GST Registration in Coimbatore

Solubilis is the go-to GST registration partner in India, simplifying complex registrations and filings swiftly. Our GST consultants ensure seamless GST registration in Coimbatore within minutes. GST, initiated in July 2017, applies to all Indian service providers, traders, and manufacturers, including freelancers. It consolidates various tax mechanisms, such as Service Tax, Excise Duty, CST, and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT, into a unified GST framework.

Operated online, the online GST registration in Coimbatore requires no external intervention. Throughout the supply chain stages—purchase, manufacturing, sales, and consumer transactions—GST rates are applicable. However, businesses with turnovers under Rs. 1.5 crore can opt for composition schemes, simplifying GST procedures and paying a fixed turnover rate.

Choose Solubilis for your GST Registration and unlock tax benefits. Our services extend across Ondipudur, Peelamedu, Udayampalayam, Somanur, and all of Coimbatore. Experience hassle-free compliance and enjoy the advantages of GST with Solubilis.

Income Tax

Every year, individuals and companies must pay Income Tax within specified deadlines, as mandated by the Income Tax Act for the relevant financial year.

This tax is levied on the income generated by both entities.

Filing an annual income tax return is mandatory, and payment is essential, as these taxes serve as a crucial revenue source for the government.

The government utilizes these funds to provide public services and meet its obligations.

Solubilis facilitates the online filing of income tax returns for both individuals and companies, ensuring a seamless and efficient process.

GST
Income Tax

Documents required for GST Registration

Documents needed for GST Registration in Coimbatore vary based on the business structure:

Private limited Companies

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.

Ensure you have these documents in order for a smooth Online GST registration in Coimbatore process.

Benefits of GST Registration

Online GST registration in Coimbatore, can give you following benefits.

GST eliminates 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
Under GST we can regulate sectors which is Unorganized

Documents Required

1. Bank Statements: Include statements from all individual accounts.
2. Investment Details: Gather investment specifics for eligible deductions (e.g., 80C, 80CCC, 80 CCD, 80 CCG, 80D, 80 DD, 80 DDB, 80E, 80 G, 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

Follow these guidelines for a smooth income tax filing process in Coimbatore.

FAQ'S

Income Tax

Individuals and non-audit cases have a deadline on July 31 of the assessment year. Audit cases must be completed by September 30.

Filing a return after the due dates is allowed, but late filing incurs penalties. Ensure timely filing to avoid penalty charges.

Submit a request letter to the Assessing Officer after settling pending tax dues for the specific financial year.

Prove your income with ITR.

Claim refunds easily.

Access loans confidently.

Secure credit cards effortlessly.

ITR is mandatory for VISA

You can carry forward losses with ease.

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

The Tax Deduction and Collection Account Number (TAN) is a unique identifier necessary for individuals responsible for deducting or collecting taxes. It is mandatory for tax compliance.

Income Tax Act's Section 44AB addresses Tax Audits, mandatory for those with audited accounts by a Chartered Accountant. The CA performs the tax audit, providing findings in Form Nos. 3CA/3CB and 3CD, detailing observations. Compliance with this section is crucial for businesses undergoing audits to ensure tax regulations are met.

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

This proactive approach ensures timely contributions and helps individuals and businesses manage their tax responsibilities effectively, avoiding last-minute financial burdens and promoting fiscal responsibility throughout the year.

No. Agriculture income is not taxable.

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

GST

A destination-based tax on goods and services, applicable from manufacturing to the end consumer. Credits for taxes paid at earlier stages are available as input credits, making the system comprehensive and efficient.

Both Central GST and State GST are imposed concurrently on every transaction involving the supply of goods and services, excluding exempted items and entities below the specified threshold. For instance, with an 18% GST rate, SGST is 9%, and CGST is 9%.

For interstate trade, the GST on the supply of goods and services is administered by the Central Government as IGST. For instance, with an 18% GST rate for traded goods, the IGST applicable would be 18%.

Companies must register for GST if their annual turnover exceeds Rs. 40 lakhs (Rs. 20 lakhs for services). Additionally, even if the turnover is below the threshold, mandatory registration is required for interstate sale of goods. Stay compliant with GST regulations to ensure smooth business operations.

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

Buyers from a registered person under the composition scheme are ineligible for composition input tax credit. This is because suppliers in the composition scheme cannot issue a tax invoice.

Goods and services imports are treated as inter-state supplies, attracting IGST. Full offset is granted for GST paid on imported goods and services, ensuring a fair and transparent system for businesses engaged in international trade.

Exports are considered zero-rated, meaning no tax is payable on exported goods or services. However, exporters can claim input tax credit and seek refunds. Exporters have the flexibility to either pay tax on output and claim IGST refund or opt for a bond-based export without IGST payment, subsequently claiming Input Tax Credit refunds. This provides exporters with choices to optimize their tax processes and facilitate smoother international trade.

In certain supply categories, the responsibility to pay tax rests with the recipient of goods or services, not the supplier. This shift in liability streamlines tax procedures for specified transactions.

When a registered individual acquires goods or services from an unregistered entity, they are responsible for paying the tax through the reverse charge mechanism. This simplifies taxation for such transactions.