GST registration in Ottapalam
The Goods and Services Tax (GST) in India has resulted in major tax changes. Since its introduction in 2017, it has had the potential to eliminate the ‘tax on tax’, or the lessening impact of taxes. GST is collected at each location as an item moves through its retail network. This article will go over who should manage GST registration in Ottapalam as well as the necessary documentation.
What Is the Threshold Limit for GST Registration in Ottapalam?
The initial threshold for taxpayers to register for GST was Rs 20 lakhs in annual revenue. During the 32nd GST Council Meeting in January 2019, states were given the option of adopting new thresholds or sticking with the current ones.
Who Should Register for GST in Ottapalam?
Individuals/businesses registered under tax services of the pre-GST regime (VAT, Excise, Service Tax, etc.)
⦁ Persons needed to deduct TDS and TCS under GST
⦁ Inter-state suppliers of goods & services
⦁ A person/business that supplies online information, database access, and/or retrieval services from outside the country to a person/business in India
⦁ Non-Resident taxable persons
⦁ All e-commerce aggregators who facilitate supply through their platform
⦁ A person/business that supplies items through an e-commerce aggregator
⦁ Persons selling on behalf of someone else, either as the principal or as an agent
⦁ Input service distributors
⦁ Any other person/business as notified by the Central/State Govt
⦁ Casual taxable persons
What Are the Documents Required for GST Registration in Ottapalam?
⦁ PAN card of the applicant
⦁ Proof of business address (anyone from electricity bill, owner NOC, rent/lease agreement, and so on)
⦁ Identity and address proof for each of the promoters/directors, along with photographs
⦁ Bank details (bank statement, the first page of bank passbook, a canceled cheque of the bank account bearing the name of the account holder)
⦁ Authorization details (anyone from letter of authorization, copy of the resolution passed by the managing committee/BoD specifying the authorized signatory)
⦁ Proof of business constitution (partnership deed, registration certificate, Memorandum of Association (MOA), certificate of incorporation, Articles of Association (AOA), and so on)
How to Keep track of Your GST Registration After Applying Online?
After completing your GST registration online, you can track the status of your registration from any location. Here is how you can check the status of your GST registration:
- After submitting the online application, a notification verifying successful submission will appear on the screen.
- An Application Reference Number (ARN) will be provided to your registered email address and mobile phone number.
- You can use this ARN to verify the GST registration status on the GST portal.
- After submitting essential paperwork, you will obtain your permanent GST number within 7 days.
- This number (also known as the GSTIN or GST Identification Number) must appear on all invoices you file or receive.
What Is the GST State Code Used in Ottapalam?
Each state in India is assigned a two-digit number by the GST state code. This code helps in determining the location of a business organization or taxpayer. The first two digits of a GSTIN represent the GST state code. Furthermore, every GST invoice for Ottapalam or Kerala-based businesses must include the GST state code.
According to the list of GST state codes, Ottapalam’s GST state code is 32. Kerala’s GST state code is represented by the first two digits (32) of the GSTIN 32AGBCU4578R1DW. The GST state code for the firm’s location in Ottapalam. In Ottapalam, no business can operate without a state GST code.
Ottapalam’s GST state code can be found in the purchaser’s GSTIN, which is included in a GST invoice’s ‘Place of Supply’ section. The GST state code assists the government in determining whether IGST, SGST, or CGST should be levied on a taxpayer or a business element. If the buyer’s and provider’s state codes differ, IGST will be levied. If these two codes are substantially close, both the SGST and the CGST will be levied.
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