GST Suvidha Center

WHAT IS GST

It is considered as one of the biggest indirect tax reform of India for the supply of goods and service such as purchase and production of raw material, sale to the wholesaler, consumer and retailer with additional combinational taxes like Central Excise Law, Service Tax Law, VAT, Entry Tax, Octroi, etc. This act was implied on 29th March and came into effect on 1st July 2017.

Reason for GST implementation

One of the main reasons for GST being introduced in India is the tax burden that falls both on companies and consumers.

With the current tax system, there are multiple taxes added at each stage of the supply chain, without taking credit for taxes paid at previous stages. As a result, the end cost of the product does not clearly show the actual cost of the product and how much tax was applied. This cascading structure is too complex and inefficient.

GST has integrated most of the taxes into a single one, applied on the sale and purchase of goods and services, with deductions for taxes paid at previous supply chain stages. This structure is predicted to be easier to track both for the government and business owners.

STRUCTURE

  •  SGST – State GST, collected by the State Govt.

  •  CGST – Central GST, collected by the Central Govt

  •  IGST – Integrated GST, collected by the Central Govt.

  •  UGST – Union territory GST, collected by union territory government

Advantages of GST

With the startup of this program, many previous types of taxes have been replaced with one single tax which is a major help in reduction of burden such as double taxation, cascading, a multiplicity of taxes, classification issues, taxable event, etc.

BENEFITS FOR NATION

  •  Boost export and manufacturing activity

  •  Help in reducing the poverty rate

  •  Reduce the incentive for tax evasion through uniform rates

  •  boost to Foreign investment and “Make in India” campaign

BENEFITS FOR INDIVIDUAL (CONSUMER)

  •  Simpler Tax system

  •  Reduction in prices of goods & services due to an elimination of cascading

  •  Uniform prices throughout the country

  •  Transparency in the taxation system

  •  Increase in employment opportunities

BENEFITS FOR INDIVIDUAL (TRADER)

  •  Simpler tax regime

  •  Fewer rates and exemptions

  •  The distinction between Goods & Services no longer required

  •  Development of common national market

GST SUVIDHA CENTER

The Goods and Services Tax (GST) implementation has increased the number of indirect and direct taxpayers. For many taxpaying organizations, GST returns filing directly through portal may not be a very good option, because of complex structure. For solving such complexities an enterprise could access same/additional features via third-party applications. These applications will be much more user-friendly and customer focused.GST practitioner is a kind of consultant who provides services to other taxpayers through online mode. GSP applicants meeting the eligibility will be required to sign a contract with GSTN to become an authorized provider.

BUSINESS OPPORTUNITY

Most people are currently clueless about what GST entails. So for a lot of startups in the compliance and taxation space, this would be a time to create an opportunity by making yourself visible. You can say hey, you need support with GST? We can offer it to you. So this is the time for you to easily capture the market and make yourself visible. While large companies may have their own legal and taxation teams to handle the transition, the opportunity really lies with medium-sized and small businesses.

if you are interested to start your own business then we offer you our help .we will provide you our supporting team to set up your own business by opening the GST Suvidha center for you. We will facilitate you with all the required needs to open your own center.

When you have your own working center of GST you get to earn by providing a number of businessmen with various GST services. These services mainly include GST number, GST return filing, bookkeeping, PAN, etc. The GST suvidha center will not be just a source of income for you but also the future as the earning is every month. Your secured future depends on your one decision, your one quick decision.