Professional GST Services in Mumbai - PowerPoint PPT Presentation

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Professional GST Services in Mumbai

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If you're looking for GST Compliance services in Mumbai, it's time to sit back and relax. In this post, we will go over the fundamentals of GST and show you how we can assist you with GST through our services so that you can focus on your business without worrying about GST. – PowerPoint PPT presentation

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Title: Professional GST Services in Mumbai


1
Professional GST Services in Mumbai
  • www.visersolutions.com

2
  • If you're looking for GST Compliance services in
    Mumbai, it's time to sit back and relax. In this
    post, we will go over the fundamentals of GST and
    show you how we can assist you with GST through
    our services so that you can focus on your
    business without worrying about GST.

3
What is GST?
  • GST (Goods and Services Tax) is an Indian tax on
    the supply of goods and services. The concept of
    GST was introduced in 2017 and went into effect
    on July 1, 2018. It is an indirect tax that has
    largely replaced other taxes such as excise duty,
    service tax, and so on.
  • GST was first implemented in India to replace the
    Central Excise Duty (CED) on goods and services.
    It has been renamed "the biggest" tax reform
    since Independence Day in 1947! Except for gold,
    real estate, and luxury cars, the current GST
    rate is 5 on almost all goods and services.

4
What is GST Registration?
  • GST registration is a certification from the
    Government of India that your business is
    eligible to collect GST. It is required for all
    GST-registered businesses and ensures that you
    are eligible to charge and collect tax on your
    sales.

5
What are the different types of GST?
6
Central Goods and Services Tax (CGST) (CGST)
  • In India, the Central Goods and Services Tax
    (CGST) is a tax on the supply of goods or
    services. CGST will be levied on all inter-state
    supplies, regardless of where they are
    manufactured. When a service is provided in any
    part of India, a service tax is levied.
  • The CGST percentage rate is high in comparison to
    normal custom duty rates, which vary by state.
    The CGST rate is 13.36 percent, but the actual
    amount charged may vary depending on the nature
    of the supply and other factors such as
    exemptions.

7
State Sales and Use Tax (SGST)
  • The State Goods and Services Tax (SGST) is a tax
    levied by a state's government on the sale or
    purchase of goods or services within that state.
    It is generally levied at a higher rate than the
    central Goods and Services Tax (GST).
  • Each state has its own set of tax rates for
    various goods and services. For example, all
    goods sold in Mumbai, Maharashtra state, are
    subject to a 5 sales tax. In Gujarat, all items
    sold in the state are subject to a 12 sales tax.

8
The Integrated Goods and Services Tax (IGST)
(IGST)
  • The IGST is an interstate trade and commerce tax.
    The central government has proposed imposing IGST
    on all inter-state sales, supplies, and purchases
    of goods and services, which may include the
    transfer of property, provision of services, and
    other activities that result in the movement of
    goods between two or more states.
  • The IGST will be levied at a rate of 5 on all
    interstate sales, supplies, or purchases of goods
    and services. The levy will be levied both at the
    time of GST registration and when goods are
    delivered to the recipient. Suppliers will also
    be required to pay input tax credit (ICT) if they
    pay taxes on inputs used in production activities
    out of their own pockets.

9
Union Territory Goods and Services Tax (UTGST)
  • The UTGST is levied on goods and services sold by
    a business in a Union Territory to another
    business or individual located outside of the
    Union Territory. Inter-state trade is taxed at
    0, while intra-state trade is taxed at 10.

10
Why choose Viser for GST Registration Services in
Mumbai?
  • The dedicated expert team is composed of
    qualified Chartered Accountants, Company
    Secretaries, Legal Consultants, IT Experts, and a
    highly-skilled Accountant team to meet all
    compliances with high accuracy.
  • GST operations are being automated with
    user-friendly software to eliminate
    non-compliance and due date headaches.
  • Proactive support and maintenance from a team of
    experts who are easily accessible.
  • With the best security tools, you can provide
    data security and ensure the integrity of your
    data.
  • Budgeted solutions result in significant cost
    savings. With this, we at Viser Solutions say,
    'Focus on what you do best, and be completely
    confident about the rest'.

11
The End
www.visersolutions.com
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