GST Consultants in Bangalore | GST Registration Consultants in Bangalore

GST Registration in Bangalore

To enjoy the benefits of taxation, get GST Registration with Solubilis Corporate Services. We provide best service in Bangalore and offer our service over Silk board, Yeshwanthpur, Bommanahalli, Hosur, Electronic city and KR puram. To avoid the complications of registering and filing the GST, Solubilis stands as a foremost pioneer in providing solutions. GST is applicable for all Indian traders and manufacturers including freelancers. The service of GST is an online based, so there is no other mediation required. Before the launch of GST, different types of taxes existed like service tax, luxury tax, entertainment tax, etc. Now, the combination of all taxes is known as GST (goods & service tax).

Every product faces multiple stages of the supply chain. It includes purchasing, manufacturing, sales, and finally sold to the consumer. In all these instant, the person has to charge GST Rate. But if the person has the turnover of less than Rs.1.5 cores, then they can choose composition schemes to get rid of tedious GST formalities and can pay GST at a fixed rate of turnover.

Income Tax

The Individuals and Companies are required to pay Income tax every year with in the due dates. The governments impose the tax on income generated by the individuals and companies as per the income tax Act for the particular financial year. The companies and Individuals must file income tax return every year and pay the tax because income tax is the source of revenue to the government and these revenues are used by the government for public services and pay government obligations. Solubilis helps individuals and companies to file their income tax returns via online portal.

GST
Income Tax

Documents required for GST Registration

Private limited

Certificate of incorporation
Board resolution
Electricity bill and property tax receipt of premises
Rental agreement if taken on rent, NOC form owner if he/she belongs to the family
Photo of all the directors.
Pan and aadhar copy of directors.
Mail id of all directors
Contact no of all directors
Ward no of the address premises.

Partnership

Authorization letter
Copy of Partnership deed
Partners photo
Copy of PAN and aadhar of all partners.
Mail id of all directors
Contact no of all directors
Electricity bill and property tax receipt of premises
If the property is belong to one of the partner, he has to give NOC or rental agreement
Ward no of the address premises

Proprietorship

Copy of PAN of proprietor
Copy of Aadhar of proprietor.
Copy of passport size photo of proprietor.
If the property is belong to one of the partner, he has to give NOC or rental agreement
If owned, electricity bill and property tax receipt of premises
Ward no of the address premises.

LLP

Certificate of incorporation
Authorization letter
Electricity bill and property tax receipt of premises
Rental agreement if taken on rent, NOC form owner if he/she belongs to the family
Photo of all the Partners.
Pan and aadhar copy of Partners.
Mail id of all Partners
Contact no of all Partners
Pratnership Deed
Ward no of the address premises.

OPC

Certificate of incorporation
Board resolution
Electricity bill and property tax receipt of premises
Rental agreement if taken on rent, NOC form owner if he/she belongs to the family
Photo of the director.
Pan and aadhar copy of director.
Mail id of the director
Contact no of director
Ward no of the address premises.

Benefits of GST Registration

GST removes the cascading effect of tax
Higher threshold for registration
Composition scheme for small businesses
Simple and easy online procedure
The number of compliances is lesser
Defined treatment for E-commerce operators
Improved efficiency of logistics
Unorganized sectors will be regulated under the GST.
It reduces corruption and sales without receipt.
It eliminates border taxes and resolves in check posts
Small companies can comply with exercise, service tax and VAT.

Documents Required

1. Individual Bank Statement. ( All the accounts )
2. Investment details ( For Eligible Deductions ) (80C, 80CCC, 80CCD, 80CCG, 80D, 80DD, 80DDB,80E, 80G,80GG, 80GGC, 80TTA, 80TTB, 80U )
3. Aadhaar Card Copy and Pan Card Copy.
4. Source of Income

Declare - Salary Income
Declare - Rent Income ( Own or Joined House Property )
Declare - Income from Business or Profession ( Profit sharing or Salary from the Firm or Company )
Declare - Capital Gain ( Any property or Shares or Mutual funds or PF etc, sold )
Declare - Any income from other sources

5. Kindly provide the eligible deductions expenses,

LIC Policy premium payment
Rent paid
School Fees for children
Housing Loan ( Provide the split up - Interest part and Principle part )
Donations paid
Health insurance premium Paid

FAQ'S

Income Tax

For Individuals and Non Audit Case - 31st July of the assessment year. For Audit Cases - 31st September of the assessment year.

A return can be filed after the due dates. Penalty will be charged if the return is filed after the due dates.

Request letter to be submitted to the Assessing Officer after making the pending tax dues for the particular financial year.

You can show ITR as your proof of income.

You can claim the refund.

You can avail the loans

You can avail the Credit Cards.

ITR is mandatory for VISA

You can carry forward your losses.

You can check the refund status in the below link - https://tin.tin.nsdl.com/oltas/refund-status-pan.html

Tax Deduction and Collection Account Number is a unique number required to be registered by all persons who are responsible to deduct or collect the tax.

Section 44AB of the income tax act deals with Tax Audit. Tax audit is required for those who get their accounts audited from a chartered accountant. The CA conduct the tax audit and will give his findings, observation, etc., in Form Nos. 3CA/3CB and 3CD.

Advance tax means making the tax in advance instead of lump sum payment at end of the financial year.

Advance Tax instalment are below, (To be calculated based on the Expected liability)

 15 % on the Expected liability – On or before 15th June
45 % on the Expected liability – On or before 15th September
75 % on the Expected liability – On or before 15th December
100 % on the Expected liability – On or before 15th March

No. Agriculture income is not taxable.

Yes. You have to maintain the proofs for your every sources of income.

GST

It is a destination based tax on goods and services. It is levied at all stages starting from manufacture up to end consumer with credit of taxes paid at earlier stage available as Input credit.

The central GST and State GST is levied simultaneously on each transaction of Supply of goods and supply of services except for exempted good and services and entities below the prescribed threshold limit. Example if rate of GST is 18% - SGST is 9% CGST is 9%.

The GST on supply of Goods and Services in the case of inter- State trade shall be imposed and collected by Central Government that is IGST. Example if rate of GST is 18% for the goods in trade – IGST – 18%.

Companies involved in supply of goods with annual turnover of more than Rs.40 and Rs 20 lakhs in case of services are required to register GST mandatorily. In addition to the turnover, if there is Interstate sale of goods its mandatory to register GST irrespective of the turnover

No, Person registered under composition scheme is not eligible to claim input tax credit.

No, customer who buys goods from registered person who is under composition scheme is not eligible for composition input tax credit because composition scheme supplier cannot issue a tax invoice.

Imports of Goods and Services will be considered as inter-state supply IGST will be levied on import of goods and services. Complete set-off will be available on the GST paid on import on goods and services.

Exports have treated as zero rated. No tax will be payable on exports of goods or services, But input tax credit will be available and the exporter can get refund. The Exporters are insist as an option to either pay tax on the output and claim refund of IGST or export under Bond without payment of IGST and claim refund of Input Tax Credit.

It means the liability to pay tax is on the recipient of goods and services instead of the supplier of goods or services in respect of specific categories of supply.

In case of receipt of supply from an unregistered entity, the registered person who is receiving goods or services shall be liable to pay tax under reverse charge mechanism.