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GST REGISTRATION
In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply
GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps.
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GST RETURNS
Every person who is applying for the GST Registration has to file GST return Filing. GST Return is mandatory for each person whose enroll under the GST Registration
There is a lot of the type of the GST Returns which you have to file the monthly basis with one annual return. A registered personal have to file the returns about the following things:
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Total Sales of the Month
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Total Output GST Tax
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Total Purchase of the Month
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Total Input GST Credit Tax
E-WAY BILL
E-way bill is a Electronic document required to be carried by a person in charge of the conveyance carrying any consignment of goods of value exceeding fifty thousand rupees as mandated by the Government It is generated from the GST Common Portal for eWay bill system by the registered persons or transporters who cause movement of goods of consignment before commencement of such movemen
The e-way bill is required to transport all the goods except exempted under the notifications or rules. Movement of handicraft goods or goods for job-work purposes under specified circumstances also requires e-way bill even if the value of consignment is less than fifty thousand rupees
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For transportation of goods in relation to all types of transactions such as outward supply whether within the State or interstate, inward supply whether from within the State or from interstate including from an unregistered persons or for reasons other than supply also e-way bill is mandatory
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REGISTRATION CANCEL
Most persons or entities who supply goods and/or services in India have a GST registration. After obtaining GST registration, sometimes a GST registration may need to be cancelled.
Some of the most common reasons for cancellation of GST registration are closure of business, no requirement to pay GST, transfer of business, change in constitution and no business activity. Surrendering a GST registration will reduce the compliance requirement for the taxpayer, as GST returns would no longer have to be filed monthly
To cancel a GST registration, application must be submitted on the GST Common Portal in FORM GST REG-16 along with the required information. On submission of an application for cancellation of GST registration, the GST officer is required to verify the application and issue an order in FORM GST REG-19, within 30 days from the date of application.
LUT
"Any registered person who intends to supply goods /services to outside India or units covered under SEZ (Special Economic Zone) or developer of SEZ without payment of integrated tax (IGST) is required to furnish Letter of Undertaking (LUT) in FORM GST RFD-11. The following types of persons registered under GST will be allowed to submit a letter of undertaking and undertake export transactions."
The LUT would be valid for 12 months
