Is service tax registration required after GST?

After the GST implementation in India, the CBEC has withdrawn then service tax registration. The service providers have to register under the Good and Service Tax (GST). Any service provider who has an annual turnover of more than INR 20 lakhs (and INR 10 lakhs in the Special Category States) have to register for GST.

Is GST registration mandatory for startups?

However, any business whose turnover exceeds Rs 40 lakh in a financial year is required to register under GST. This higher threshold under GST has brought compliance relief to many small businesses, including startups in India.

Is service tax registration mandatory?

Service Tax registration is mandatory for every person or business in India that has provided a taxable service of value exceeding Rs. 9 lakhs, in the previous financial year.

When should we apply for service tax registration?

When should a prospective assessee obtain registration? i. When a person commences business of providing a taxable service, he is required to register himself within 30 days of such commencement of business [sub-rule (1) of Rule 4 of Service Tax Rules, 1994].

What happens if service tax return is not filed?

If an assessee has not filed his or her service tax return for more than 30 days following the expiry of the prescribed deadline, then a late payment fee of Rs 1,000, along with an extra charge of Rs 100 for every additional day of delay in excess of the initial 30 days, will be charged.

Can I start business without GST in India?

Businesses and individuals are exempt from GST if their annual aggregate turnover is less than a specific amount. At the time of GST implementation in July 2017, businesses/individuals with annual aggregate turnover of less than Rs. 20 lakhs were allowed GST exemption. A lower limit of Rs.

Are startups exempt from tax?

Such startups will be eligible for getting 100\% tax rebate on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs. 25 crores in any financial year. This will help the startups to meet their working capital requirements during their initial years of operation.

What are the services exempted from service tax?

Small scale service providers can avail of service tax exemption up to a maximum of Rs 10 lakhs. Any service that is provided or offered free of cost is exempt from service tax. Taxable services that are provided to diplomats and their family members for official purposes are exempt from service tax.

Who is responsible for service tax registration?

Who should apply for registration under Service Tax law? Every person who has provided a taxable service of value exceeding Rs. 9 lakhs, in the preceding financial year, is required to register with the Central Excise or Service Tax office having jurisdiction over the premises or office of such service provider.

When should a startup be registered?

You are a Private limited company, an LLP or a partnership firm. Your business must be incorporated or registered in India, not before 5 years.

When do I have to start charging GST/HST on my taxable supplies?

Your effective date of registration is no later than the beginning of the month after you are no longer a small supplier. You have to start charging GST/HST on your taxable supplies starting on your effective date of registration. On February 1, 2020, you started a business that sells candles. You made the following sales:

Is your business registered for the HST?

If your business is registered for the GST, it is also registered for the HST.

How can non-residents register for GST/HST?

Non-residents wanting to register for the GST/HST can fill out Form RC1, Request for a Business Number and Certain Program Accounts, and fax or mail it to your designated non-resident tax services office.

What are the requirements for GST registration in India?

Under the GST law, businesses with turnover exceeding INR 40 lakh* (INR 10 lakh for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand) is compulsorily required to obtain GST registration. The limit is applicable to the supplier of goods only.