REGISTER FOR GST
Goods and Services Tax (GST) is a consolidated indirect tax mechanism that replace VAT, CST, Service Tax, Central Excise duty, Entertainment Tax, etc. and is valid all over India.
Brief About GST Registration
Goods and Service Tax (GST) is a Single tax system which eliminate tax boundaries between all states and create a single market. GST is a consumption based tax levied on sale, manufacture and consumption on goods & services at a national level. This tax is substitute for all indirect tax which was levied by state and central government By incorporating multiple taxes into a single tax system, the complexities would be reduced while tax base would rise substantially. Import and direct tax like income tax, corporate tax and capital gain tax will not be affected by GST. GST would apply to all goods other than crude petroleum, motor spirit, diesel, aviation turbine fuel and natural gas. It would apply to all services barring a few to be specified. The proposed tax system will take the form of “dual GST” which is concurrently levied by central and state government. GST will reduce complexity in taxation and help businesses In the GST tax mechanism, taxes for both Centre and State will be collected at the point of sale. Individuals will be benefited by this as prices are likely to come down and lower prices mean more consumption, and more consumption means more production, this will helping in the growth of the companies and economy.