GST Registration

Description

Goods and Services Tax (GST)

As a service provider, I am registered under the Goods and Services Tax (GST) regime. GST is a unified indirect tax levy on goods and services sold or provided in India.

Key Features of GST for Service Providers

– GST is applicable on all services provided, unless exempted
– GST rates vary depending on the type of service (e.g., 5%, 12%, 18%, or 28%)
– Input Tax Credit (ITC) is available for GST paid on business expenses
– GST returns must be filed monthly or quarterly, depending on turnover

Benefits of GST for Service Providers

– Simplified tax compliance and reduced paperwork
– Reduced tax cascading and increased transparency
– Ability to claim ITC on business expenses
– Competitive pricing due to reduced tax burden