Do you know that you need a GST registration if you want to sell either online or outside your state? Yes, there are many cases where GST registration becomes mandatory even if the total turnover is less than Rs.20 lakh (or Rs.10 lakh as the case may be).
As said, the professionals were once taxed at 10% which subsequently increased to 15% and after the introduction of GST; the same is now taxed at 18%. So whatever they say, the higher tax is hurting the sentiments of professionals.
Input tax credit (ITC) is said to be the soul of GST. GST is based on one of the main problems of the current taxation system, i.e. cascading effect. Hence, it is imminent that this article is very important under GST regime.
The GST registration certificate for all the existing taxpayers shall be available to download from GST website from 27th June, 2017. This facility shall be only available to person who got themselves migrated under GST.
The new GST registration shall start from 25th June, 2017 and hence the long wait is now all set to over. The fresh GST registration window shall open on 25th June, 2017 and the complete rollover of GST laws shall be implemented from mid night of 30th Jun