GST Registration in Chennai

GST can be described as Goods and Service tax, which is a major indirect tax reform that has been introduced in India. GST registration in Coimbatore is done since it is the tax levied on the sale and consumption of the goods and services. It is done by integrating major indirect taxes of the state and the centre. It can also be described as a destination based consumption tax which is made on value addition. Three most indirect taxes exist for the centre. Union excise tax duties, service tax and the custom duties. Out of these, the central excise and service taxes are brought under the GST. Also the State has two important taxes. They are sales tax and state excise duties. Out of these two, the sales tax is brought under the GST. Added to these taxes several low incurring taxes are also brought under the GST.

GST Filing in Chennai is important since GST is the unification of several taxes into a single GST. The GST has four tire rate structure. Some of the services like educational institutions, post office and RBI have exemption from the service tax. The centre and the state will share the tax revenues in the ratio 50:50. The IGST is exempt. When it is said that the centre and the state are merging their taxes under the GST, both centre and state must get their shares. Hence the GST council has adopted dual GST with two components. Central GST (CGST) and the State GST (SGST). GST registration is inevitable as the traders who like to get input tax credit make a voluntary registration even if their sales are below Rs.20 lakh per year. In case of intra state production and consumption, the share of GST will accrue to the concerned state. Hence GST registration is the most important aspect in the field of Indian economy.