An overview of GST registration
GST stands for Goods and Service Tax. GST Council is formed under section 279A of the constitution of India. The law was brought in 01 July 2017 by removing all the other Indirect Taxes such as VAT, Sales Tax and Entertainment Tax in the country. GST applies to all form of products and services which are produced and manufactured in India.
Component of GST
CGST (Central Goods and Service Tax) – Amount of tax charged on interstate supply of different types of services or products. This is usually charged by Central Government. Revenue is shared by equally between State Government and Central Government.
SGST (State Goods and Service Tax) – This amount of tax is charged on Intrastate supply of goods and services. State government charges this Tax.
IGST (Integrated Goods and service tax) – This amount of tax is charged on Intrastate supply of goods and services. State government and Central Government shared the revenue of this Tax.
GST rates for goods
Requirement of GST Registration
Benefits of GST Registration
Documents required for Registration