Tag: register for GST

  • 16 Best GST Billing Software In India – 2021 | Features & Pricing

    Billing and invoicing are the ultimate stages of closing a transaction in a deal. An invoice is a commercial document that itemizes and records a transaction between a buyer and a seller. Now creating an invoice can be very time-consuming, as one has to write down one’s information and the client’s information, set the currency, indicate the date of the invoice, etc. One needs to make sure that the client’s bills are accurate and generated quickly which again takes a lot of time. So, the process is too lengthy and now to reduce the work, comes the use of the best tool. If you hate invoicing or want to automate the accounting of your business. Then, below we’ve listed the best GST software for billing & accounting to choose from.

    Best GST Billing/Accounting Software:

    How to find the Best GST Billing Software?
    FAQs on GST Billing Software

    List of Best GST Billing Software:

    Zoho Invoice

    Zoho Invoice is an invoicing and online billing software. It is also one of the best free billing software in India. This helps businesses to send automated payment reminders to customers. With Zoho you can create invoices, perform faster payments, and manage projects. Look at the Zoho Product Review.

    Templates In Zoho Invoice

    Features of Zoho Invoice:

    • Customize Your Invoice TemplateThis provides you with fully customizable templates. You can extend the brand from the website to invoices for a professional image.
    • Invoice In Multiple CurrenciesZoho Invoice supports multi-currency. You can bill the customers in the right currency.
    • Communicate In The Customer’s LanguageIt supports 10+ languages. You can Invoice customers in their language for effective communication.
    • Schedule InvoicesZoho helps you in scheduling invoices and automatically sends it to customers on your chosen date.
    • Customize Invoice FieldYou can add more information on invoices with 30+ custom fields.
    • Automate with workflowsYou can set workflows and get things done automatically. An invoice is created for an amount of more than $1000. Set up a workflow to receive an email.

    Zoho Invoice Pricing Plans

    Plans Pricing
    Free Trial Available
    Basic $9 per organization/Month
    Standard $19 per organization/Month
    Professional $29 per organization/Month


    10 Best Billing and Invoicing Software for Your Business
    An invoice is a commercial document that itemizes and records a transactionbetween a buyer and a seller. Now creating an invoice can be verytime-consuming, as one has to write down one’s information and the client’sinformation, set the currency, indicate the date of the invoice, etc. One needsto…


    ProfitBooks

    ProfitBooks is a popular GST accounting software in India. It is a simple and spontaneous accounting software built for growing businesses. This platform has managed to get several businesses.

    GST Billing software
    Manage Your Money With ProfitBooks – Best GST Billing Software

    Using ProfitBooks, you will get to create Invoices, track inventory, manage taxes, and many more. This tool has matured over time and now has a lot of GST-compliant features.

    Features of ProfitBooks:

    ProfitBooks Pricing Plans –

    Plans Pricing
    Professional Plan Rs.5,999/Year
    SMB Plan Rs.8,999/Year
    GST Company Plan Rs.1,999/Month

    QuickBooks

    QuickBooks is a cloud-based accounting solution. This helps to manage expenses, invoices, projects, and more for small to large businesses. It provides a centralized dashboard that enables us to gain insights.

    QuickBooks offers administrations to assign tasks to sales representatives. You can grand access to specific customers and collaborate on projects with the team.

    Dashboard Of QuickBooks – Best GST Billing Software

    Users get to capture digital copies of receipts and sort transactions in the tax category. It helps the managers create custom estimates, maintain recurring payments. And export the generated reports to several formats.

    Features of QuickBooks:

    • Sales overviewThis tool has a sales overview page where you will see your income over time. Also, you can quickly access sales shortcuts.
    • EstimatesYou can create estimates and convert them into invoices that are now easy. You can send estimates using email in a form of documents. However, there is no separate estimate tab. This is something that makes it difficult to view past estimates.
    • Client PortalIt does offer a client portal. This is only for invoices, not for estimates. Users can view, print, save, pay, or ask queries.
    • Bank ReconciliationYou can reconcile bank accounts in QuickBooks and manage a reconciliation report.
    • Accounts PayableWith the plans, you can enter and sort bills easily. Users can create recurring bills. There is a vendor dashboard that shows the total purchase orders, open, overdue, and recently paid bills.
    • ChecksYou can order and print checks directly from the tool itself.

    QuickBook Pricing Plans

    Plans Pricing
    Simple Start $25/Month
    Essential $40/Month
    Plus $70/Month
    Advanced $150/Month

    FreshBooks

    FreshBooks is the biggest name for the invoicing and accounting scene. This was created by Mike McDerment. This tool is supporting over 10 million customers. The company is constantly updating its platform by adding more features. Such as adding user permissions, increasing the number of integrations, and improving navigational issues.

    Billing Software
    FreshBooks Invoicing – Best GST Billing Software

    FreshBooks has stepped out and joined the leagues with other accounting competitors like QuickBooks Online and Wave. FreshBooks is easy to use and has the best customer support. It has a few programs that allow built-in proposals. This software can be good for small businesses.

    Pros of FreshBooks

    • Easy to use
    • Excellent customer service
    • Good mobile apps
    • Well-designed UI
    • Attractive invoice templates
    • Numerous integrations

    Cons of FreshBooks

    • Limited users
    • Expensive monthly cost
    • Limited features

    FreshBooks Pricing Plan

    Plans Pricing
    Lite $15/Month
    Plus $25/Month
    Premium $50/Month

    Tally ERP 9

    Tally ERP 9 is an accounting tool that offers tools to businesses in managing their finances. It can manage many companies in one record. And offer a multi-billing format depending on the service it has. It also supervises the cash flow of business by monitoring payables and receivables.

    Billing Software
    Popular Topics For Tally ERP 9 – Best GST Billing Software

    This provides details of bill payments and records purchases. It also offers you to create customized invoices. The dashboard displays business ratios, while users can access financial reports. It also provides features such as inventory management and HR module.

    Features of Tally ERP 9:

    Tally ERP 9 Pricing Plans –

    Plans Pricing
    Free Trial Available
    Silver $630/Month
    Gold $1,890/Month


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    Vyapar

    Vyapar is a GST billing software. This offers modules for accounting and inventory management for small businesses. This helps you generate GST compliant bills and sharing with customers. It saves bills in the system for future accounting needs. Vyapar helps the GST format bill and invoice to choose from.

    It also contains a tally accounting software format. Vyapar keeps track of stock status in real-time. You can also track inventory quantity and calculate its value with information.

    Features of Vyapar:

    • Quotation – you can generate quotation estimates using this software. You will get to fill your requirements and generate a quote for items. This helps you to convert the estimated need to bills. It makes your business more professional.
    • Order tracking – you can generate and track the sales or purchase orders. This software allows multiple GST sales and purchase order formats. Your business becomes adaptable to the changing vendors.
    • Accounting – you can take full control of the expenditures of the business. You can build a balance sheet to check the efficiency of your business. This software offers you to trace every bill of your business. It records every sale and purchase. It produces tax statements for your transactions.
    • Proof of delivery – This software produces delivery challans and affixes with consignments. It uses delivery challan to generate bills and allows to share among customers and vendors. It supervises acknowledgment documents and checks reviews of customers.

    Vyapar Pricing Plans –

    Plans Pricing
    Mobile Basic Rs.599/- For 15 Months
    Mobile Saver Rs.1399/- For 3 years
    Desktop Basic Rs.1999/-For 15 Months
    Desktop Basic Plus Rs.2499/- For 21 Months
    Desktop Saver Rs.3999/- For 42 Months
    Desktop Lifetime Rs.9999/- For 30 Years

    Invoicely

    Invoicely is a cloud-based invoicing solution for small businesses and freelancers. This tool provides a free plan that offers unlimited invoices. There are already 100,000 customers using this software.

     Best GST Billing Software
    Invoicely Dashboard – Best GST Billing Software

    It brings all the basic functions expected of billing and invoicing. Such as invoice creation, reminders, managing of business accounts, and payment schedules. This software provides easy navigation and operation.

    Features of Invoicely –

    • Most of the free plans usually have limitations to send and receive invoices. But not in Invoicely. Its paid plans are priced are reasonable for more features.
    • This app is easy to use. There is no need to set up. Start by creating an account, add information, assign a URL, and select payment gateway.
    • The software qualities apart from streamlining and billing are to get you paid on time. It gives easy navigation and robust features that translate productivity and efficiency.
    • UI buttons for invoices, dashboards, reports, bills, and settings. This gives you convenient control and view of tasks.

    Invoicely Pricing Plans

    Plans Pricing
    Free Trial Available
    Free Plan Free
    Basic Plan $9.99/Month
    Professional Plan $19.99/Month
    Enterprise Plan 29.99/Month


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    Sleek Bill

    Sleek bill is one of the best GST billing software in India. It is helpful billing software that created invoices. This tool is specially designed for the Indian market. With the sleek interface, you can create and design invoices. It also offers advanced billing features with GST integrations.

    This tool can do GST calculations and backup the data also. The sleek bill will save you time and adapt to the user’s needs. Generate detailed reports and print invoices. This is compatible with small, medium, and large businesses.

    Features of Sleek Bill:

    • Sleek bill helps you with the design of a document that is not provided by any other software
    • The customer’s trust can be boosted with the easy to read invoice templates
    • You can create unlimited purchase orders that can be converted to bills when needed
    • You can also make GST compliant invoices, bill of supply, quote, and much more
    • It provides you smart filters that provide you detailed reports, payment history, and more
    • You can also store your data safely in your PC. It provides backup and restores features also

    Sleek Bill Pricing Plan –

    Plans Pricing
    Free Plan Free
    Offline Premium INR 1,999
    Offline Premium + Inventory INR 3,199
    Online Premium INR 1,999

    ClearTax

    ClearTax is one of the largest tax and financial services software platforms for individuals in India. The software is a big help for tax experts, SMEs, and enterprises with income tax returns. Furthermore, it is also effective while filing GST, e-Invoicing, billing, and more.

    ClearTax serves as connected finances for the Indian taxpayers. The mission of the company is to simplify finances and save money and time for tens of thousands of Indian businesses, businessmen, and other people.

    Features of ClearTax:

    • Powered by cloud-computing
    • Multiple accounts can be integrated easily
    • Invoices can be checked automatically
    • Delivers accurate rates
    • Offers the option to create a master database
    • Helps in easily adding and editing GSTIN
    • Offers the option to add the company’s logo

    ClearTax Pricing Plans –

    ClearTax offers two separate kinds of pricing plans for individuals and self-employed or professionals. Here they are:

    Individuals:

    Plans Pricing
    Salary/House Rent Income Rs 799
    Salary/House Rent Income (Premium) Rs 1499
    Capital Gains Income Rs 2999
    Foreign Income Rs 4999

    Self-Employed and Professionals:

    Plans Pricing
    Professionals and Freelancers Rs 2999
    Security Traders Rs 6999
    Business Rs 6999

    Gen GST

    Gen GST software is a complete GST solution, designed and developed both for desktop and online purposes by SAG Infotech Private Limited. The software helps in filling unlimited returns for unlimited clients.  

    Gen GST can be downloaded by anyone for free or they might also choose to use the GST SaaS service and work on the cloud-powered platform, which is accessible anytime anywhere and provides assistance for GST billing, e-filing & E-way bill purposes to small businesses, and other individuals in India without any hassles.

    Features of Gen GST:

    • Offers integrated e-invoices.
    • Available for desktop as well as online users.
    • Updated with the all-new QRMP scheme feature.
    • Generates invoices for regular and RCM (Reverse Charge Mechanism) dealers.
    • Needs just a single click for the users to pay taxes online.
    • Allows unlimited client e-filing with DSC/EVC (GSTR 1, 3B, 4, 9, 9A, 9c, and more).
    • Helps in easy generation of GST E-Way bill.

    Gen GST Pricing Plans

    Product Installation Pricing Updation Pricing Annually
    Gen GST Desktop Software for E-filing Rs 5000 Rs 2000
    Gen GST Combo (Desktop) for E-Filing, E-Invoicing & E-waybill Rs. 10000 Rs 4000
    Gen E-Invoice (Desktop) Rs 5000 Rs 2000
    Gen E-way Bill (Desktop) Rs 5000 Rs 2000
    Gen E-way Bill and Gen E-Invoice Rs 7000 Rs 3000


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    Busy Accounting Software

    Busy Accounting software is one of the most effective and powerful solutions available in the market for businesses to manage their accounting, inventory, GST billing, e-invoicing, e-way billing requirements, and more!

    Features of Busy:

    • Simple and convenient to use.
    • Flexible and designed to suit diverse business needs.
    • Scalable as per the requirements of the business.
    • Offers in-built GSP features like auto e-way bill, GSTR-2A, E-Invoicing, and more.
    • Offers advanced inventory management.
    • Brings in invoicing solutions that are completely configurable.
    • Also offers an interactive mobile app.

    Busy Accounting Pricing Plan:

    Plans Pricing
    Basic to Standard Rs 7434
    Basic Rs 10620
    Standard Rs 15930
    Busy Infotech Multiuser Rs 33453

    MARG GST Software

    Marg GST software offers a complete GST solution from billing to return filing. This software helps the users create full invoices in GST format and manage all their finances even if they are devoid of deep accounting knowledge. Therefore, with the Marg GST software, both the individuals and the company can reduce the burden of taxes and compliance and continue focusing on running the business.

    Features of MARG GST Software:

    • Faster GST invoices and billing experience
    • Effective accounting experience
    • Offers faster e-invoicing
    • Generates e-way bills without hassles
    • Helps in internal audit
    • Helps in online banking
    • Simplifies digital payments

    MARG GST Software Pricing Plans:

    India and Southeast Asia –

    Plans Pricing
    Basic Edition Rs 8,100
    Silver Edition Rs 12,600
    Gold Edition Rs 25,200

    Other Countries –

    Plans Pricing
    Basic Edition $350
    Silver Edition $600
    Gold Edition $1150

    Go GST

    Go GST is billed as an easy, online, and free lifetime GST software for businesses and individuals. Specially designed for the Indian markets, Go GST is updated with the latest GST changes of the country.

    Features of Go GST:

    • Compliant with the new GST rules and regulations
    • Offers a single-click way to create unlimited products and manage all stocks
    • Offers easy interface to create GST-compliant quotations and proforma invoice
    • Brings in a range of templates and professional designs to create credit and debit notes
    • Recording and tracking of payments made easy with Go GST
    • Offers easy ways to create staff accounts with limited permission

    Go GST Pricing Plans:

    Go GST has two pricing plans –

    • Lifetime Free Plan – This is free for a lifetime, as true as it sounds.
    • Premium Plan – The Premium Plan of Go GST involves a yearly subscription of Rs 1499, inclusive of GST.

    Easy GST

    One of the best billing, accounting, and tax management software in India, Easy GST is GST-ready free accounting software that can help users manage their accounting, inventory, payroll, billing needs, and more. Easy GST software is known for the powerful and easy-to-use accounting features to suit the needs of the users and get complete control of their financials.

    Features of Easy GST –

    • Helps to create invoices without worries
    • Offers effective ways to file GST returns easily
    • Supervises the workforce for Human Resource Management (HRM) solutions
    • Supports international traditional with accurate forex conversions
    • Helps in managing sales-related work empowering Customer Relationship Management (CRM)
    • Enables the users to handle projects separately

    Easy GST Pricing Plans –

    Plans Pricing
    Starter Rs 944
    Intermediate Rs 1180
    Professional Rs 1416
    1 to 25 Companies Rs 5900

    GSTrobo

    GSTrobo emerges as one of the best solutions for technological challenges making GST e-invoice creation, return filing, comparison reports, reconciliation, ledger balances, tax payments a breeze. The web platform of GSTrobo helps the taxpayers to start with GST-compliant e-filing even with little or no knowledge with the help of a quick, secure, and user-friendly platform that it offers.

    GSTrobo Features:

    • Makes 100% GST-compliant invoicing possible
    • Offers smart reporting with interactive dashboard and MIS tools
    • Offers cloud support
    • Enables easy e-way billing operations with ERP integration and the help of a powerful mobile app
    • Brings in easy operations with the help of customized data exchange formats via a mapping tool.
    • Offers advanced ITC Reconciliation Tool

    GSTrobo Pricing Plans –

    GSTrobo offers their invoicing software that is available for multiple users at Rs 3,000 per year.


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    Billing Software India

    If you are looking for easy and powerful GST billing software, then Billing Software India is your answer. It is one of the most powerful software that facilitates easy GST billing options for small businesses, wholesalers, retailers, service providers, and other individuals.

    Billing Software India Features:

    • Offers effective offline desktop application
    • Makes printing multi-sized invoices easier
    • Comes with a barcode scanner for quick billing
    • Makes invoice generation easy with a single click
    • Helps create GST-compliant tax invoices
    • Helps managing client accounts a breeze

    Billing Software India Pricing Plans –

    • Free Edition – Billing Software India comes in a free edition that you can use but that will not comes with an android app nor with some of the advanced features that you might require from time to time.
    • Business Edition – The business edition of the software is a premium edition that comes for Rs 8,000 and which is available at Rs 4,000 on a limited period offer.

    How to find the Best GST Billing Software?

    As every business is different. Everyone has different expectations from the accounting software. But you should check the given points:

    • If the software includes required payroll needs
    • Does the system track available stock, orders, work in progress, and other tasks
    • Check whether there is an option to manage more than one bank account
    • If the software manages foreign exchange
    • There should also be a system to keep records of various departments under one unit
    • The system should provide you an online platform for different activities such as verifying records and online payments
    • If the system manages the record of what customers buy, how much and the tax charged, etc.

    FAQs on GST Billing Software

    Which software is best for GST billing?

    Compiled list of 8 Best GST Billing Software –

    • Zoho Invoice
    • ProfitBooks
    • QuickBooks
    • FreshBooks
    • Tally ERP 9
    • Vyapar
    • Invoicely
    • Sleek Bill

    Is there any free GST billing software?

    Free GST Billing Software are –

    • Invoicely
    • Sleek Bill
    • Zoho Invoice (Free Trial)
    • Vyapar Mobile App (Basic Version)
    • Tally ERP 9 (Free Trial) etc.,

    Conclusion

    Having a business was never an easy task in India. But because of GST, you can start a new business very easily. You don’t need to apply taxes on total value but on just added value. This process gets easier with GST billing software. The businesses with GST registered need to provide GST compliant invoices to the clients.

    There is various software available to get all functionalities. You can find several GST billing software free versions online. It all depends on your budget to decide which software will suit your business.

  • How To Register For GST online | A Complete Guide For GST Registration Process Online

    If a seller wants to sell across India they need to register for GST. The GST is meant to replace a slew of indirect taxes with a federated tax. In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. The registration process is entirely paperless which means that it will take place online or digitally. Registering for a GST might seem confusing but just follow our Step by Step guide on how to register for GST online easily.

    How to Register For GST Online
    To Register For GST Online
    Documents Required To register For GST Online
    Steps To Register For GST Online
    Frequently Asked Questions About Online GST Registration

    How to Register For GST Online

    To Register For GST Online

    There are two parts in registering for GST online,

    Part A – Generate your GST Application form

    Part B – Filling in your GST Application form

    Documents Required To register For GST Online

    • PAN of the Applicant
    • Aadhaar card  
    • Proof of business registration or Incorporation certificate
    • Identity and Address proof of Promoters/Director with Photographs
    • Address proof of the place of business
    • Bank Account statement/Cancelled cheque
    • Digital Signature
    • Letter of Authorization/Board Resolution for Authorized Signatory

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    Steps To Register For GST Online

    Part 1: Generate Your GST Application Form

    First you need to visit official GST portal – https://www.gst.gov.in/ and under the services tab, choose Services > Registration > New Registration.

    On the registration page, enter all the requested details (including your PAN number), email address and mobile number. You need to select the option I am a Taxpayer.

    How To Register For GST Online - Step 1
    How To Register For GST Online – Step 1

    After entering the details click proceed. After that you’ll receive two different OTP on your phone and Email id for verifying the mobile number and the email id. OTP is valid only for 10 minutes. Enter the Received  OTP and click proceed.

    Once you click proceed your Temporary Reference number will be generated. Save and copy your TRN number it will be used for further filling of the form.

    This was the complete Part A of Registering for GST online. If you want some Help with tax preparation and planning, do read it.

    Now to use this TRN number, either click Proceed or Services > Registration > New Registration option and select the Temporary Reference Number (TRN).

    Enter your TRN number and the captcha text as shown on your screen. Click proceed and you will be asked to verify OTP again. (This is different from the previous OTP generated), Same OTP will be received on your phone and email id.

    Part 2: Filling Your Online GST Application Form

    Now click on action button on top right to start filling your GST application form.

    How To Register For GST Online - Step 2
    Filling in your GST application form

    The form contains 9 sections,

    Your Business Details

    Enter the details of your business. Enter the name of your shop under the Trade name and enter the constitution of business, private limited or partnership etc.

    How To Register For GST Online - Step 1
    Providing Business Details

    After you complete your registration click on save and continue to proceed further.

    Personal Information

    Enter the Required personal information and identity information. In identity information under designation, Add the designation of yourself. Suppose if you are proprietor add proprietor under that.

    How To Register For GST Online
    Providing Personal Information

    After you add all the details you have to upload your photograph, which should be in jpeg format of size maximum up to 100kb.

    Authorized Signatory

    If you are the proprietor of the company just click on primary authorized signatory and proceed further. If you are not the proprietor of the company then fill in the details of the proprietor of your company.

    Authorized Representative

    If you have an Authorized representative you have to fill in the details of your representative or else Click on save and continue to proceed further.


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    Principal Place of Business

    Here, You have to add the details where your business is located, if your business is in Delhi then add the location details of your business.

    How To Register For GST Online - Step 1
    Principal place of Business

    You also have to add nature of your business. Under the nature of possession of premises add the type of your business and provide the document proof of place of business. Suppose you have a Rented business so click on rented and provide the proof of rented agreement such as electricity bill.

    Also add the nature of business activity and click on save and continue to proceed further.

    How To Register For GST Online
    Nature of possession 

    Additional Places of Business

    If you have Additional places of business you can Add it or click on continue to proceed further.

    Goods And Services

    Here you have to add if you are selling goods or services. If you are selling physical goods add the HSN code. (HSN is a six-digit code that classifies more than 5000 products, arranged in a legal and logical structure)

    State Specific Information

    Providing this information is up to you because it is not mandatory. Click on save and continue to proceed further.

    How To Register For GST Online
    State Specific Information

    Final Verification

    This is the final step of GST form. Once you fill the details you can choose to submit with EVC or DVC. If you select EVC you’ll receive same OTP on your mobile no. and email id. If you have a digital signature you can submit with DVC.

    How To Register For GST Online
    Verification

    On completion, an Application Reference Number (ARN) will be generated and sent to your mobile number and email id. You can use this to track your application status (Services > Registration > Track Application).

    This was the complete how to register for GST online step by step.

    Frequently Asked Questions About Online GST Registration

    How do I get a new GST number?

    • Go to the official GST portal – https://www.gst.gov.in/ and under the services tab, choose services > Registration > New Registration.
    • On the Registration page, enter all the requested details (including your PAN number), email address and mobile number.
    • After entering the details, click proceed. You will receive two different OTPs on your mobile and on your email for verifying the mobile number and the email id. OTP is valid only for 10 minutes. If required, you can regenerate the OTP.
      Your Temporary Reference number will be generated at the end of this process.
    • To use this number, either click Proceed or Services > Registration > New Registration option and select the Temporary Reference Number (TRN) radio button to login using the TRN.
    • In the Temporary Reference Number (TRN) field, enter the TRN generated and enter the captcha text as shown on the screen.
    • After this, you will be asked to verify OTP again. This is different from the previous OTP generated, please enter the new OTP received. The same OTP will be received on the verified mobile number and email id.
    • This will take you to your “My Saved Application” page. You will have to fill in all the form details and submit them within 15 days. After this, your number and saved form will be deleted.

    Is GST registration free?

    The GST registration is absolutely free of cost. The registration process is entirely paperless which means that it will take place online or digitally. Registering for a GST might seem confusing but just follow our Step by Step guide on how to register for GST online easily.

    Is GST applicable for online business?

    It is a mandatory GST Registration for all Online Sellers. Under GST, all online sellers must register and pay GST. This means that even if you only bring in Rs 1 lakh, you must go online and get a GSTIN. In addition, you’re required to file monthly returns and pay taxes on all qualified sales.

    How do I file GST online?

    Registering for a GST might seem confusing but just follow our Step by Step guide on how to register for GST online easily.

    1. Go to the official GST portal – https://www.gst.gov.in/ and under the services tab, choose services > Registration > New Registration. You can also apply for GST online using our exclusive offer for Amazon by clicking here.
    2. On the Registration page, enter all the requested details (including your PAN number), email address and mobile number.
    3. After entering the details, click proceed. You will receive two different OTPs on your mobile and on your email for verifying the mobile number and the email id. OTP is valid only for 10 minutes. If required, you can regenerate the OTP.
      Your Temporary Reference number will be generated at the end of this process.
    4. To use this number, either click Proceed or Services > Registration > New Registration option and select the Temporary Reference Number (TRN) radio button to login using the TRN.
    5. In the Temporary Reference Number (TRN) field, enter the TRN generated and enter the captcha text as shown on the screen.
    6. After this you will be asked to verify OTP again. This is different from the previous OTP generated, please enter the new OTP received. The same OTP will be received on the verified mobile number and email id.
    7. This will take you to your “My Saved Application” page. You will have to fill in all the form details and submit them within 15 days. After this, your number and saved form will be deleted.

    Can I sell on Amazon without GST?

    Yes. if you are selling only GST exempted categories, then this may not be required. However, If you are listing taxable goods, GST details are required to sell online. You need to provide a GST number to Amazon at the time of registration.

    Do I need a GST number for my small business in India?

    If a seller wants to sell across India they need to register for GST. The GST is meant to replace a slew of indirect taxes with a federated tax. In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person.

    What is EVC in GST?

    In the GST portal, a person can authenticate the user using an OTP (One Time Password). The OTP is called the Electronic Verification Code (EVC) and a person who wants to do the user authentication using an OTP can select this method.

    What are the documents required for GST registration?

    To complete GST registration, you will be needing the documents like PAN, Aadhaar, business address proof, cancelled cheque, bank account statement, business registration proof or the incorporation certificate, digital signature, photograph, address proof and ID proof of the director or promoter, board resolution or letter of authorisation from the authorised signatory.


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  • How to Register a Business in India

    The 21st century is the century of startups and new rising companies. If you too want to start something of your own, something different and promising but don’t know how to put it up in front of the world in a legal way or you are too intimidated by the modus operandi here’s something for you that can help you start your venture of business and money-making.

    Some Fundamentals of Registering your Business in India

    Checklist for Business
    Checklist for Business

    Before going for the legal authentication part make sure you have done some profound research on the market you are going to step in, build a product that fits the demand of the people, and have an easy yet noteworthy name for your brand so that your registration process goes as smooth as it can be. You simply can’t build a business if you don’t have the exact idea of what you are going to present in front of the world. Make sure you are confident enough to start sailing in the ocean of marketing.

    Registering your business offline could be a complicated and greasy process. It is far better to do it online and it gives more transparency on how the systems work. Here are certain procedures that have been broken down into simple steps to help you register your business in India.

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    Visit the Website of the Ministry of Corporate Affairs

    When you start the process of registration, first of all, you need to visit the government website of the Ministry of Corporate Affairs (MCA). There you will need to find two forms, one of them is named DIR-3-KYC and the other as DSC (Digital Signature Certificate). You need to fill out these two forms first then apply for the DIN i.e. Director Identification Number.

    Register Business in India-Required Documents
    Documents to be submitted

    While filling out both of the forms you need to have certain documents handy as they have to be submitted along with both of the forms. These documents include proof of address, educational qualification, current occupation, passport. Along with all these documents you also need to send some passport size photographs.

    After filling out these forms you will have to register for the Digital Signature Certificate, also known as DSC without which you won’t be able to apply for the company registration in the online mode. For this, you also need those same documents which include proof of address, educational qualifications, current occupation certificate, passport, and passport size photographs.

    File an Application

    Once you are done with the previously mentioned forms, prepare an application. In this part, you will have to fill up the 1A form electronically. This process officially performs the registration of the name that you want to give to your company. You cannot just give a name that you think is suitable for your business. Here you will have to send a list of at least four names out of which one will be selected by the RoC based on their availability and whether they are appropriate. It is normally better to give more than 5 names as you will have more chances for your application not to get denied.

    The RoC (Registrar of Companies) might take up to 2 days to respond. In this process, you will have to pay a fee of Rs. 500. Once the RoC approves the name that you have provided, the registration of the company must be done within 6 months of approval. If not done within the period, the whole process of registration has to start all over again.

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    Draft the MoA and AoA

    The last step of registration includes the drafting of the Memorandum of Associations (MoA) and the Articles of Association (AoA). As these are two legal forms, these need to be dealt with carefully where you might take help from Lawyers while filling out the forms. The MoA provides a list of the different agendas of the company while the AoA lists out the details of the Company’s operation and its management. Both the Documents need to be compulsorily signed and attested by a minimum of two people from the company with a person being the witness of the whole drafting process.

    Drafting Documents for registering business in India
    Draft MoA and AoA

    After doing so these documents are to be sent to the RoC for the verification process. After the documents get approved by the authority, a print out must be taken out so that you can get them validated. Then you can attach these documents along with all other documents necessary for the registration of your business.

    With all of the above documents attached, you can now apply for the registration of your company by submitting the documents to the RoC. You have to register your company in the state where you will be performing your business. Then you will be provided with a certificate of Incorporation from the RoC which is the legal Certificate that declares the business to be legal and to be your own. This means that your business is registered and you can simply start conducting your business.

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    What after Registration?

    After the successful registration of your new Business, there is another additional step that you must do before starting your business. You must apply for a GST number, which when registered will complete the whole process of your company’s registration.

    This must have given you the basic idea of how to register your business in the smoothest way possible. Though there might be some extra procedures involved, depending on your location and the type of business you want to run, it is always better to get started as soon as you can.

    Conclusion

    Registering a business in India is not that complicated as it may feel. You just need to have some knowledge before getting down on the platform. The procedures set by the government for a successful registration is a quick and sorted process which makes it easy for a new company to start and run without much complications. After you are done with registering your business in India, it is now time to make it prominent and successful. There is one small piece of advice that you may need before you start your business venture is that no matter how challenging and exhausting the market makes you feel if you can make it better for the customers, you will surely succeed in your business. Keep your hopes high and your visions clear.

    FAQs for Registering your business in India

    How to register a foreign company in India?

    A foreign company can establish its business in India by filling out the FC-1 e-form. A digital signature of the official representative is needed whiling filling out the form electronically. There is no need to apply and obtain the DIN for the Directors of the foreign company.

    What is the objective of small business registration in India?

    Regardless of the type of business you want to run, you will always have to register your business officially. The reason being that a certain business transaction must follow specific rules and guidelines for being legal in India. Registering the business declares the company to be yours, secures the name of your company, and gives you the authenticity to take any legal actions whenever necessary.

    Can I get a registration number for my business?

    On applying for registration you will be given a recognition number for your business. This number will be provided to you once there is complete verification of your documents.

    How long does it take to start a business in India?

    It normally takes two to three weeks to complete the registration process and you can start your business in India within a short span. After you are provided with a legal recognition certificate for your business, the Indian Director can help you with opening a bank account in the company name.

    How to choose a company name?

    It is better to search for a name that is simple, easy to pronounce, and is relevant to your business. You can always take help from the internet. The RoC may expect you to follow some naming guidelines while naming your company.

  • GST Guide: Introduction, Compliance, Updates and Many More

    Goods and Services Tax(GST) has been introduced and implemented in India to reduce the anomalies caused by the previous tax system. GST, or Goods and Services Tax is a tax that customers have to pay when they purchase any goods or services, such as food, clothes, electronics, items of daily needs, transportation, travel, etc.

    The concept of Goods and Services Tax is that it is an Indirect Tax, i.e., this tax is not directly paid by consumers to the government, but is rather levied on the manufacturer or paid by the production centres and the providers of services. The sellers add the tax expense into their costs, and the price the buyers pay is inclusive of GST. Therefore, in most cases, people end up paying a tax even if they are not an income taxpayer.

    GST Guide

    GST is levied on the basis of the destination principle. Exports would be zero-rated, and imports would attract tax in the same way as domestic goods and services.

    Addition to the IGST in respect of the supply of goods, an additional tax of up to 1% has been proposed to be levied by the central government. The revenue from this tax system is to be assigned to the original states. It is proposed to be levied for the first two years or for a longer period, recommended by the GST Council.

    It is predicted that the tax base will be comprehensive, as virtually all goods and services will be taxable, with minimum exemptions. GST would bring in a modern tax system to ensure efficient as well as effective tax administration. It will bring greater transparency and strengthen monitoring, thus making tax evasion difficult.

    It is important for the industry to understand the impact and opportunities offered by this tax reform. GST will have effects on all industries, irrespective of the sector. It will impact the entire value chain of operations, manufacturing, distribution, warehousing, sales and pricing.

    Component analysis of GST Gross Collection
    Component analysis of GST Gross Collection

    Items outside the purview of GST

    There is a set of items which are not covered by GST. The following items are:

    • Alcohol for human consumption is not covered under GST. On alcohol, the authority to tax remains with the states.
    • GST was not imposed on five petroleum products like crude oil, diesel, petrol, natural gas and ATF.
    • The Central Government, along with GST has the power to levy additional excise duty on tobacco products.
    • The authority to decide entertainment tax levied by local bodies remains with the states.
    • Even Electricity is out of the purview of GST.

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    GST Compliance Rating

    The GST compliance rating is a rating given by the government to a business so that other businesses can review how compliant they are with the government tax department. This score will be calculated based on parameters such as timely filing of monthly and annual returns, furnishing details of input credits used, taxes paid, etc.

    These scores will be updated at periodic intervals, and their details will be published in a public domain that all businesses can access. This allows small businesses to choose the most GST-compliant vendor for their business endeavours.

    Under the previous tax system, businesses often delayed filing return and payment of taxes to gain time. Continuing this practice under GST will result in a delay in input tax credit across the chain and severely affect the working capital of businesses. The rating system will prevent the delay of credit for buyers due to the non-compliance of certain persons.

    The Impact of GST on the Indian Economy

    Following are the ways in which GST has a positive impact and will help improve the economy of India.

    Reducing in tax burden for manufacturers which will encourage quality and more productivity. The earlier system of taxation was ill-structured with a magnitude of tax clauses which prevented the manufacturers from providing optimum production, hindering growth. However, GST after implementation will relieve manufacturers from those problems by issuing tax credit to manufacturers.

    All the various tax difficulties that prevailed such as long queues at check posts and toll plazas, resulted in wastage of products which were being transported. A single GST taxation system will surpass all these hurdles and prevent unnecessary wastage which caused huge losses in costs for supplies.

    A common consumer will know how much taxes they are charged and on what grounds, which will pave way for a just and transparent tax system.

    The extension in the tax base under GST will be compounded to the revenue of the government.

    When the taxes are paid by producers for the supply of goods or services, GST will provide a tax credit. This feature will encourage producers in purchasing the raw materials from any of the registered dealers which will eventually gather all the vendors and suppliers under the GST roof.

    Customs duties which were applicable to the export of items will be removed and it will increase the competitiveness of the exporters to be at par with foreign markets.


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    Benefits of GST

    GST eliminates the cascading effect

    GST is an indirect tax that was designed to bring indirect taxation under one roof. More significantly, it is going to eliminate the cascading effect of tax that was evident earlier.

    Composition scheme for small businesses

    Under GST, small businesses (with a turnover of around Rs 20 to 75 lakhs) can benefit as it gives an option to lower taxes by using the Composition scheme. This step has brought down the tax and compliance burden on many small businesses.

    The unorganized sector is regulated under GST

    In the pre-GST period, it was often seen that certain industries in India like construction and textile were largely unregulated and unorganized.

    However, under GST, there are provisions for online compliances and payments, and for availing of input credit only when the supplier has accepted the amount. This has brought in accountability and regulation to the businesses.

    Higher threshold for registration

    In the VAT system, any business with a turnover of more than Rs 5 lakh was liable to pay VAT. Also, note that this limit differed state wise. Under the GST regime, this threshold has been increased to Rs 20 lakh, which exempts many small businesses and service providers.

    Wrap Up

    Change is necessary but definitely never easy. The government is trying to smoothen the path to GST. It is important to take a leaf from global economies that have implemented GST before us, and who overcame the teething troubles to experience the advantages of having a unified tax system and easy input credits.