GST Fresh Registration from 25th June 2017

The fresh registration window for GST no is going to start from 25th June 2017 for all those who do not have existing Service tax no, vat no or excise no can now directly apply for fresh GST no from 25th onwards.

The following are the documents required for fresh enrolment for GST:

In case of Individual:

1) PAN card

2) ID proof and address proof of Individual

3) Photo (JPG – 100 KB)

4) Bank Details – Copy of cancelled cheque or first page of Pass Book (JPG, PDF – 100 KB) or first page of recent bank statement (JPG, PDF – 500 KB)

5) Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc.(JPG, PDF – 100 KB) , also in case the premises is rented, Rent agreement (JPG, PDF – 200 KB) will be required.

In case One Person Company/ Private Limited Company/ Public Company:

Documents of Company:

1) Company PAN card

2) Memorandum of Association (MOA) /Articles of Association (AOA) (JPG, PDF – 1 MB)

3) Registration Certificate/ Incorporation Certificate of the company(JPG, PDF – 1 MB)

4) Bank Details – Copy of cancelled cheque or first page of Pass Book (JPG, PDF – 100 KB) or first page of recent bank statement (JPG, PDF – 500 KB)

5) Copy of resolution passed by BOD / Managing Committee. (JPG, PDF – 100 KB)

6) Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc.(JPG, PDF – 100 KB), also in case the premises is rented, Rent agreement (JPG, PDF – 200 KB) will be required.

7) Director related Documents- PAN and ID proof of directors& Photo (JPG – 100 KB)

8) Proof of Authorized Signatory (PDF, JPEG – 1MB)

9) DIN No of Partners & Digital Signature

Incase of Partnership & Limited Liability Partnership (LLP)

Documents of Partnership & LLP:

1) Partnership / LLP PAN Card (as the case may be)

2) Partnership Deed/ LLP Agreement

3) DIN No of Partners & Digital Signature (in case of LLP)

4) Bank Details – Copy of cancelled cheque or first page of Pass Book (JPG, PDF – 100 KB) or first page of recent bank statement (JPG, PDF – 500 KB)

5) Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc. (JPG, PDF – 100 KB), also in case the premises is rented, Rent agreement (JPG, PDF – 200 KB) will be required.

6) Partner’s related Documents- PAN and ID proof of designated partners& Photo (JPG – 100 KB)

7) Proof of Authorized Signatory (PDF Or JPEG – 1MB)

Further in case of principle place of business if the premises is owned than any document in support of the ownership of the premises like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill. If the said premises is rented/ leased a copy of the valid Rent / Lease Agreement with any document in support of the ownership of the premises of the Lessor like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill. If the premises is neither owned nor rented than consent letter (JPG, PDF – 100 KB) would be required with any supporting document of the premises.

About Nitika Bansal 120 Articles
I will regularly provide update on direct tax and indirect tax

FAQS

RBI updates on Demonitisation

1. Why was the Scheme of Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500 and ₹ 1000 introduced?

(more…)

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 6

‘Ind AS Transition Facilitation Group’ (ITFG) of Ind AS (IFRS) Implementation Committee
has been constituted for providing clarifications on timely basis on various issues related to
the applicability and/or implementation of Ind AS under the Companies (Indian Accounting
Standards) Rules, 2015, raised by preparers, users and other stakeholders.
Ind AS Transition Facilitation Group (ITFG) considered some issues received from members
and decided to issue following clarifications on November 29, 2016:
Issue 1
A debt-listed company has net worth for the last 3 years as follows: (more…)

Frequently Asked Questions (FAQs) on Withdrawal of Legal Tender Character of the Old High Denomination Bank Notes

RESERVE BANK OF INDIA
(from m.rbi.org.in)
Frequently Asked Questions

Frequently Asked Questions (FAQs) on Withdrawal of Legal Tender Character of the Old High Denomination Bank Notes

1. Why is this scheme?

(more…)

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 5

At the 5th meeting of Ind AS Transition Facilitation Group (ITFG) held on September 19, 2016 at Mumbai, certain issues received from members were discussed. The Group after due deliberations decided to issue following clarifications1 on the issues considered at the meeting:

Issue 1

ABC Ltd. is a listed company. The net worth of ABC Ltd. as on 31st March 2014 was Rs. 200 crores. ABC Ltd. had a subsidiary, namely, XYZ Ltd. as at 31st March, 2015 whose net worth, consisting only of share capital as at that date, was Rs. 600 crores. XYZ Ltd. was incorporated in January, 2015. It was incorporated only for the purposes of its divestment. The financial statements of XYZ Ltd. were not consolidated with that of ABC Ltd. as at 31st March, 2015 in view of requirements of paragraph 11 of Accounting Standard (AS) 21, Consolidated Financial Statements.

ABC Ltd. entered into agreement with a proposed acquirer of the subsidiary, i.e., PQR Ltd., in September, 2015. The entire ownership of XYZ Ltd. was finally transferred to the said acquirer in the first fortnight of April, 2016.

In the given case, whether the ABC Ltd. is required to comply with Ind AS from the financial year 2016-17? (more…)

FAQs on Place of Supply of Goods and Service under GST

Q 1. What is the need for the Place of Supply of Goods and Services under GST?

Ans. The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. So place of supply provision determine the place i.e. taxable jurisdiction where the tax should reach. The place of supply determines whether a transaction is intra-state or inter-state. In other words, the place of Supply of Goods is required to determine whether a supply is subject to SGST plus CGSTin a given State or else would attract IGST if it is an inter-state supply. (more…)

FAQs on Transitional Provisions under Goods and Service Tax

Q 1. Will the CENVAT/ITC carried forward in the last return prior to GST under earlier law be available as ITC under GST?

Ans. Yes, the registered taxable person shall be entitled to such credit and it will get credited to his electronic credit ledger – section 143. (more…)

Queries