GST Registration in Rajasthan

Salient features of GST

GST was introduced to plug the gaps in the old tax system. The main features of this new tax system are as follows-

1. Tax on consumption rather than manufacturing.

GST tax has to be paid to the user of goods and services. However, the responsibility of its recovery rests with the person or service provider. This means that when the shopkeeper gives any goods, he will write separately to the GST. Whoever the buyer is will have to pay the entire amount including GST. You might have seen the same in the case of service tax. The service tax is clearly written in the mobile bill separately.

But except in service tax, in all other cases, the buyer did not know how many taxes are levied in a product. Now you know how much total tax is imposed on a product. The government has already fixed the rates for everyone.

2. Tax Credit System

The entire chain is involved in the manufacture of a piece of goods and reach the consumer. Goods are bought and sold many times. Now according to GST rules, every purchase and sale in the supply chain will have to pay fixed tax. So will tax become expensive at all levels? It would have become expensive, if not the Tax Credit System. In this system, every next buyer of the supply chain gets back the tax paid by the seller before him.

In the GST system, there is also a system of getting back the tax where it has been deposited before the tax is levied on Aa Khiri stage. If you are not the last or real consumer and you have deposited GST in any earlier stage, then it will be returned to your account. You can get your GST adjusted through the Tax Credit System while filling GST returns every month. We have explained below with an example what this Tax Credit System is.

3. Tax will not go up on tax.

In the earlier system, not only many different taxes were used, often taxes were also imposed on the tax. Because many goods or services used to fall into two or more types of categories. Now this will not happen. Because now GST has to be paid to the consumer only. If someone has deposited in the middle, then his money is adjusted back from the tax credit system.

4. Complete Online System

There is a special emphasis on Self Monitoring in GST. Information about all deals is to be kept online. Receipt and giver of each transaction is to be held by both. Both will be able to get Tax Credit through their respective receipts. If the deals are not matched anywhere, then online is bound to be caught. The tax chain will not be broken by the responsibility of depositing the GST in the deals with the top businessmen at every stage. Because no businessman would want to lose his tax credit.

5. Not arbitrary on tax rate

Earlier, the state governments used to levy tax on any goods sold here. Its rate also kept its own. Now this will not be possible. The GST Council has been created in the provisions of GST or for any kind of changes in rate. It will be headed by the Union Finance Minister and the Finance Minister of the states will be its member.

The Center will have one-third power to give Vote on any decision, and two-third power will be with the State Governments. The Voting Power of every state will be equal, be it big or small. He will need three quarters of the Council's votes to approve any decision.

If you want any kind of help for GST Registration in Rajasthan and GST Registration in Jaipurif want to grow your business then you can contact us for GST Registration Online. you can call us +91-8690746268 Our business advisor can clear your doubt shortly.

E-startup Rajasthan is a bonafide and reliable Online Portel where you can get all the services for your company like GST, FSSAI, IEC Rgistration, Digital Signature, MSME Registration, ISO Certification, Trademark etc.