{"id":2611,"date":"2016-08-01T10:54:49","date_gmt":"2016-08-01T05:24:49","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2611"},"modified":"2022-01-29T12:19:54","modified_gmt":"2022-01-29T06:49:54","slug":"gst","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/gst\/","title":{"rendered":"GST registration system"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dcc4147d8b0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dcc4147d8b0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/gst\/#The_Goods_and_Services_Tax_GST\" title=\"The Goods and Services Tax (GST)\">The Goods and Services Tax (GST)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/gst\/#Whats_the_GST_Registration_System\" title=\"What&#8217;s the GST Registration System?\">What&#8217;s the GST Registration System?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/gst\/#Who_must_require_to_undertake_GST_Registration_services\" title=\"Who must require to undertake GST Registration services?\">Who must require to undertake GST Registration services?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/gst\/#List_of_Documents_To_Be_file_while_GST_Registration\" title=\"List of Documents To Be file while GST Registration\">List of Documents To Be file while GST Registration<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/gst\/#What_are_Services_Covered_under_the_GST_registration\" title=\"What are Services Covered under the GST registration,\">What are Services Covered under the GST registration,<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/gst\/#How_to_Download_GST_Certificate\" title=\"How to Download GST Certificate\u00a0\">How to Download GST Certificate\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/gst\/#Penalty_for_non-registration_under_GST\" title=\"Penalty for non-registration under GST \">Penalty for non-registration under GST <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/gst\/#GST_Bill_Government_looks_forward_to_decreasing_additional_tax_and_compensating_the_states_for_5_years\" title=\"GST Bill: Government looks forward to decreasing additional tax and compensating the states for 5 years.\">GST Bill: Government looks forward to decreasing additional tax and compensating the states for 5 years.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/gst\/#What_were_the_demands_of_Congress\" title=\"What were the demands of Congress?\">What were the demands of Congress?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/gst\/#What_the_government_wished_for\" title=\"What the government wished for?\">What the government wished for?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/gst\/#What_can_be_the_impact_if_the_Entry_tax_is_dropped_by_1\" title=\"What can be the impact if the Entry tax is dropped by 1%?\">What can be the impact if the Entry tax is dropped by 1%?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/gst\/#What_is_Revenue_Neutral_Rate\" title=\"What is Revenue Neutral Rate?\">What is Revenue Neutral Rate?<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/gst\/#GST_Return_compliances_calendar-_Nov_2020\" title=\"GST Return compliances calendar- Nov 2020\">GST Return compliances calendar- Nov 2020<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/gst\/#SALIENT_FEATURES_OF_NEW_GST_SYSTEM_IN_INDIA\" title=\"SALIENT FEATURES OF NEW GST SYSTEM IN INDIA\">SALIENT FEATURES OF NEW GST SYSTEM IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/gst\/#Key_points_of_42nd_GST_council_Meeting_headed_By_FM_N_Sitharaman\" title=\"Key points of 42nd GST council Meeting headed By FM N. Sitharaman\">Key points of 42nd GST council Meeting headed By FM N. Sitharaman<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/gst\/#GSTN_enable_auto-populated_in_the_E-invoice_information_into_GST_Return_-1\" title=\"GSTN enable auto-populated in the E-invoice information into GST Return -1\">GSTN enable auto-populated in the E-invoice information into GST Return -1<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/Gstr2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10743\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/Gstr2.jpg\" alt=\"\" width=\"749\" height=\"559\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/Gstr2.jpg 570w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/Gstr2-300x224.jpg 300w\" sizes=\"(max-width: 749px) 100vw, 749px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Goods_and_Services_Tax_GST\"><\/span><span style=\"color: #000080;\">The Goods and Services Tax (GST)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Whats_the_GST_Registration_System\"><\/span><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/Gstr2.jpg\"><span style=\"color: #000080;\"><strong>What&#8217;s the <\/strong><\/span><\/a><strong><a href=\"https:\/\/www.caindelhiindia.com\/blog\/application-of-gst-on-contribution-by-rwa-members\/\">GST<\/a> Registration System?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Under the GST regime, business owners whose turnover exceeds Rs. 40 lakhs* (Rs. 10 lakhs for NE and hill states) are required to be registered as a normal taxable person. This registration procedure is termed the GST registration process.<\/p>\n<p>Registration under the GST is compulsory for only certain companies. If the organisation sells its goods without registration under the GST, it will be an offense under the GST and severe penalties will apply.<\/p>\n<p>Registration of GST typically takes approximately 2-6 business days. We&#8217;re going to help you register for GST in 3 easy steps.<\/p>\n<p>*CBIC reported an increase in the threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification shall come into force on 1 April 2019.<\/p>\n<p>Goods and Services Tax (GST) Registration Services at Rajput jain and Associates helps you register your GST company and get your GSTIN.<\/p>\n<p>RJA help via GST Experts will guide you on the applicability &amp; Compliance of your corporate with GST but will register your company with GST.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_must_require_to_undertake_GST_Registration_services\"><\/span><span style=\"color: #00ff00;\">Who must require to undertake GST Registration services?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-reactid=\"224\">\n<li data-reactid=\"225\">Any business having a turnover of INR\u00a0 40,00,000\/- or more in a FY<\/li>\n<li data-reactid=\"227\">Any business having a turnover of INR 10,00,000\/- or more in a FY (For North Eastern States)<\/li>\n<li data-reactid=\"229\">Already registered business under Service Tax (operating online\/offline) or Central Excise, VAT ,<\/li>\n<li data-reactid=\"231\">Non-resident taxable person operating his or her business in India.<\/li>\n<li data-reactid=\"233\">Vendors selling online through e-commerce platforms.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"List_of_Documents_To_Be_file_while_GST_Registration\"><\/span><span style=\"color: #00ff00;\">List of Documents To Be file while GST Registration<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/GST-Registration-Requirements-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10747\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/GST-Registration-Requirements-1.png\" alt=\"\" width=\"459\" height=\"350\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/GST-Registration-Requirements-1.png 789w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/GST-Registration-Requirements-1-300x229.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/GST-Registration-Requirements-1-768x585.png 768w\" sizes=\"(max-width: 459px) 100vw, 459px\" \/><\/a><\/p>\n<ul>\n<li>Letter of Authorization\/Board Resolution for Authorized Signatory<\/li>\n<li>Copy of Identity and Address proof of Promoters\/Director with Photographs<\/li>\n<li>Copy of Bank Account statement\/Cancelled cheque<\/li>\n<li>A Copy of Digital Signature<\/li>\n<li>Copy of PAN of the Applicant<\/li>\n<li>Copy of Aadhaar card<\/li>\n<li>A Copy of Proof of business registration or Incorporation certificate<\/li>\n<li>Copy of Address Proof of the place of business<\/li>\n<li>NOC certificate from the owner of the property of the property<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"What_are_Services_Covered_under_the_GST_registration\"><\/span><span style=\"color: #ffcc00;\">What are Services Covered under the GST registration,<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul data-reactid=\"210\">\n<li data-reactid=\"211\">we will complete our filing of Application for GST Registration<\/li>\n<li data-reactid=\"211\">We undertake the follow up till you secure GST Identification Number is not genrated,<\/li>\n<\/ul>\n<h3 class=\"mt0\"><span class=\"ez-toc-section\" id=\"How_to_Download_GST_Certificate\"><\/span><span style=\"color: #993366;\">How to Download GST Certificate\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No, without login it cannot be acquired. But you can follow the following steps to easily download your GST certificate if you have login details The download of the GST Registration Certificate will take place step by step here.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/download-16.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10751\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/download-16.jpg\" alt=\"\" width=\"575\" height=\"266\" \/><\/a><\/p>\n<p><span style=\"color: #000080;\"><strong>Step-by-step Process for downloading the GST Registration Certificate:<\/strong><\/span><\/p>\n<p>Step 1-GST Portal login.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/11-768x388.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10736\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/11-768x388.jpg\" alt=\"\" width=\"485\" height=\"246\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/11-768x388.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/11-768x388-300x152.jpg 300w\" sizes=\"(max-width: 485px) 100vw, 485px\" \/><\/a><\/p>\n<p>Step 2-Go to &#8216;Services&#8217; &gt; &#8216;User Services&#8217; &gt; &#8216;Certificate view\/download.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/step-3-768x328.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10737\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/step-3-768x328.jpg\" alt=\"\" width=\"525\" height=\"225\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/step-3-768x328.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/step-3-768x328-300x128.jpg 300w\" sizes=\"(max-width: 525px) 100vw, 525px\" \/><\/a><\/p>\n<p>Step 3-Click on the icon &#8216;Download&#8217;<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/certificate-page-001-724x1024.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-10738\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/certificate-page-001-724x1024-724x1024.jpg\" alt=\"\" width=\"507\" height=\"719\" \/><\/a>The certificate includes all of the company information. Basic information such as the name, address, and date of company registration is shown on the first page.<\/p>\n<p>another second page is \u2018Annexure A\u2019 which provided details of any other additional place of business of the Firm.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/1certificate-page-0021-768x361.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-10740\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/1certificate-page-0021-768x361.jpg\" alt=\"\" width=\"768\" height=\"361\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/1certificate-page-0021-768x361.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/1certificate-page-0021-768x361-300x141.jpg 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/a><\/p>\n<p>The last and third page as attached in \u2018Annexure B\u2019 has details of the person-in-charge of the business.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/2certificate-page-0031-768x371.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-10741\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/2certificate-page-0031-768x371.jpg\" alt=\"\" width=\"768\" height=\"371\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/2certificate-page-0031-768x371.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/08\/2certificate-page-0031-768x371-300x145.jpg 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Penalty_for_non-registration_under_GST\"><\/span><span style=\"color: #ff9900;\"><strong>Penalty for non-registration under GST <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An offender who does not pay tax or make short payments (genuine errors) must pay a penalty of 10% of the amount of tax due, subject to a minimum of Rs.10,000.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"GST_Bill_Government_looks_forward_to_decreasing_additional_tax_and_compensating_the_states_for_5_years\"><\/span><span style=\"color: #0000ff;\"><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Bill: Government looks forward to decreasing additional tax and compensating the states for 5 years.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">The following seven days will be quite a challenging Phase in Rajya Sabha as GST Bill is in the critical stage as it is proposed to implement GST in April 2017.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">There are several reasons which had prevented the passing of the GST Bill in the upper house. Out of these some factors were the political agendas which were hidden and other visible factors can be best understood from analyzing the following demands of the Congress Party which is right now the single largest party in the upper house.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">India moved a step further to implement the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> when the government agreed on Wednesday to reduce the contentious 1% tax on manufacturing and wholly compensate the states for 5 years for all potential losses suffered after new system comes into force.<\/span><\/p>\n<figure id=\"attachment_8967\" aria-describedby=\"caption-attachment-8967\" style=\"width: 620px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/09\/10.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-8967\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/09\/10.jpg\" alt=\"www.carajput.com; GST\" width=\"620\" height=\"329\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/09\/10.jpg 620w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/09\/10-300x159.jpg 300w\" sizes=\"(max-width: 620px) 100vw, 620px\" \/><\/a><figcaption id=\"caption-attachment-8967\" class=\"wp-caption-text\">www.carajput.com; GST<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"What_were_the_demands_of_Congress\"><\/span><span style=\"color: #0000ff;\"><strong>What were the demands of Congress?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">There were 3 demands of the congress party:<\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"color: #000080;\">With a view of benefiting the states which are involved in manufacturing industries, Congress wanted to abolish proposed additional Entry tax by 1%.<\/span><\/li>\n<li><span style=\"color: #000080;\">To clearly establish a ceiling limit of 18% rate of GST in the constitution.<\/span><\/li>\n<li><span style=\"color: #000080;\">To draw up an independent authority to settle the Goods and Services Tax dispute headed by a judge.<\/span><\/li>\n<\/ol>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"What_the_government_wished_for\"><\/span><span style=\"color: #0000ff;\"><strong>What the government wished for?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">The government already has given its consent to 2 demands:<\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"color: #000080;\">To establish authority to settle <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> dispute.<\/span><\/li>\n<li><span style=\"color: #000080;\">Abolishing additional Entry tax of 1% on 27th of July, 2016 in one of its cabinet meetings.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">On the other hand, the government is not giving consent to consider the third demand to include a ceiling limit of 18% in the GST rate as it says this rate cannot be easily incorporated in the constitution.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_can_be_the_impact_if_the_Entry_tax_is_dropped_by_1\"><\/span><span style=\"color: #0000ff;\"><strong>What can be the impact if the Entry tax is dropped by 1%?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">After conducting various meetings for around a decade, by the collective efforts of experts, various organizations, and committees led by Dr. Aravind Subramanian,\u00a0 it was agreed to settle with RNR (Revenue Neutral Rate) the rate between 17% to 18%.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">It was duly recommended by making a provision of 1% Entry tax but here the petroleum sector was outside the scope of RNR.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Revenue_Neutral_Rate\"><\/span><span style=\"color: #0000ff;\"><strong>What is Revenue Neutral Rate?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">Revenue Neutral Rate refers to the single rate which helps in preserving the revenue at desired levels. It is that single rate that slowly gets converted into full-rate structure depending on various exemptions allowed by different policy choices made. It decides what commodities are to to be charged at a lower rate and what commodities with a higher rate.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000080;\">The RNR can be clearly differentiated from the &#8220;standard rate&#8221; which is proposed to be given in the GSThttps:\/\/carajput.com\/gst\/gst-consultancy.php Regime which is applied to all the services and goods whose taxation policy is not clearly defined in any act or law. So, typically most if the goods and services are taxed at a standard rate,although it may be noted that it need not be a thumb rule (compulsory rule) to charge a standard rate.<\/span><\/p>\n<p><span style=\"color: #000080;\">So basically RNR is that rate where both state government and the central government will incur loss from the viewpoint of collection of taxes in order to earn revenue.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"What is GST | GST \u0915\u094d\u092f\u093e \u0939\u0948 | Types of GST Registration | GST Return | GST Registration Process\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/WRnOU8xORgw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"color: #000080;\"><b>Popular updates:<\/b><\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"GST_Return_compliances_calendar-_Nov_2020\"><\/span><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/gst-complainces-calender-nov-2020.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/publications\/gst-complainces-calender-nov-2020.pdf\">GST Return compliances calendar- Nov 2020<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"SALIENT_FEATURES_OF_NEW_GST_SYSTEM_IN_INDIA\"><\/span><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\" data-cke-saved-href=\"https:\/\/carajput.com\/learn\/salient-features-of-new-proposed-gst-system-in-india.html\">SALIENT FEATURES OF NEW GST SYSTEM IN INDIA<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Key_points_of_42nd_GST_council_Meeting_headed_By_FM_N_Sitharaman\"><\/span><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/key-points-of-42th-gst-council-meeting-headed-by-fm-n-sitharaman\/\">Key points of 42nd GST council Meeting headed By FM N. Sitharaman<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"GSTN_enable_auto-populated_in_the_E-invoice_information_into_GST_Return_-1\"><\/span><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\" data-cke-saved-href=\"https:\/\/carajput.com\/blog\/gstn-enable-details-to-be-auto-populated-in-e-invoice-into-gstr-1\/\">GSTN enable auto-populated in the E-invoice information into GST Return -1<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/\" data-cke-saved-href=\"https:\/\/carajput.com\/\"><strong>Rajput Jain and Associates\u00a0<\/strong><\/a><\/span><\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>E: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The Goods and Services Tax (GST) What&#8217;s the GST Registration System? Under the GST regime, business owners whose turnover exceeds Rs. 40 lakhs* (Rs. 10 lakhs for NE and hill states) are required to be registered as a normal taxable person. This registration procedure is termed the GST registration process. Registration under the GST &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933,172],"tags":[9156,6256,175,333],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2611"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2611"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions"}],"predecessor-version":[{"id":21616,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions\/21616"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}