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GST REG 1

Goods and Services Tax is an indirect tax used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.

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GST REG 1

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  1. Registration (part-1) Name – Johnson Baghla Roll no – 2366210006 Class – B.com (CAV) 3 year

  2. Contents • Registration • Why? • Advantages/ benefits of registration • Features of registration

  3. Registration • In any tax system, registration is negligence requirement which provides identity to the tax payers. • Identity of the tax payer make everything easy. • Compulsory requirement • In simple words, registration under GST means - Obtaining a unique identity number from recognized by authorities.

  4. Why ? • Why Registration? • Why to get it? • Why not using the name of taxpayer ?

  5. Advantage / Benefit of registration • Recognition as legal supplier. • To collect tax. • To pass credit to his buyer.

  6. Advantages /benefits • To claim Input Tax Credit (ITC). • Straight flow of ITC at national level. Registered person Registered person Registered person Unregistered person ITC CHAIN BREAK

  7. Features or Essentials of registration • Registration is PAN based U/Sec 25(6) & Sec 25(7) Except • NRTP(non resident taxable person) • For persons who are registered to DTS. 2. State wise or UT wise U/Sec 25(2) • One registration- one state . • Separate registration for multiple place of business within state or UT.

  8. 2.One registration per state

  9. Seperate registration-multiple place of business within state /UT 1. Branch in multiple states 2. Branch in same state

  10. Features of registration #3. More than one registration. #4. GSTIN. Format of GSTIN 12 ADTBHKOPLM 2M 5 STATECODE CHECK SUM PAN Entity CODE

  11. FEATURES #5. Effective date of registration. #6. Validity of registration. #7. UIN[sec25(9) & (10]. #8. suo-motu registration by proper officer [sec- 25(8)].

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