Hassle-free GST Registration Services in Hyderabad
GST means Goods and Service Tax, and this indirect tax was introduced on 1st July 2017 to replace different indirect taxes, like excise duty, purchase tax, service tax, VAT, and more. If you are running a business unit, it is mandatory to follow the GST registration. Well, the process may be a little complex, but you can get it done by opting for the best GST Registration Services in Hyderabad.
Get Your GST Registered By Professionals
Benefits of GST for Businesses
- GST eliminates different indirect taxes, simplifying the taxation process.
- As per the experts, GST may lower the costs of products and services in the long run
- Taxpayers whose yearly turnover is more than Rs. 40 lakhs for goods and Rs. 20 Lakhs for services should register themselves under GST. That means small businesses may not need to opt for GST registration.
- You will have a tax-compliant business unit.
- Claiming your input tax credit will be easier.
- You can apply for different central and state government tenders.
Types of GST Registration
- Voluntary Registration: Some businesses can apply for GST registration on a voluntary basis.
- Compulsory Registration: Some businesses or dealers need to register themselves under GST no matter what is the annual turnover. For instance, e-commerce operators, inter-state sales of various taxable items, online sellers, and more
- GST registration under the composition scheme- If the yearly turnover is more than Rs. 40 lakhs for goods or Rs. 20 Lakhs for services, then the business can apply for a GST registration under the composition scheme. You will have to pay your GST at a fixed rate on your yearly turnover under this scheme.
Who Needs GST Registration Number?
- If you have a business that sells products and services outside the country.
- If the annual turnover of your business is more than Rs. 20 lakh per year for services or Rs. 40 lakhs for goods.
- If you cover more than one state
- If you are selling products and services online.
- Businesses that have previously registered under Service Tax, Excise laws, and VAT.
Penalties Involved Under GST Act
- For late filing- It will attract a late fee of Rs. 100 per day as per the Act
- For not filing- Without filing your GST return, you can’t file subsequent returns. The penalty for Nill’s return is Rs. 20, and for regular return, it is Rs 50 per day.
- No GST registration and opting for composition scheme even if you are not eligible- Penalty of Rs. 10,000 or 100 percent tax Due.
- Incorrect billing- A fine of Rs. 25,000 will be collected.
List of documents required for GST registration
To get the GST registration number for your business in Hyderabad,
you will have to submit the following documents:
- Business address proof
- Applicant’s Aadhaar and PAN card
- Address and identity proof of director along with photographs
- A canceled cheque or business bank account statement
- Company incorporation certificate or you can also submit your business registration proof.
- Letter of the authorization
- Valid digital signature certificate
Service we offer
GST services- Agarlaws offer professional GST Registration Services in Hyderabad, and we handle the registration procedure without any mistake. We also offer technology-based accurate GST reconciliation processes. Contact us now to know more about our GST services.
GST Advisory Services- As a leading and trusted GST consultant in Hyderabad, we advise our clients regarding GST registration and amendments and other **goods and services tax-**related issues while offering assistance in GST return filing.
Why choose Agarlaws?
If you are looking for the best GST Registration Services in Hyderabad, then don’t think much and get in touch with Agarlaws now. The experts at Agarlaws have years of experience in this field and make the GST registration process simple. Besides, we can assist you in filling up forms like GSTR-3B and GSTR-1. What’s more? Our professional accountants can also handle your business’s GST Audit. We understand the country’s GST law and will guide you in every step.
FAQ's
In general, GST is divided into three different categories. These are IGST- Integrated Goods and Service Tax, CGST- Central Goods and Service Tax, and SGST- State Goods and Service Tax.
The rates for SGST and CGST are generally levied by the Central and States Government.
Businesses with an annual turnover of more than Rs. 20 lakhs for services or Rs. 40 Lakhs for goods, along with goods of Rs. 40 lakhs, are required to get a GST registration number in Hyderabad.