Goods and Service Tax is a tax levied on the user's supply of goods and services. GST is a simplified indirect tax structure. The tax paid on goods and services procured by one person can be availed as credit while passing on the goods and services to the next stage until they reach the final consumer who bears tax incidence.
In the GST Regime businesses, if a turnover from the sale of goods exceeds Rs. Forty lakhs (Rs 20 lakhs for North Eastern and hilly states) or turnover from sale of services exceeds Rs 20 lakhs; it is required to register as an average taxable person. For other businesses, registration under GST is mandatory irrespective of turnover, like those paying tax under the reverse charge mechanism, supply to SEZ, Exports, etc.
We at MKDA. assist you in getting GST Registration in Bangalore in 3-6 working days.
After receipt of all necessary documents, it takes 1 or 2 days to submit the application online. The approval takes around 7 to 15 working days (subject to change depending on cases and departmental processing time)
We at MKDA have speedy and updated GST compliance services with highly experienced GST consultants in Bangalore.
Various services provided by MKDA are as follows:
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A business whose turnover exceeds Rs 20 lakh in a financial year is required to register under GST. A composition scheme has been introduced under GST for small companies operating in India.
Let us help you get your year started right with a fresh set of eyes on your books.