Good and services also known as GST is a tax on services and goods. The main objective of GST is to integrate the market into a single one. The state markets are integrated into a single national market with the help of GST. There are two types of GST. First is the one imposed by the state that is known as State goods and services tax or SGST. The other one is the one imposed by the centre it is known as the Central goods and services tax or CGST. The tax paid under SGST goes into the treasuries of the state government while the tax paid under the CGST goes to the central treasuries. Certain government organizations are exempted from the goods and services tax. These include health services, educational services provided by the government colleges and schools, police, intelligence, paramilitary and other government departments. |
Food articles which are supplied through a public distribution system in their unprocessed state are exempted from goods and services tax. Service tax registration is a very simple procedure. For service tax registration one has to visit the website of the central board of excise and customs and follow the steps for registration. SIN goods like tobacco and emission fuels also attract GST. The GST imposed on these items is a major source of revenue for the state and central governments. The role of border check posts in the collection of GST has been very important. It has been recommended that both the states sharing the boundary must have check posts at the same place to increase efficiency in the movement of goods on the roads.
Company registration India is very essential for a company to get recognized and submit taxes. For the purpose of company registration India, Registrars Of Companies have been appointed by the government of India in various States and union territories. They deal with the registration of new companies, name change of existing companies, and transformation of companies from a private company to a public company and vice versa. A company registration number is provides to the companies who have successfully registered. The companies use this company registration number for company’s business, taxpaying purposes, and a range of other purposes. Certain taxes are subsumed under CGST. These are service tax, central excise duty, and customs duty. The taxes which come under the SGST are entertainment tax; value added tax, octroi tax, and a range of other taxes like luxury taxes, lottery tax. Services and goods produced in Special Economic Zones (SEZ’s) are exempted from the GST.
Partnership firm registration is controlled by the Indian partnership act of 1932. Section 58 under this act provides that the firm can be registered by submitting an application before the registrar of the firms. For partnership firm registration, the application must contain information about the partners of the firm. stpi registration requires the payment of certain charges on an annual basis. Software technology parks of India provide special incentives for the growth of IT industry. stpi registration is a must to set up software units in software technology parks of India.
Amit sing expert writer in company registration india and other corporate law services provide details about service tax registration, company incorporation, fcra and company registration number for your business or organization.
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