GST Updates
A Quick Guide To India GST Rates In 2017

A Quick Guide To India GST Rates In 2017

The Goods and Services Tax (GST) has been one of the most important things that have caught the attention of the media and the market because of its implications on the earnings of companies. A large number of items have been kept under 18% GST rates slab by the government. Around 1211 items were categorized under various slabs based on their GST rates. Given below is low-down on the tax slab that these items would attract, along with their GST rates:

The complete updated list:

Gold and rough diamond will be taxed at 3% and 0.25% respectively. They do not fall under the current rate slab ambit.

GST Updates
What Is The GST Registration Process In India?

What Is The GST Registration Process In India?

The GST registration process under the new GST rules is done through an online portal that is maintained by the Central Government of India.

The GST registration process looks like this at the moment:

  1. The person who is registering first has to submit his email address, his PAN card details and, mobile phone number in Part A of the Form which is labeled GST REG–01 on the GSTN portal or through a Facilitation center (to be notified by the commissioner or the board).
  1. The GST portal verifies the submitted details like the PAN, mobile phone number and the E-mail address, the latter of which are verified using the One Time Passwords (OTPs). After completion of the verification process, an application reference number is sent to the registered phone number and E-mail address. You are expected to acknowledge the same through the GST REG-02 form on the portal.