GST Services
The only thing we require is a brief explanation or an appointment with Aithas and Associates, and we will take care of the filing of periodic returns. We are well-versed in the Goods and Service Tax Regulations and their implications, so we can offer the best services to our clients with a well-trained GST team.
GST AND APPLICABILITY
If the combined turnover of the supply of goods and services is more than Rs. 9 lakhs, then GST registration is required. The tax payment threshold is set at Rs. 10 lakhs. However, under some circumstances, individuals will be subject to taxation regardless of the threshold or total turnover;
- Persons effecting an inter-state supply
- Persons requiring to pay tax under reverse tax mechanism
- Casual taxable persons
- Non-resident taxable persons
- Persons supplying goods and/or services through an electronic commerce operato
Returns
Every Registered taxable person must furnish every calendar month in prescribed form and manner, an electronic return
- Of inward and outward supplies of goods and/or services
- Input tax credit availed
- Tax payable
- Tax paid and
- Other particulars as may be prescribed
- Within 20 days after the end of such month
GST Registration
It is compulsory to be registered under GST if the existing tax payer is liable to be registered under the Schedule III of the Act within 30 days from the date he becomes liable to registration.
- One can apply for registration voluntarily if not liable to be registered under the Schedule III of the Act
- In case of multiple business verticals in a state there is an option to obtain separate registration for each business vertical.
- PAN card is mandatory.
- Non-resident taxable person may be granted registration on the basis of any other document as may be prescribed.
- Where a person liable to be registered under this Act fails to obtain registration, the proper officer may, proceed to register such person in a manner as may be prescribed
- Any specialized agency of the United Nations Organization or any Multilateral Financial Institution and Organization notified under the United Nations (Privileges and Immunities) Act 1947, Consulate or Embassy of foreign countries and any other person or class of persons as may be notified by the Board/Commissioner shall obtain Unique Identity Number for the purposes notified including refund of taxes on the notified supplies of goods and/or services received by them.
- The registration or the Unique Identity Number shall be granted or rejected after due verification in the manner and within the period as may be prescribed.