Goods and service Tax in India

1. Goods & Service Tax ​ A unified tax system transforming India’s indirect taxation landscape.

2. Index • What is GST? • GST Applicability • Eligibility for GST Registration • Documentation for GST Registration • GST Registration Process • GST Refund & Service • GST Advisory Service • About Mercurius • How can Mercurius help you

3. What is GST? The Goods and Services Tax (GST) is a major indirect tax reform in India. Launched on July 1, 2017, it unified various older taxes like: VAT Excise duty Service tax GST created one single tax system for all goods and services across India. It removed the cascading effect of multiple taxes, simplifying business operations. GST rates vary from 5% to 28%,depending on the type of product or service. Classification is done using HSN codes (for goods) and SAC codes (for services). Businesses can file returns based on size and convenience: Monthly, Quarterly, or annually. ​

4. GST Applicability GST is charged based on different tax slabs—5%, 12%, 18%, and 28%—depending on the type of goods or services your business offers. Knowing which slab applies to you is key to staying compliant and avoiding penalties. Our GST experts can help you figure out the right category for your offerings and guide you with the best tax solutions tailored to your business. GST Registration Based on Turnover: For Goods: Must register if annual turnover exceeds ₹40 lakhs (₹20 lakhs in special category states). For Services: The Threshold is ₹20 lakhs (₹10 lakhs in special category states). Exceptions: Certain businesses, such as those involved in some agriculture-related activities and religious bodies, may be exempt, even if they exceed the limit.

5. … Interstate SupplyIf you're supplying goods or services across state lines, GST registration is mandatory—no matter how small your turnover is. Specific Business TypesSome businesses are required to register regardless of turnover—like e-commerce platforms, casual taxable persons, or those responsible for TDS/TCS under GST. Voluntary RegistrationMany businesses opt to register for GST voluntarily to claim input tax credit, build business credibility, apply for government tenders, or simply stay ahead if they expect to cross the turnover threshold soon.

6. Eligibility for GST Registration Under the GST law, Limited Liability Partnerships (LLPs) are required to register for GST if their annual turnover exceeds ₹40 lakhs.However, in special-category states, the threshold remains lower—₹20 lakhs. This updated limit has been in effect since April 1, 2019. ​

7. Documentation Required for GST Registration PAN card of the business or applicant Aadhaar card Photograph of the applicant Address proof of the principal place of business (like electricity bill, rent agreement, or NOC) Bank account details (canceled check or bank statement) Digital Signature (in case of companies and LLPs)Note: The list above includes commonly required documents. The exact documentation may vary depending on the type of business structure (proprietorship, partnership, company, etc.). To know the specific requirements for your setup, please contact us. Mercuriusteam.com

8. GST Registration Process 1. Understanding Your Business NeedsWe assess if your business needs GST registration, identify applicable tax rates, and confirm your main and branch locations.2. Preparing the Right DocumentsWe help gather and verify all the required documents for a hassle-free registration.3. Seamless GST RegistrationOur team handles the full online process—from applying on the GST portal to responding to any tax authority queries.4. Updating as You GrowWe manage all necessary amendments to keep your GST records current.5. Support for Cancellations or SuspensionsIf your GSTIN is canceled or suspended, we will assist with restoration and represent you when needed.

9. GST Refund & Services Businesses in India can claim a refund for excess GST paid. If you've paid more than required, you may be eligible to get it back. Our GST Refund Services Expert review of your refund eligibility Simple and accurate documentation Support in dealing with tax authorities Regular updates throughout the process Types of GST Refunds Inverted Duty Structure Refund of Excess tax payment Refund of Input tax credit (ITC) Other Eligible Refunds

10. GST Advisory Service ​ • Optimize your tax position with the right guidance. Our GST experts help you stay compliant and efficient under the GST regime. Optimize Your Tax Positions with Our Expert Guidance. • GST Impact Assessment • GST Registration Assistance • Compliance System Setup • GST Return Filing Support • Record Maintenance • ITC Optimization • ITC Reconciliations

11. About Mercurius Mercurius is a broad-based professional services firm with clientele in 60+ countries, assisting foreign companies with the easy setup and functioning of their businesses in India. With a thorough knowledge of Indian regulatory structures as well as international expectations, we specialize in: Company incorporation and structuring Regulatory and tax compliance Nominee directors and local representation solutions Ongoing advisory and post-incorporation support We are trusted for our reliability, confidentiality, and dedication to simplifying entry into India.

12. How Can Mercurius Help You? 01 Tailored Approach 02 Unmatched Client Support 03 CostEffectiveness 04 15+ yrs Cross Border Experience

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