All About GST Goods and Services Tax

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CENTRAL GOODS AND SERVICES TAXCentral goods and services tax is imposed on the supply chain of goods and servicesundertaken within Intra State.The CGST is charged by the Central Government which is sum up of a few indirect taxeslikeCessesCustom DutyService TaxCentral Excise TaxBoth the Central and the State governments will agree on combining their taxation withan appropriate proportion for revenue sharing between the government.STATE GOODS AND SERVICES Tax2/4
State Goods and Services Tax are charged by the State Government which is imposed ongoods and services also at the Intrastate level. SGST is a sum-up of many tasks like VAT,Entertainment tax, Sales tax, etc. Both CGST And SGST agree to combined theirappropriate and equal portion of the percentage which is levied by the government is 18%.Example for CGST and SGSTLet’s suppose Krishna is a dealer in Uttar Pradesh who sold goods to Ramanin UP worth Rs. 10,000. The GST rate is 18% comprising of CGST and SGSTequally divided rate of 9%. In such a case, the dealer collects Rs. 1800 ofwhich Rs. 900 will go to the Central Government and Rs. 900 will go to theUttar Pradesh Government.Integrated Goods and Services TaxUnder GST, IGST is a tax imposed on inter-State supplies of goods and services and willbe governed by the IGST Act. IGST will be applicable on any supply of goods and serviceswhich is done outside the country.Let us suppose the sale of goods and services is done for RS 1 lakh. On thissale, GST is applicable @18% directly. This means the dealer to pay Rs 18000as tax to the government.Union territory goods and services tax (UTGST)UTGST is levied by the Intra State supplies of goods and services. UTGST is a counter ofSGST. UTGST is applicable only on the supply of 7 union territories.WHY NEW GST REGISTRATION IS MANDATORY?New Registration of GST is a mandatory requirement for all businesses. The business hasto register under the GST Act Rules, to generate their GST number for smoothly runningtheir business.There are many small- and large-scale business who should register for GST like e-commerce aggregator, Supplier, and Distributors, who supplies online information ofgoods and services, etc. Businesses that have a turnover above 40 lakhs have a limitationfor GST for sale of goods in normal category state and 10 lakh GST limit for specialcategory states like hill states and the North Eastern States.How to register GST online in a hassle-free manner?In this Digital Era, LEGALWISER offering you to get a new GST Registration in Agra.We are waiting to give our excellent services for your business to register and apply for aGST online Number.Below are the GST Registration benefits in Agra and PAN-India which youwill be getting from LEGALWISER mention below: –➔ Apply for online GST Number3/4
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All About GST Goods and Services Tax

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