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GST Registration Jaipur Cost With Breakdown
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GST Registration in Jaipur - A Brief
Goods and Services Tax was a system that has been recently introduced as a form of indirect taxation. The earlier system was largely variable and unorganized. Different types of taxes like VAT, Service Tax etc. were impossible to keep track of and regulate especially with variations in different states and the union taxes. This complicated the situation and keeping track of the taxes was almost impossible. GST came in as an umbrella legislation that now encompasses the indirect taxation in our country. With the government and citizen pushing towards more transparency, GST registration acts as a means to this end. It is now compulsory to get GST registration if you are a company with an annual turnover exceeding Rs 20 lakhs in any part of the country or Rs 10 lakhs in case of North Eastern and hilly states. This is a registration that makes your entity individually taxable, as an individual citizen is. Anyone registered under older tax laws has to register again under GST laws.
Goods and services providers have to get Goods and Services Tax registration in Jaipur done as per government policy. GST came into effect on July 1, 2017, and is one more step in boosting and regulating the commercial sector in Jaipur. If your business is liable to be registered, not registering will lead to heavy penalties. A unique 15-digit number is granted after the completion of the GST registration, which is based on the company’s PAN and state code. We list further when the registration is mandatory in Jaipur.
Jaipur has two UNESCO world heritage sites. One of them being the Amer Fort and the other one is the Jantar Mantar. Jantar mantar is a collection of 19 astronomical instruments. It has the world’s largest stone, known as sundial. The name of the monument is derived from Sanskrit language which means yantra and mantra, which means formula, rules and instruments. From here one can witness astronomical activities with naked eyes.
Reasons for a GST registration in Jaipur
GST has helped unify as well as simplify the way taxes are filed, handled and regulated. We summarize some of the reasons why Goods and Services Tax registration in Jaipur should be done:
- Tax Input - Taxes on purchase can be input and availed. This is only possible for GST registration holding entities.
- Business Expansion - A GST registration holder company has various opportunities to expand their business like taking it anywhere. Only these entities can perform an interstate business, which provides for various possibilities. Only registered companies can take part in e-commerce.
- Tenders - Various endeavors by the government require tenders to be filled in but by mandatory GST id. If you don’t have this id, you might be restricted from taking part in these tenders, which can hinder business growth.
- International companies - International companies like MNCs and TNCs have been attracted to the Indian subcontinent due to government intervention and other perks like availability of cheap skilled labor, large domestic market etc. They feel comfortable with GST registered companies to put faith in.
- B2B customers -Customers engaged in B2B business are very aware of the market functioning. They need entities that are legitimate, recognized and trustworthy. This can be easily achieved when you are a company holding GST registration.
Company Vakil is the leader in the arena of GST registration in India. A resilient team of skilled law professionals and taxation experts backs all our clientele and us.
Contact us today; to become a GST registered company in Jaipur.
Why I need GST registration in Jaipur
A GST registration is not only the need but a mandatory provision of the hour. If you evade your tax liabilities, you can be heavily penalized according to the latest code. It is a duty and a liability for all the owners of any entity.
Process for GST Registration Jaipur
Company Vakil has been a leader in the arena of taking all your business online and welcoming your entity to the digital era. We make sure you receive your registration and continued benefits with us without worrying about a single thing. We list down the process of getting GST registration in Jaipur here in brief:
- Visiting the portal - The whole process of taxation has been simplified now. To attain a GST registration, you need to visit the government portal or let Company Vakil handle the work for you at a nominal cost
- Applicant’s details - The details of the applicant have to be filled in. These include a registered PAN number, name, mobile number for verification etc. You will get verification done by the phone number.
- Entity details - Entity details includes the official registered the name, the email address has to be entered. Place of business has to be mentioned.
- Details of partners - Details of all the partners have to be mentioned. These partners and directors are to be verified and identified.
- Bank details - Details of the registered bank account of the company have to be filled in. This is a crucial step in ensuring your GST registration.
- Commodity details -Details of commodities have to be filled in. What kind of services or products, you provide in the market, has to be clearly specified. This is because of the difference in tax brackets for different commodities.
You get a login id and password to the government portal where you can check your application status. Contact us to make this process flow with ease as you focus on achieving your maximum potential.
Minimum Requirements for GST registration in Jaipur
The company has to be registered in the Indian Territory and/or authorized to conduct business here. It has to hold a company registration by legitimate means, which can be obtained online now. An MSME registration is also valid to achieve a GST registration. The person applying for the registration has to be liable for taxation in Jaipur and any person who is so liable but does not register will be penalized heavily under the new tax regime. The company should hold PAN card and entity information. This PAN card is a very integral part to GST registration and an absence will result in refusal of the same. Personal identity proof along with photographs has to be provided. There has to be at least one resident director of the company, or more depending on the provisions. Valid mobile number, email address and proof of the place of business have to be provided. These are necessary details required for the process. An account in the name of the company has to be recognized and the details of the same have to be provided. A company with annual turnover of Rs 20 lakhs and Rs 10 lakhs in case of hilly states has to get GST registration done as a mandated move. Anyone under any previous tax regime has to enter into GST one too.
Documents required for GST registration Jaipur
- Photographs and details of promoters/member - All the people who are members have to provide identity proof along with photo id for verification.
- PAN and registration proof - PAN number of the company is mandatory for GST registration. The proof of registration of the company or incorporation has to be provided.
- Constitution of the taxpayer - There has to be a proof of the constitution of the company to ensure its existence and legitimacy. The role players of the company have to be specified and the same has to be authorized with proof. These documents will be later verified.
- Proof for the place of business - Proof of place of business and where it extends has to be provided. Documents that specify and provide the necessary proof of the place of business of the company have to be provided. This helps in keeping track as well as making sure you can expand your business without any legal complexities. These could be utility bills, ownership proof etc.
- Bank account details - Bank account details of the company have to be given. This is mandatory as well as helpful for both the parties. Clear details of the account have to be given.
- Authorization form - An authorization form signed by an authorized signatory is relevant to the GST registration process. This acts as a declaration and proof that the business is authorized, legal and legitimate by lawful means.
- DSC - Digital Signature Certificate is mandatory for registration and verification. It can be achieved easily online.
Advantages & Benefits of GST registration in Jaipur
There are many benefits to getting your GST registration, which include, but are not limited to the following:
- Legal Recognition - Once you get your GST registration, you are entitled to a legal recognition in the commercial arena. This helps in growing your business and putting trust into your entity. It makes it easier to invest in your company as well as for faith by your associates, vendors, customers etc.
- Tax Input - Taxes on purchase can be availed by inputting them, which helps make sure that you receive the benefits. This is done only when you have a GST registration.
- Tax Collection - This provides legal authorization for tax collection from consumers and passes on the taxes hassle-free. This is only doable when you are registered for the same under GST.
- Benefits - Any benefits aimed at growing businesses especially the small ones can be obtained easily. The government has focused on different benefits through policies and schemes to uplift the commercial arena and also regulate it with ease. These can be availed without delay or fault once you achieve GST registration. Tenders can also be gained with easy verification by your GST id.
- Proper Accounting - GST registration ensures proper accounting for your goods and services. This provides transparency and guarantees that you can avail tax payments that are due on the supply of goods and services.
Contact Company Vakil to get you Goods and Services Tax registration in Jaipur and avail all these benefits with ease.
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FAQ 's related to GST Registration Jaipur
Can a foreign co. register ?
A foreign company is liable to register in the territory of India because of the conduct of business has to be registered under the GST framework.
Is the registration mandatory for all businesses?
Yes, if you come under the ambit of the registration, you are liable to registration. Evading the same can lead to penalization.
Can GST registration Jaipur be done without Co. Incorporation?
No. The same is not possible and you will have to incorporate the entity before you can apply for GST registration.
Is an entity liable for registration if it does not have a place of business in the particular state?
If you are providing goods or services in a particular state but are based elsewhere, you are still liable for GST registration in the state.
Are citizens liable under GST to be registered?
Yes, a casual taxable person or a non-resident taxable person has to register under GST.
Do companies in e-commerce have to register too?
It is mandatory for companies performing business online to get a GST registration.
Are there penalties for non-compliance?
The new GST framework provides for heavy penalties in case of default. Hence, get your GST registration done today.
If a company is not based in India but provides only online services, should it be registered?
Yes, it is mandatory to register such a company in India to track all liabilities and for verification purposes.
Do existing taxpayers have to register again under GST?
Yes, even existing taxpayers have to get GST registration.
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