Is your business GST compliant?

This post is constantly updated as and when new information is released on GST. 

Published: 19-06-2017 ~ Last Update: 30-08-2017

As the date for implementing the new GST grows closer, we’re committed to facilitating our Seller Community with all the information and services to register, migrate and operate with ease.

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  • How do I apply for a new GSTIN if my company hasn’t been registered earlier through VAT?

New Registration for GSTIN is to be made using Form GST REG-01.

Although the Government has not yet notified the public of the start date for registration, one can be prepared by having the following documents ready:

1. Passport size photograph,

2. Registration Certificate/Proof of Constitution,

3. Proof of place of business – Property Tax receipts, Rent Agreements, etc.

4. Bank Account Related proof – Scanned copy of cancelled cheque/Bank passbook

5. Details of Proprietor/Partners/Karta/Directors

If you do not have a GSTIN, you can avail one in just 7 days by clicking here: http://bit.ly/2sd5YVd

Link not working? Follow the path mentioned below: –

Store Manager > Services > Manage your Operations > Register for GST 

  • How do I get a GST certificate if I already have a GST number?

GST certificate is an acknowledgment that ‘Application for Enrollment of Existing Tax Payer,’ has been filed.

It contains the Application Reference No. (ARN) and the provisional GST number.

The same can be downloaded from the site www.gst.gov.in by logging in with the provisional ID & password, once you have completed the process of migration. 

  • How much tax does an e-commerce seller have to pay on monthly / quarterly / yearly basis?

Amount of tax to be paid shall depend on the sales made by the merchant and rate of tax which is levied on the particular product sold by him. Thereafter, the merchant can reduce the amount of taxes paid on its own purchase. The balance amount needs to be paid to the Government by 20th of the next month. 

  • What do I do if my store pickup address is different from my registered GST address?

As per government regulations, state code in GSTIN should match the state name mentioned in the pickup address. In case of a mismatch, you can either raise a ticket to get your pick-up address changed, or enter a valid GSTIN.

  • What GST rates are applicable for my products? 

Here is the link to the master list published by the Government of India. Click on this to find the GST rates applicable for your products.

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification%20for%20IGST%20rate%20Schedule-1.pdf

  • Rate of Integrated Goods and Services Tax (IGST)

Central Government notified (28th June, 2017) 

S No. IGST Rate Schedule
1 5% In respect of goods specified in Schedule I
2 12% In respect of goods specified in Schedule II
3 18% In respect of goods specified in Schedule III
4 28% In respect of goods specified in Schedule IV
5 3% In respect of goods specified in Schedule V
6 0.25% In respect of goods specified in Schedule VI

 

Below is the link to access the Schedules

 http://www.cbec.gov.in/resources/htdocs-cbec/gst/Notification%20for%20IGST%20rate%20Schedule-1.pdf

  • What is an HSN code? 

HSN or Harmonized System of Nomenclature is a code used for classifying goods, from all over the world, in a systematic and logical manner.
It is an 8-digit uniform code which is accepted worldwide.

To know more about how to generate and manage your products using HSN codes, click here: http://bit.ly/2wIZFKz

You can also access our PPT on the basics of GST on ShopClues University, right here: 

http://storemanager.shopclues.com/vendor.php?dispatch=shopclues_university.view&p_id=1&c_id=40&cat_pos=2

This post is constantly updated as and when new information is released on GST.

Published: 19-06-2017 ~ Last Update: 30-08-2017

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