Subject : India GST Online Registration Process, Application Form Download, Online GST Rates.
What is a Goods and Services Tax (GST)?
Goods and Services Tax (GST) is a single indirect tax in India which has been recently introduced to subsume all other taxes like Services Tax, VAT, Sales tax, Luxury tax, Entertainment tax, excise law etc. GST registration is mandatory if your turnover is more than 20 lakhs or your are mandatory liable to be registered like if you are a inter state trader or e-commerce seller or e-commerce market place etc.
Service Taxes for GST :
The GST Council has in the meeting on May 19, 2017 finalized the rate structure for Services in 4 slabs - 5, 12, 18 and 28% in line with those applicable to goods.
Registration Process For GST :
Using the reference number generated the applicant shall electronically submit an application in Part B of FORM GST REG-01, duly signed or verified through electronic verification code (EVC), along with documents specified in the said Form at the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.
On receipt of an application, an acknowledgement shall be issued electronically to the applicant in FORM GST REG-02.
A person applying for registration as a casual taxable person shall be given a temporary reference number by the Common Portal for making advance deposit of tax in accordance with the provisions of section 27 and the acknowledgement shall be issued electronically only after the said deposit.
Issue of registration certificate :
The application for grant of registration has been approved, a certificate of registration in FORM
GST REG-06 showing the principal place of business and additional place(s) of business
shall be made available to the applicant on the Common Portal and a Goods and Services Tax
Identification Number (hereinafter in these rules referred to as “GSTIN”) shall be assigned to
him in the following format:
GSTIN Number Format :
(a) two characters for the State code;
(b) ten characters for the PAN or the Tax Deduction and Collection Account Number;
(c) two characters for the entity code; and
(d) one checksum character.
Application for refund of tax, interest, penalty, fees or any other amount :
Any person, except the persons covered by notification issued under section 55, claiming refund
of any tax, interest, penalty, fees or any other amount paid by him, may file an application electronically in FORM GST RFD-01 through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner .
Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷ Adjusted Total Turnover .
"Refund amount" - means the maximum refund that is admissible;
"Net ITC" - means input tax credit availed on inputs and input services during the relevant period;
"Turnover of zero-rated supply of goods" - means the value of zero-rated supply of goods made during
the relevant period without payment of tax under bond or letter of undertaking;
"Turnover of zero-rated supply of services" - means the value of zero-rated supply of services made without payment of tax under bond or letter of undertaking, calculated in the following manner, namely:- Zero-rated supply of services is the aggregate of the payments received during the relevant period for zero-rated supply of services and zero-rated supply of services where supply has been completed for which payment had been received in advance in any period prior to the relevant period reduced by advances received for zero-rated supply of services for which the supply of services has not been completed during the relevant period;
"Adjusted Total turnover" - means the turnover in a State or a Union territory, as defined under subsection, (112) of section 2, excluding the value of exempt supplies other than zero-rated supplies, during the relevant period.
“Relevant period” - means the period for which the claim has been filed.
In case of refund on account of inverted duty structure, refund of input tax credit shall be granted
as per the following formula .
Maximum Refund Amount = {(Turnover of inverted rated supply of goods) x Net ITC ÷ Adjusted Total Turnover} minus tax payable on such inverted rated supply of goods .
Explanation: The meaning of the term “Net ITC” and “Adjusted Total turnover” shall have the same
meaning as assigned to them.
What is a Goods and Services Tax (GST)?
Goods and Services Tax (GST) is a single indirect tax in India which has been recently introduced to subsume all other taxes like Services Tax, VAT, Sales tax, Luxury tax, Entertainment tax, excise law etc. GST registration is mandatory if your turnover is more than 20 lakhs or your are mandatory liable to be registered like if you are a inter state trader or e-commerce seller or e-commerce market place etc.
The GST Council has in the meeting on May 19, 2017 finalized the rate structure for Services in 4 slabs - 5, 12, 18 and 28% in line with those applicable to goods.
- Luxury services taxed @28% - covers Cinemas, 5 star Hotels & Restaurants, Hotels charging rent more than Rs.5,000/- per day, betting.
- Services under 18% - Banking , Financial Services, A/C Restaurants serving liquor, Hotels and lodges with tariff of Rs 2,500-5,000 .
- Services under 12 % - Non A/C restaurants not serving liquor, business class Economy class air travel, Hotels and lodges with tariff of Rs 1,500-2,500 .
- Services under 5% - Transport services (Railways, air transport), cab aggregators Economy class air travel
Registration Process For GST :
The Candidate / Firm before applying for registration, declare his Permanent Account Number (PAN), mobile number, e-mail address, State or Union territory in Part A of FORM GST REG-01 on the Common Portal, either directly or through a Facilitation Center notified by the Commissioner . After Verifying by the officials.
After successful verification of the PAN, mobile number and e-mail address, a temporary reference number shall be generated and communicated to the applicant on the said mobile number and e-mail address.
Using the reference number generated the applicant shall electronically submit an application in Part B of FORM GST REG-01, duly signed or verified through electronic verification code (EVC), along with documents specified in the said Form at the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.
On receipt of an application, an acknowledgement shall be issued electronically to the applicant in FORM GST REG-02.
A person applying for registration as a casual taxable person shall be given a temporary reference number by the Common Portal for making advance deposit of tax in accordance with the provisions of section 27 and the acknowledgement shall be issued electronically only after the said deposit.
Issue of registration certificate :
The application for grant of registration has been approved, a certificate of registration in FORM
GST REG-06 showing the principal place of business and additional place(s) of business
shall be made available to the applicant on the Common Portal and a Goods and Services Tax
Identification Number (hereinafter in these rules referred to as “GSTIN”) shall be assigned to
him in the following format:
GSTIN Number Format :
(a) two characters for the State code;
(b) ten characters for the PAN or the Tax Deduction and Collection Account Number;
(c) two characters for the entity code; and
(d) one checksum character.
Application for refund of tax, interest, penalty, fees or any other amount :
Any person, except the persons covered by notification issued under section 55, claiming refund
of any tax, interest, penalty, fees or any other amount paid by him, may file an application electronically in FORM GST RFD-01 through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner .
Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷ Adjusted Total Turnover .
"Refund amount" - means the maximum refund that is admissible;
"Net ITC" - means input tax credit availed on inputs and input services during the relevant period;
"Turnover of zero-rated supply of goods" - means the value of zero-rated supply of goods made during
the relevant period without payment of tax under bond or letter of undertaking;
"Turnover of zero-rated supply of services" - means the value of zero-rated supply of services made without payment of tax under bond or letter of undertaking, calculated in the following manner, namely:- Zero-rated supply of services is the aggregate of the payments received during the relevant period for zero-rated supply of services and zero-rated supply of services where supply has been completed for which payment had been received in advance in any period prior to the relevant period reduced by advances received for zero-rated supply of services for which the supply of services has not been completed during the relevant period;
"Adjusted Total turnover" - means the turnover in a State or a Union territory, as defined under subsection, (112) of section 2, excluding the value of exempt supplies other than zero-rated supplies, during the relevant period.
“Relevant period” - means the period for which the claim has been filed.
In case of refund on account of inverted duty structure, refund of input tax credit shall be granted
as per the following formula .
Maximum Refund Amount = {(Turnover of inverted rated supply of goods) x Net ITC ÷ Adjusted Total Turnover} minus tax payable on such inverted rated supply of goods .
Explanation: The meaning of the term “Net ITC” and “Adjusted Total turnover” shall have the same
meaning as assigned to them.
