Sandeep Ahuja & Co.

Established in the year 1986, we are a leading chartered accountancy firm based in Delhi & NCR rendering comprehensive professional services which include statutory audit, internal audit, direct tax, transfer pricing, GST, bank audit, propriety audit, cost accounting, internal financial controls and risk advisory.

Tuesday, November 8, 2016

GST Registration for Existing VAT Dealers started today i.e 08.11.2016

Registration process of GST has commenced today. Good Start is half done and now we can expect the GST from 01.04.2017. To welcome GST and be prepared for the same, we should start GST registration. At the very first stage it has been commenced through dealers registered under VAT.
1.   GST Registration started today on 8.11.2016 at www.gst.gov.in.
 Assesses with a valid PAN shall be allowed to fill details & submit proofs.

2.   All the taxpayers registered under any of the indirect taxes as specified are expected to visit the GST Portal and register themselves.

3.   Before registration with GST System Portal, Ensure to have the following information/ documents available:-
Ø  Provisional ID & Password received from State/Central Authorities
Ø  Procedure for receiving Provisional ID & Password:
For Dealers registered under VAT: All registered Dealers under VAT or their Authorized Representatives should visit their respective Ward offices between 09/11/2016 to 11/11/2016 and collect sealed envelope containing their provisional ID and Password for use in completing online pre-registration under GST.
Ø  After receiving the Provisional ID & Password, the dealer shall keep ready the following details:
a.    Valid E-mail ID.
b.    Valid Mobile Number
c.    Bank Account Number
d.    Bank IFSC

4.   Following Documents are required to be uploaded at the time of registration under GST @ www.gst.gov.in.

e.    In case of Partnership firm: Partnership Deed (PDF and JPEG format; Maximum size : 1 MB)
  1. In case of Others: Registration Certificate of the Business Entity (PDF and JPEG format ; Maximum size : 1 MB)
  2. Photographs: of Promoters of the Company/ Partners/Karta of HUF (JPEG format ; Maximum size : 100 KB)
  3. Proof of Appointment of Authorized Signatory (PDF and JPEG format ; Maximum size : 1 MB)
  4. Photograph of Authorized Signatory (JPEG format ;Maximum size : 100 KB)
  5. Opening page of Bank Passbook / Statement containing:
                 (i).        Bank Account Number,
               (ii).        Address of Branch,
              (iii).        Address of Account holder and
              (iv).        Few transaction details (PDF and JPEG format ; Maximum Size : 1 MB)

5.    Procedure for enrollment of existing VAT Dealers on the GST                   System Portal:

Apart from abovementioned required documents, following process need to be followed by VAT dealers for registration under GST Regime.
a.    Visit Website "goacomtax.in": Dealer has to visit "goacomtax.gov.in" Portal and click on the Link “Provisional Registration for GSTIN” and follow instructions by using provisional ID and Password Collected from Ward Office.

b.    To be Completed Till 29th November 2016: The online provisional registration on GST System Portal should be completed by all existing Dealers between 14/11/2016 to 29/11/2016.

c.    Save & Continue: For completing provisional registration, the Dealer needs to save every page after filling all the details by clicking on “Save and Continue” button at the bottom of each Page.

d.    Helpdesk at Respective Ward Offices: In case of any difficulties faced in completing online provisional registration, please contact Helpdesk at respective Ward Offices.

6.  Technology Platform for GST-GSTN.

As we know that a SPV was formed by previous Govt. called GSTN which is responsible for all IT related tasks and procedures under GST. This is one of the largest IT network in the history of Indian taxation system which will process 50000 entries per second and 3 billion vouchers per month.
DRAFT INVOICE FORMATS UNDER GOODS AND SERVICES TAX
Government of India/State Department of………………
Form GST INV – 1 (See Rule……………. -)
Application for Electronic Reference Number of an Invoice
1.   GSTIN
2.   Name
3.   Address
4.   Serial No. of Invoice
5.   Date of Invoice
Details of Consignee (Shipped to)
Name         Address     State
xxxx            xxxx            xxxx
State Code:
GSTIN/Unique ID:
Sr
No
Description of Goods
HSN
Qty.
Unit
Rate
per unit
Total
Discount
Taxable
Value
CGST
S SGST
IGST
Rate
 Amt.
  Rate
Amt
Rate
Amt


Freight
Insurance
Packing and Forwarding Charges
Total

    Total Invoice Value (In figure) Total Invoice Value (In Words)

    Amount of Tax subject to Reverse Charges

     Declaration:
   Signatory
Signature
Name of the Signatory
Designation / Status

  

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