Taxmill Consulting Service Private Limited

GST Registration in 7 business days. The procedure for Online GST Registration requires no manual intervention. GST Registration is a tedious 11 step process that involves the submission of many business details and scanned documents. While obtaining GST Registration on your own is not a mandatory process, you can save an enormous amount of time and effort if you use an online GST registration system.

Every product goes through multiple stages withal the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the final sale to the consumer. Interestingly, Online GST Registration will be levied on all of these 3 stages. Let’s say if a product is produced in West Bengal but is stuff consumed in Uttar Pradesh, the unsharpened revenue will go to Uttar Pradesh.
GST will have 3 tax components, which includes a inside component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where Centre and state will levy GST on all entities, i.e. when a transaction happens within a state. Inter-state transactions will vamp the Integrated Goods and Services Tax (IGST), to be levied by the center, i.e. when a transaction happens one state to another.
The government has made it necessary for individuals and companies who earn a specific amount of annual revenue must file an ITR (INCOME TAX RETURN) (Income Tax Return) file within a pre-decided due date. The tax calculated must be rendered by the company or individual. In case of failure to pay ITR (INCOME TAX RETURN) will cause retribution to the company or individual from the tax department.
Typical publications of the internal and external audit reports are made in the annual report of the organization. The report of the auditor is relevant because banks and borrowers need a financial statement audit in advance of lending to a corporation.