GST

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GST

A comprehensive indirect tax levied on the supply of goods and services, streamlining tax collection and compliance.

Required Documents of GST :-

Tax on earnings from individuals or businesses, with services to assist in filing, planning, and ensuring compliance. Expert guidance helps optimize tax obligations and simplify reporting.

  • 1. Business Documents

    For Sole Proprietorship: -PAN Card: PAN card of the proprietor. -Aadhaar Card: Aadhaar card of the proprietor. -Proof of Business Address: Utility bill (electricity/water bill) or rent agreement, and NOC from the landlord if the premises are rented. -Bank Account Statement: Bank account statement or canceled cheque showing the name of the proprietor. For Partnership Firm: -PAN Card: PAN card of the firm and all partners. -Partnership Deed: A copy of the partnership deed. -Aadhaar Card: Aadhaar card of all partners. -Proof of Business Address: Utility bill (electricity/water bill) or rent agreement, and NOC from the landlord if the premises are rented. -Bank Account Statement: Bank account statement or canceled cheque showing the name of the firm. For Limited Liability Partnership (LLP): -PAN Card: PAN card of the LLP. -Certificate of Incorporation: Certificate of Incorporation issued by the Ministry of Corporate Affairs. -LLP Agreement: LLP agreement. -Aadhaar Card: Aadhaar card of all partners. -Proof of Business Address: Utility bill (electricity/water bill) or rent agreement, and NOC from the landlord if the premises are rented. -Bank Account Statement: Bank account statement or canceled cheque showing the name of the LLP. For Private/Public Limited Company: -PAN Card: PAN card of the company. -Certificate of Incorporation: Certificate of Incorporation issued by the Ministry of Corporate Affairs. -Memorandum of Association (MoA) and Articles of Association (AoA): MoA and AoA of the company. -Aadhaar Card: Aadhaar card of the directors. -Proof of Business Address: Utility bill (electricity/water bill) or rent agreement, and NOC from the landlord if the premises are rented. -Bank Account Statement: Bank account statement or canceled cheque showing the name of the company. For Trust/Association of Persons (AOP)/Body of Individuals (BOI): -PAN Card: PAN card of the trust, AOP, or BOI. Registration Certificate: Registration certificate of the trust or society. -Aadhaar Card: Aadhaar card of the managing trustee or key person. -Proof of Business Address: Utility bill (electricity/water bill) or rent agreement, and NOC from the landlord if the premises are rented. -Bank Account Statement: Bank account statement or canceled cheque showing the name of the trust or society.

  • 2. Proof of Business Address

    -Utility Bill: Recent electricity or water bill in the name of the business or landlord. -Rent Agreement: If the premises are rented, include the rent agreement. -NOC from Landlord: No Objection Certificate from the landlord if the premises are rented.

  • 3. Bank Account Documents

    -Bank Account Statement: Recent bank account statement or passbook. -Canceled Cheque: Canceled cheque with the name of the business or proprietor.

  • 4. Identity and Address Proof of Authorized Signatory

    -Identity Proof: Aadhaar card, Passport, Voter ID, or Driving License of the authorized signatory. -Address Proof: Utility bill or bank statement of the authorized signatory.

  • 5. Photograph

    Photograph: Recent passport-sized photograph of the authorized signatory or proprietor.

  • 6. Additional Documents (if applicable)

    Letter of Authorization: Authorization letter from the company or firm if someone other than the proprietor is filing the application. Import/Export Code (IEC): For businesses involved in import/export, the IEC code might be required.

GST: Step-by-Step Guidelines

- Collect Information: Gather all necessary documents including W-2s, 1099s, receipts, and previous tax returns.

- Choose Status: Identify your filing status (e.g., single, married, head of household) based on your personal situation.

Total Income: Compile all sources of income, including wages, interest, dividends, and other earnings.

Claim Deductions: Determine eligible deductions such as mortgage interest, student loan interest, and charitable contributions.

Subtract Deductions: Deduct allowable expenses from your total income to determine taxable income.

Apply Tax Rates: Use the current tax brackets to calculate your tax liability based on your taxable income.

Complete Forms: Fill out the appropriate tax forms (e.g., 1040) and include all necessary schedules and attachments. Submit Return: File your tax return electronically or by mail before the deadline.

Make Payment: If you owe taxes, make payment arrangements or pay the amount due by the deadline.

Check Status: Monitor the status of your refund and address any issues if necessary.

Save Documents: Retain copies of your tax return, supporting documents, and proof of payment for future reference.