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Faster, easier and secure gateway to E-file income tax return

Goods and Services Tax (GST)

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GST or Goods and Services Tax is designed to submerge all existing indirect taxes such as excise duty, custom duty, entry tax, service tax or value added tax into one ground. The focus of this idea is to create a single market for the whole nation. It will be applied at each stage of purchasing and selling goods across India and all states will be covered under the same umbrella strategy.

The key advantages underline:

  • One taxation system
  • Submerging all indirect taxes
  • Easy registration process
  • Only one registration number
  • Global standards of taxation

Bit more about GST knowledge:

So are there many thing left that we must know about this new transition? Well, there few essential things which we must know to get prepared for this transition.

  • Taxpayers will need only one identification number, GSTIN.
  • It will change the business structure of India by encouraging more online transaction.
  • Although, the threshold for GST is different in northeastern states and other states including Union Territories
  • For all over India, the threshold has been set to an annual turnover of INR 20 lakhs excluding the seven northeastern states.
  • For the northeastern states, it is set to an annual turnover of INR 10 lakhs.

Frequently Asked Questions

It is a comprehensive taxation system designed to combine the larger market of india by implementing a single taxation system. this tax will be applicable across the goods supply chain from production to consumption. under this umbrella, the tax payment will be done in a chain system, so, finally the buyer will have to pay the taxes to last dealer under this system.
Though the slogan is “one nation, one tax”, but in reality, this system has two components. the two components are central GST (CGST) and state GST (SGST). the taxes will be levied on all goods transactions except the exceptional ones which will be exempted from tax liabilities.
Although it was announced to be implemented from april, 2017 but due to demand of transition, the date has been postponed to 1st july, 2017.
For all over india, including union territories, the threshold limit is inr 20 lakhs. if your annual turnover is over this limit then you will be taxed under this system. For north-eastern states, the limit is over inr 10 lakhs per annum.
It will impose a 4 tier fixed taxation rate of 5%, 12%, 18% and 28%. also it will impose 0% tax on many items which constitutes 50% of the cpi basket.
If your business turnover is over the specified threshold limit, then you must get registered under GST regulations.
Yes, it is mandatory to have pan number for all indian citizens to apply for GST registration.
A business has to file three monthly returns and one annual return under this law.

GST tax invoice issued by the supplier should contain the following details:-

  • Name, address
  • GSTIN of the supplier
  • Date of issue
  • Name, address and GSTIN / Unique id number of the recipient
  • Name and address of the recipient and the address of delivery,
  • Name of state and its code
  • Description of goods or services
  • HSN code of goods or accounting code of services
  • Quantity and total value of goods or services
  • Rate of tax (CGST, SGST or IGST)
  • Taxable value of goods or services
  • Amount of tax charged
  • Place of supply
  • Place of delivery
  • The word “revised invoice” or "supplementary invoice"
  • Signature or digital signature of the supplier

For exporting under IGST the invoice will also need:

  • Name and address of the recipient
  • Delivery address
  • Name of the country of destination
  • Number and date of application for removal of goods for export
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For enquiries, call us on

:18001025807

For enquiries, call us on

:18001025807