The Government of India is committed to bring about one of the biggest reforms in the indirect taxation system in India by introducing GOODS AND SERVICES TAX (GST) in the near future. As it is a new concept in India, business owners finding a way for the best GST registration services in Delhi and Digi Accounto took an online platform to serve them by providing proper information about GST.
GST registration will be implemented compulsorily all over India, it is allocation-based VAT (value added tax) which will completely remove trade barriers and generate one common Indian market. By providing seamless credit of input tax across entire supply chain, it will remove the cascading effects of taxes, thereby reducing the cost of indigenous goods and services and making them more competitive in the international market. It will subsume various indirect taxes currently levied in the country by the Centre and the states including excise duty, service tax, value added tax (VAT), Central Sales Tax (CST), purchase tax, octroi, entry tax,etc. We guide the business owners properly, if they are searching for GST registration in India.
India being a federal country, it will follow the dual model of GST where GST is levied by both the Central (CGST) and the State (SGST) Governments, just like Brazil and Canada. Inter-State Goods and Service Tax which is known as IGST would be applied in case of inter-state transactions by the central government. Economists believe that once implemented, it would boost India GDP by at least 2%. Apart from a few materials, all Goods and service comes under GST base. Importantly, there will be no distinction between goods and services, for the purpose of the tax, with GST being applicable to both. Exports will be zero-rated. Apart from all the new terminology added in the tax system, we have kept the process of GST registration in Delhi very simple.
As GST would work on the principle of value-added tax, we not only put the light on the fact that, it would eliminate the cascading effects of double taxation but also simplified the GST Registration process in India, thereby favourably impacting the domestic manufacturing sector and also encourage the flow of foreign investments to India. Considered as a progressive system of taxation, it will bring the Indian taxation system at par with the system existent in developed countries. But it requires the best GST registration services in Delhi which can facilitate the small, medium and large business owners in a simplified manner
The Goods and Services Tax (GST), India biggest tax reform in 70 years of independence, was launched on the midnight of 30 June 2017 by the Prime Minister of India Narendra Modi. The launch of GST bill was historically noted on June 30-July 1, 2017 (midnight), both the houses Lok Sabha & Rajya Sabha convened at the Central Hall of the Parliament. GST will enable businesses to move into different geographies seamlessly GST is a welcome change and in principle looks attractive and simplify the tax regime. GST shall provide the much-needed stimulant for economic growth in India by ensuring the free flow of goods and services within the economy and also eliminating the cascading effect of different taxation.
Our GST registration services Include: