Gst Registration in Coimbatore
GST is an indirect tax and is generally charged at the point of purchase of certain taxable goods. GST is a form of tax paid to a governing body for the sale of goods. . In simple terms, the GST is an additional amount of money paid while purchasing goods or services.
The Central GST Act governs the taxation laws in the country, extending to the entire country and contains the rules and regulations related to GST. This Act allows the Central Government to levey GST on various products and it is collected by the state government. The Central GST is payable in the state where the particular goods are sold.
Ø VAT/ GST registration is required for any business that is into sales either by way of trading, manufacturing, whether individuals, partnerships, Companies, or other forms of businesses.
Ø Application have to be filled with the local GST Department in the prescribed forms along with specified fees and necessary documents. On completion of the formalities, a Tax Identification Number (TIN) is granted.
Ø When registered for VAT/CST/GST, the manufacturer or trader is allotted a unique 11 digit number which will serve as the VAT Number / TIN Number / CST Number for the business.
As per the rules every service provider has to mandatorily apply for service tax registration if the value of service expected to be service rendered by him in the financial year is more than Rs.10 lakhs. There are over 100 services which are taxable in India, with 17 exceptions. The rate for the service tax is 15 percent and. The tax is applicable only to services you provide in India, as all exports are non-taxable
