GST: When Does Service Provider Need To Register Across Multiple States ?

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If you’re a service supplier with operations in just one state, GST goes to be wonderful as a result of while not an excessive amount of of compliance burden, you tend to induce additional input-tax credits. But, if you’re a service supplier in additional than one state, and that i believe, the bulk would have operations in multiple states; therein case it might be vastly completely different below GST.

Service suppliers currently need to grapple with a very new set of facts. Several of them are progressing to be assessed in many states, many of them would need to acquire company registration in new states, that they’re not at home with.

However, there has been abundant confusion once it involves registration in numerous states and once will a service supplier get to check up on a multi-state company registration in India. To form things terribly clear, simply as a result of you offer services during a specific state, you’re not needed to register therein state. That’s not needed in the slightest degree. it’s only you’ve got operations during a specific, that may be a place of business or workplace that you simply need to register therein state.

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Government Notifies Rules For Registered Valuers

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Individuals, partnership entities as well as companies can act as valuers under the Companies Act after getting registered with an authority specified by the government, says a notification.

The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers in company registration in India.

“The valuers, who may be individuals or partnership entities or companies, would be required to be registered with the authority specified by the central government. “The rules provide for registration of different category of valuers and lay down the requirements on their eligibility, qualifications and experience,” an official release said today. company incorporation in India.

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India’s GDP Growth Seen Picking Up To 6:6 Pct But GST Fogs Outlook

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India economic process probably accelerated to six.6 p.c within the quarter simply concluded, however analysts polled by Reuters are sounding more and more distressed that confusion over a replacement product and services tax can dampen activity in coming back months.

The forecast, from a survey of over forty economists condemned the past week, compares with growth of 6.1 p.c within the initial 3 months of the year, the slowest pace in 2 years. The vary of forecasts was wide from five.7 p.c to seven.2 percent. company registration in Delhi

It would leave Asia’s third-largest economy behind China, that last reportable growth of half dozen.9 percent; however still among the worlds prime playacting economies.

Prime Minister Narendra Modi’s government shocked the country last November by scrapping high-value banknotes, wiping out regarding eighty six p.c of money in circulation, that crimped client demand in a very preponderantly cash-reliant economy. company formation in Delhi

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Causal Taxpayers Registration Goes Live On GSTN Portal ?

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Casual taxpayers who conduct businesses occasionally can now register for the goods and services tax (GST), which will allow them to execute work that comes their way once in a while.

A taxpayer must go for registration as casual tax payer at least five working days prior to the commencement of business. A casual taxpayer is a person who occasionally undertakes business transactions in a state or union territory where she has no place of business. A tax payer will also have the option to extend the registration duration once for a maximum of 90 days before the expiry of the initial 90-day period for which registration was granted in doing business in India.

Rather than registering as a regular taxpayer and being required to file ‘nil’ returns during off business months, casual taxpayers can enrol for a limited period of time, GSTN noted in its statement. After a taxpayer has opted to register as a ‘casual taxpayer’, a challan has to be generated after giving estimated values of supplies and tax and cess liability during the period of registration. The taxpayer has to make advance tax payment using the payment modes available at the GST portal, thereby completing the second stage of registration, it added in company formation in Delhi.

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Govt Moves To Check Benami, Aadhaar To Be Made Must For Property Deals.

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In a move meant to curb benami transactions and therefore the use of black cash in realty deals, the govt. is going to build Aadhaar-based authentication necessary at the time of registration of documents like agreement purchasable, power of lawyer and can among others. The govt. has additionally firmed up plans to modify electronic registration of properties, that Aadhaar-based authentications are going to be a requirement in company formation in India.

The government plans to amend Sections thirty two and 32A of the Registration Act, 1908, for this. “Every person presenting a document at the property registration workplace for registration shall, whether or not corporal punishment or claiming beneath an equivalent, endure Aadhaar authentication in company incorporation in india.

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Post-FIPB, RBI to frame procedure For FDI approval

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The Reserve Bank is expected to formulate standard operating procedure (SOP) for approval of FDI proposals by ministries following the government decision to phase out FIPB.
The proposal for setting up norms for foreign direct investment (FDI) approvals in sensitive sectors, which are currently under government approval of the FDI policy, was discussed at a recent inter-ministerial meeting in apply for gst online .
According to sources, several options came up for discussions at the meeting. In order to further improve ease of doing business, the government has decided to abolish Foreign Investment Promotion Board and form a new mechanism for expeditious clearance of foreign investment proposals in new gst registration.

GSTN registrations Set to open for Ecommerce Vendors

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Ecommerce companies such as Amazon, Flipkart and Swiggy concerned about losing business after the rollout of the goods and services tax (GST) on July 1 shouldn’t have to worry about being forced to exclude products sold by unregistered vendors in company formations services.

GST, which the government intends to roll out from July 1, 2017, will subsume central excise, service tax and state VAT among other indirect levies on manufactured goods and services. The Central GST (CGST) bill — one of the four legislations introduced, company incorporation in India states that any lease, tenancy, easement, licence to occupy land will be considered as supply of service. Also, any lease or letting out of the building, including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services as per the CGST bill.

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Land Leasing Renting To Attract GST From July 1

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Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax.Sale of land and buildings will be however out of the purview of GST, the new indirect tax regime. Such transactions will continue to attract the stamp duty, according to the legislations Finance Minister Arun Jaitley introduced in the Lok Sabha yesterday for approval.Electricity has also been kept out of the GST ambit in pvt ltd company registration in Delhi.

GST, which the government intends to roll out from July 1, 2017, will subsume central excise, service tax and state VAT among other indirect levies on manufactured goods and services. The Central GST (CGST) bill — one of the four legislations introduced, company incorporation in India states that any lease, tenancy, easement, licence to occupy land will be considered as supply of service. Also, any lease or letting out of the building, including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services as per the CGST bill.

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Govt Cracks The Whip On Shell Companies

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After trying to tighten the rules against shell companies through its Budget proposals, the government has decided to follow with “harsh punitive” action that will include freezing of bank accounts and striking off the names of dormant companies.Their investments in real estate could also come under the scanner, as the government has also decided to invoke the Benami Transactions (Prohibition) Amendment Act. A meeting was held in the Prime Minister’s Office with senior officers of various departments on Friday to review the functioning of companies which do not conduct any operations and do money laundering in India, went an official statement. The regulatory ministry concerned will ensure disciplinary action is initiated against professionals abetting such malpractices and operations in chartered accountant firms in Mumbai.
The basic approach is to prevent money laundering and tax evasion in foreign company registration in India. The government will use technology to identify shell companies. A database on these companies and their directors would be built by pulling information from various agencies. In the Budget for 2017-18, the government has proposed to impose a 10 per cent long-term capital gains tax on those who have invested in unlisted stocks but not paid the securities transaction tax after 2004.

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GST Anti-profiteering Rules Released: Firms Face Cancellation of Registration If found Guilty.

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The government on Tuesday free anti-profiteering rules underneath the products and Services Tax (GST) regime that offer for cancellation of pvt ltd company registration in India of any entity or business if it fails to expire the good thing about lower taxes or input diminution to customers during a conterminous manner.

While a sunset clause of 2 years has been inserted, a amount of 8-11 months has been provided for the total method involving screening of the grievance and sequent investigation and action, if any, by the anti-profiteering authority.

A five-member National Anti-Profiteering Authority, headed by a secretary-level officer, has been planned within the rules. The authority will order reduction in worth conterminous with the lowering of incidence of taxation underneath GST. It additionally seeks come back of the undue profit attained from not passing on the reduction in incidence of tax to customers beside AN eighteen per cent interest, wholly owned subsidiary in India as additionally impose penalty, consistent with the anti-profiteering rules issued by the CBEC on Tuesday.

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