GST Registration

GST Registration in Hyderabad is so simple. It is an acronym for Goods and services tax, it has been integrated with all the taxes such as sales tax, service tax, excise duty etc. GST registration is very mandatory if your annual income is across 20 lakhs per annum. To avoid further complications, we recommend you to register GST even if your annual income is less than 10 Lakhs.

Eligibility

  • If an annual income turnover is above the limit of 20 lakhs per annum
  • If you have any branches in multiple states or multiples business branches in one state.
  • If you have any supplies to neighbor states
  • Agents of a supplier
  • If you are a supplier of goods and services, which delivered through the e-commerce platform.
  • Supplying online information and database access or retrieval services from foreign countries to an Indian citizen.

13 + 3 =

Advantages Of GST

  • GST registered person has a right to collect taxes from his clients to pass the taxes paid to them
  • A person will be eligible to claim input tax credit for taxes paid to his suppliers and can redirect the same amount of paying his tax dues
  • Required Documents for filing GST
  • Aadhaar card of owners/ partners/ directors.
  • PAN card of owner, partners, and directors.
  • Address proof as any one of the electricity/ telephone/ rental agreement or NOC
  • MOA/AOA or partnership deed
  • Bank statement/ canceled cheque

Disadvantages of Unregistered GST

  • You will not get any tax refunds on your business purchases for example if you bought any goods of worth Rs 10 lakh per annum, and the tax rate is 28%, in this case, you will not be eligible to get a tax refund of 280000)