Can an individual get a GSTIN?
Yes you can. GST applies to you if you are:
- An individual who supplies products
- An agent who acts in behalf of a supplier
- A person who supplies goods or services on behalf of an e-commerce operator.
What does HSN code mean?
Harmonized System of Nomenclature or HSN, is a 6-digit uniform code, which is used for classifying goods all over the World in a systematic manner. HSN covers around 98% of all goods produced and traded in, under its sphere. Also, it helps to determine the appropriate rates applicable to the goods and services.
My sales is less than 20 lakhs. Do I still need a GST number?
GST registration is essential for all sellers who operate on online marketplaces or "e-commerce operators" as mandated by the Government, even if a single order is processed by the seller. In case you are eligible for returns, you can file for the same during your return filing with the Government
A seller is liable to register for GST under the following circumstances:
1- Online sales
2- Interstate transactions
- Can I use my savings account to register for GSTIN?
Yes you can use any one of your savings, cash credit or current accounts for GST registration.
Who will pay GST to the govt?
You, the seller, will be paying GST to the Government. Industrypurchase enables you to collect GST taxes from the customers. The taxes will be transferred to you along with the weekly remittance pay out. You will have full and complete responsibility of paying taxes.
Can I skip Updating My Digital Signature on Industrypurchase?
The GST law mandates sellers to submit a digital copy of their signature. Industrypurchase also needs to record every GST identified merchant's signature in our files, for compliance with Govt. mandated regulations.
You simply need to upload a digital copy of your signature. You can rest assured, this will not be mishandled or misused in any way.
My Invoice shows Wrong Percentage of GST. How Can I Change it?
If you find a GST mismatch on an invoice, please raise a query to our support executives at email@example.com, and we will look into it for you.
What is GST & GSTIN?
GST, or Goods & Services Tax, is an indirect tax levied by the government on all manufacture, sale, and consumption of goods and services in India. With the implementation of GST, we will all just pay a single tax – the Goods and Services Tax. If you sell on an e-commerce marketplace, GST information has to be maintained and furnished by you.
GSTIN is Goods & Services Tax Identification Number, with which you can access a digitized account of all taxation filed by you under GST regime. You will obtain this number by applying for GSTIN.
How Do I Register for GSTIN?
It is not difficult to obtain a GSTIN!
You should be ready with the following documents in soft copies in order to get your GST registration process started:
PAN card of the company
Legal Company Name
Proof of the company premises: Rent Agreement / Allotment / Possession Letter / Registry papers along with Electricity bill of Landlord/owner/ Copy of the Building Tax Receipt if the business is running on owned premises.
A cancelled cheque of your company's bank account
A proof of constitution like partnership deed, MOA, AOA, certificate of incorporation.
I deal in handicrafts. Do I need GSTIN for registration? Why is it essential to have GSTIN when GST is 0% on handicrafts?
GSTIN is mandatory when you sell on an e-commerce marketplace, as mandated by law. This happens because inter-state transactions and online transactions cannot happen without the seller's GST identification.
However, if you fall under a non-taxable category like Handicrafts, you can state the same while filing your taxes from the Government.