GST- Goods and Services Tax was launched in India on July 1, 2017, and it applies to all types of service providers, traders, and manufacturers. GST is a unified tax that has replaced a variety of Central and State taxes, such as Service Tax, Excise Duty, CST, Entertainment Tax, Luxury Tax, and VAT, among others. GST is to be charged at every step of the supply chain, with full set-off benefits available. The process for GST is entirely online and requires no manual interference.
At Regilances, we help businesses register for GST Registration Services in Bhubaneswar , Odisha as well as file GST returns on a regular basis. Our expert team takes full responsibility and ensures that all types of GST filing are done on time.
If you are buying or selling goods or providing services then it is mandatory to register for GST online. Companies who have turnover more than Rs.20 lakhs (for supply of services) and Rs.40 lakhs (for supply of goods) yearly are required to register for GST. E-commerce sellers/aggregators need not register if total sales are less than Rs.20 lakhs, according to the recent notification.
Here are the documents required for GST registration:
GST tax rates vary depending on the category of goods or services. Basic necessities, such as essential food items, are exempt from GST. Household necessities and life-saving drugs are taxed at 5%, while products like computers and processed food are taxed at 12%. Items such as hair oil, toothpaste, soaps, capital goods, industrial intermediaries, and services are taxed at 18%, while luxury items are taxed at 28%.