
TRADEMARK IN INDIA: REGISTRATION PROCEDURE AND COST
Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
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Beginning July 2017, Goods & Services Tax (GST) could be applicable to all Indian provider companies (including freelancers), investors and producers, once they deliver turnover crosses Rs. 20 lakh. The GST is an all-in-one tax that subsumes a diffusion of state (VAT, Entertainment Tax, Luxury Tax, Octroi) and principal taxes (CST, Service Tax, Excise Duty). GST is to be charged at every step of the supply chain, with entire set-off blessings to be had. The procedure for GST is completely online and requires no guide intervention. A composition scheme may also be there below GST for businesses with a deliver turnover of much less than Rs. 50 lakh.
Do you want GST Registration?
A commercial enterprise element that is proper now enlisted under any of the cutting-edge assessment administrations then it’s far necessarily required to transport below GST law independent of the brink limits. The taking after focal and country stage duty administrations will quit with the presentation of Goods and Service Tax (GST)
Central Excise obligation
Service Tax
State VAT
Central Sales Tax
Entry Tax (all forms)
Luxury Tax
Entertainment and Amusement Tax (besides when levied through the local our bodies)
Purchase Tax
State Surcharges and Cesses to date as they relate to supply of products and offerings
Taxes on lotteries, making a bet and gambling
Be that as it is able to, in the occasion that you are imparting merchandise and organizations and not enrolled beneath any contemporary cost administrative then you definitely are obligated to enlist just if the overall turnover in any budgetary yr surpasses as a long way as feasible. The modern-day part restrain indicated with the aid of the GST board is 20 lakhs for each one of the states aside from the North Eastern States wherein the breaking factor is 10 lakhs
How will the goods and services be classified under GST regime?
HSN (Harmonised System of Nomenclature) code will be used for classifying the goods under the GST regime. Taxpayers whose turnover is above Rs. 1.5 crores but below Rs. 5 crores shall use 2 digit code and the taxpayers whose turnover is Rs. 5 crores and above shall use 4 digit code. Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices. Services will be classified as per the Services Accounting Code (SAC)
Can composition scheme be availed, if the taxable person effects inter-State supplies?
No, composition scheme is applicable subject to the condition that the taxable person does not affect interstate supplies.
No, customer who buys goods from taxable person who is under composition scheme is not eligible for composition input tax credit because a composition scheme supplier cannot issue a tax invoice.
Are promotional items and/or free samples subject to GST?
Yes, the stock transfer of promotion materials and/or free samples will be subject to GST, and supply of those promotions materials/free samples to the retailers who stock your product, or end customers, will also be subject to GST.
What is Goods and Service Tax Identification Number(GSTIN)?
Goods and Services Tax Identification Number (GSTIN) is a 15 digits state-wise PAN-based number to be used to identify businesses registered under GST.
Do i need PAN to apply for GST registration?
Yes, PAN is mandatory to apply for GST registration.
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Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
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