantages of GST Online Chennai are as follows:
The Aggregate Turnover Threshold for the North Eastern States is 10 Lakhs.
No, an unregistered entity cannot collect GST Registration in India
No, a PAN Card is not necessary for a non-resident applicant, the non-resident applicants have to abide by certain other parameters laid down in the act.
Yes, a GST can be voluntarily revoked and canceled.
No, there has to be a fresh application that needs to be filed.
No, there is no special dispensation for EOUs.
The particulars to be mentioned in the GST Invoice are given in Section 31 of CGST Act and Rule 46 of CGST Rules, 2017.
ISD stands for Input Service Distributor
ITC stands for Input Tax Credit
ITC can only be used for concerns regarding the commercial use in the business and not for any personal or miscellaneous use.