Goods & Service Tax is a new taxation system in India which came into effect from July 1, 2017. GST has replaced many Indirect Taxes in India. GST is the sole indirect tax for the entire country which is based on consumption of goods and services.
The rules and regulations, tax rates are governed by the Goods and Service Tax Council which consists of the finance ministers of Centre and all the states. Goods & Service Tax rates vary from 0% - 28% depending on the type of service or Nature of Goods Your business is selling.
The new GST registration process in India should be followed for GST registration procedure. The help of professionals can be taken for GST services.
A person should apply for GST registration within 30days from the date on which he becomes liable to get the registration and pay the tax under the regime.
GST Registration certificate is granted for the lifetime of the business unless it is canceled, suspended, revoked or surrendered.
For Surrender of GST Registration you have to make an application with GST Department, note that all dues or liabilities shall be clear.
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