Book My consultant has been closely linked in providing A GST, Advisory Services. We work with business units and assist them out in drafting policies that will have a positive impression on their operations. We furnish a set of (GST) advisory services like comprise the outcome of GST on the business of clients, examining diverse market structure of business models, legislative business level implementation support, transition supervision, and offering key compliance.
All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number also known as GSTIN.
If a business operates from more than one state, then a separate GST registration is required for each state. For instance, If a sweet vendor sells in Karnataka and Tamil Nadu, he has to apply for separate GST registration in Karnataka and TN respectively. A business with multiple business verticals in a state may obtain a separate registration for each business vertical.
According to section 24 of the CGST Act, any person making interstate supplies must obtain registration irrespective of the Rs 20 lakh threshold limit for GST registration. If an unregistered person is willing to make an inter-state purchase, the seller must be registered under GST.
Yes, you can register two different businesses with different trade names under single GSTIN. You must remember to mention all the trade names while applying for the GST registration.
The three types of GST in India are; Central Goods and Service Tax (CGST), State Goods and Services Tax (SGST), Union Territory Goods and Services Tax (UTGST), and Integrated Goods and Services Tax (IGST).
Supplies that attract nil rate of tax (0% tax) are cereals, fresh fruits and vegetables, milk, natural honey, salt, and more. Along with this, petroleum crude, high-speed diesel, motor spirit (commonly known as petrol), natural gas, and aviation turbine fuel are also exempted from GST.
As a sole proprietor, all incomes will be clubbed together for Income Tax purposes and for determining the turnover limits under GST. However, if two firms are operated under different trade names i.e. A Marbles and A General Stores, you would need to apply for separate GST numbers.