GST Registration In Delhi | Procedure | Documents Required

GST registration is mandatory for all entities involved in the buying or selling or providing of services in India. Our experienced Chartered Accountants are offering GST Registration In Delhi, Bangalore, Pune, and in all other states of India.

GST (Goods and Service Tax) is a tax levied when a consumer buys goods or services. The main aim of introducing GST is to bring all the taxes into a single umbrella. This bill helps to eliminate the cascading effect of taxes on production, distribution prices on goods & services. Goods & service tax refers to the indirect tax which replaces taxes levied by the central & state government. Do refer GST rules and guidelines that you should follow to stay compliant

CA in Delhi is the leading business services platform in India, where you can find various Chartered Accountants to avail services like income tax filing, GST return filing, private limited company registration, trademark filing, and more. CA In Delhi can also help you obtain GST registration in Delhi, Bangalore, Pune, and in all other states of India at a mere Rs. 1,999/- and maintain GST compliance The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission.

Procedure For GST Registration:

Whether you do GST Registration in Delhi, Pune, Bangalore, or any state of India, the procedure remains the same. Below mentioned is the three-step procedure by which your business gets registered.

GST Documents Preparation Preparation: A Chartered Accountant will help you prepare documents necessary for GST Registration. You can choose a Chartered Accountant from the list of highly qualified Chartered Accountants on CA in Delhi’s homepage.
GST Application Filing: Once the documents are ready, your Chartered Accountant will file your application online and provide you ARN number immediately.
GST Registration Certificate: Once the GST application and the attached supporting documents are verified by the Officer, GSTIN and GST Certificate is provided.

Documents Required For GST Registration:

1) PAN Card of the Business or Applicant

GSTIN is linked to the PAN of the business. Hence, PAN is required to obtain a GST certificate.

2) Identity and Address Proof of Promoters

Identity proof and address proof documents like PAN, passport, driving license, aadhaar card, or voter identity card must be submitted for all the promoters.

3) Business Registration Document

Proof of business registration like incorporation certificate or partnership deed or registration certificate must be submitted for all types of registered entities.

4) Address Proof for Place of Business

Documents like rental agreement or sale deed along with copies of electricity bill or latest property tax receipt or municipal khata copy must be submitted for the address mentioned in the GST application.

5) Bank Account Proof

A scanned copy of the first page of bank passbook showing a few transactions and the address of the business must be submitted for the bank account mentioned in the registration application.

6) Digital Signature

Class 2 or class 3 digital signature is required for the authorized signatory to sign and submit the GST application. In the case of a proprietorship, there is no requirement for a digital signature.

To get full details of the document based on your business type, visit Documents Required For GST Registration

Advantages

Legally recognized as suppliers of goods or services
Tax paid on the input goods or services which can be utilized for payment of GST, i.e., ITC allowed to registered persons.
Legally authorized to collect tax from his purchasers
Eligible to avail various other benefits and privileges rendered under the GST laws.

Penalties for not Completing GST Registration:

Offenders who do not pay tax or fail to make the full payment will face a penalty of 10% of the tax amount. The minimum amount of the fine will be Rs.10, 000 if the 10% amounts to anything less. In case of deliberate tax evasions, offenders will be charged a penalty of 100% of the tax amount. The penalty will be 10% of the tax due in case of genuine errors.

Persons not required to obtain GST

An agriculturist, to the extent of supply of produce out of cultivation of land
A person making supplies of goods or services that are not liable to tax under GST or wholly exempt under GST.
Individual advocates (including senior advocates)
Individual sponsorship service providers (including players)

Hire Chartered Accountant For GST Registration In Delhi, Bangalore, Pune, or any state in India: You can hire a Chartered Accountant from a list of highly qualified Chartered Accountants on CA In Delhi’s homepage

ACTIVE Form by MCA – INC 22A Active Form – India

All Registered Companies Are Required to Submit ACTIVE Form

Are you aware of the recent notification from the MCA about ACTIVE Form yet? If not, you will definitely thank us to inform you and saving you from paying penalties. This mailer will guide tell you all about the recent notification from the government on ACTIVE Form

What is an ACTIVE Form?

ACTIVE (Active Company Tagging Identities and Verification) is an attempt by the Ministry of Corporate Affairs in order to identify the ACTIVE Companies and to verify their registered office and eliminate shell companies

What is the deadline for submitting the ACTIVE Form

The last date to submit ACTIVE form is 25th April, 2019.

When did this notification come?

The notification was published by the MCA’s website on February 21, 2019, as per section 469 (1) and (2)

What if I don’t submit the ACTIVE Form?

A penalty will be charged from those companies who will file this form after the due date and the amount of penalty is Rs.10,000.- as per the ‘Companies(Registration offices and Fees) Amendment Rules, 2019′

AND

TAG OF ‘ACTIVE NON-COMPLIANT COMPANY’The company will be marked with “ACTIVE – Non-compliant” at the portal of MINISTRY OF CORPORATE AFFAIRS and due to this, the company will not be allowed to carry on some transactions such as:

Change in Authorised Capital
Change in Paid-up Capital
Changes in Director Accept Cessation,
Change in Registered Office.
Amalgamation, De-merger

Documents Required for ACTIVE Form

Longitude & Latitude of the address of Registered Office
Photograph of Registered office showing external building and inside office showing at least One Director/KMP who is signing this form.
E-Mail address of the Company (which will be verified by an OTP)
List of all Directors with the requirement of active Status on MCA Portal
SRN of AOC-4/XBRL and MGT-7 of FY-2017-18

Liability of professional for the wrong certification

It’s also a responsibility of a professional to ensure correctness and accuracy of the details mentioned in the form in relation to the registered office of the company. Failure to do so can make a professional liable for a penalty up to Rs 50 Lacs as per section 447, 448, and 449 of the Companies Act, 2013

Who can help me file ACTIVE Form

You can search from a list of Chartered Accountants mentioned at CA in Delhi ‘s homepage or can directly contact at 9711430728

Should I Invest In Bitcoin Or Not

Should I Invest in bitcoin: All About Blockchain and Cryptocurrency

Invest in bitcoin -Blockchain is the future of finance. Blockchain is a revolution. Blockchain will disrupt the industries and sectors.
Wow, awesome! But, what is it that is causing such crazy hype?! Is Invest In Bitcoin, Blockchain or Bitcoin safe? Let’s understand the basic terms first. invest in bitcoin

Blockchain is a technology that facilitates the functioning of cryptocurrencies. It is a type of distributed ledger, where records can be stored and organized into blocks. That means there is no central authority maintaining the ledger, and data is maintained by a group of peers.
It is understood that Blockchain can remove the intermediaries and foster an environment of trust and transparency due to distributed ledger mechanism.

Cryptocurrency is a digital currency stored in the blockchain.

Bitcoin is the most popular cryptocurrency for which blockchain technology was invented.
Now the question arises that, should I invest in Bitcoin or not? This article will answer all your questions

Are Blockchain and Bitcoin scams? Is it safe to Invest in Bitcoin?

There are two parts here: Blockchain technology and Bitcoin.

Blockchain technology is amazing. It can change the way the industries work. It is transparent, accurate, distributed, permanent, and cheap. It can have positive applications in banks, financial institutions, voting, the automotive industry, healthcare, etc. However, there are no existing regulations that govern this technology.

The other is Bitcoin. The world is going gaga over Bitcoin and its value. Its price touched around the $17,549 mark. People are buying Bitcoins in a hope that it will surge further. They also don’t want to miss out on an opportunity to make money. So, Bitcoin has become a tradeable instrument offering lucrative returns.

But, let’s not forget, with high returns, come high risks. Stock markets too have witnessed such surges disguised as scams. All the gold rush ends one day. Before you mark Bitcoin safe, let’s walk around some risks attached that might stop you to invest in bitcoin

What looks risky in Bitcoins?

Volatility: Volatilities exist in stock markets too, but are much higher in Bitcoins. Anything that goes up comes down. Someone who bought the majority of Bitcoins since inception will surely dump it to someone. What if you are the one?

Regulations: The stock market can still boast about having regulators (like SEC in the US, SEBI in India, etc.) to protect the interests of consumers, but what does Bitcoin have? If the prices of Bitcoin crash, who will you claim your money from? It is better to wait for the governments to adopt this technology and set some rules and regulations to protect the interests of people trading in this currency.

IT Risk: This is merely a code, and can be hacked. If someone gets access to your public key, you may end up losing your ownership. Again, there is no regulator to protect your interest.

Money Laundering: Owing to the anonymity of these transactions, it is also likely to be used by criminals for money laundering. There are no taxes involved. If the government decides to ban it, its value can crash terribly.

These Bitcoins very much resemble stock markets. Let’s walk around the traits of scams that have rocked the stock market.

What do the scams look like?

The scammers can organize a scam in such a systematic and polished manner that it may be hard to unwrap the truth. The market you the garden of flowers, but little do you know that there is a crematory right under it.

One of the most popular stock schemes is called “pump and dump.” Here’s how it works. invest in bitcoin

A group of crooks buys up a block of stock in a little-known company, preferably one that has a semi-exciting technology name. They advertise it massively and begin flooding cyberspace with false rumors about how this company has some breakthrough technology or just signed a super deal.

They may even develop phony letterhead and send out press releases about the company, and carry out every such thing that lures people into buying that stock.

With more and more people buying the stock, the price of the stock starts increasing and the crooks’ smile starts widening.

After the stock price goes up, the crooks finally decide to dump the stock and book fat profit. When they sell, the price stumbles steeply and all the people they conned into buying lose money heavily.

The game is not over yet. Sometimes crooks themselves short that stock then hops on the Internet and spread lies about how the company is in trouble or about to face some criminal proceeding. When the stock drops, the short-sellers cover their positions for a big profit. Scam happened. Crooks won, gullible people, lost.

Schemes come in various forms to extract money from your pocket. They all have one thing in common: very high returns. The sad truth is that many people fall for these schemes because their greed overcomes their reason. Don’t let this happen to you

Famous Scams in History invest in bitcoin

Jordan Belfort (Stratton Oakmont)
The Wolf of Wall Street. Stratton Oakmont was a typical pump-and-dump firm in the 90s, where brokers would drive up the price of stocks and then Belfort and his partners would cash out causing the stock to plummet in value. He hired hundreds of ambitious brokers to cold call unsuspecting people, selling worthless stocks. In 1998, Belfort was indicted for securities fraud and money laundering.

Charles Ponzi
The term “Ponzi scheme” is named after Charles Ponzi’s famous pyramid scheme. Ponzi infamously promised returns of 50% in 45 days, which were paid with funds from new investors. The scheme eventually failed in 1920 leaving 5 banks and all investors ruined. Charles Ponzi made $20 million through his pyramid scheme, in those days.
Ketan Parekh
Ketan Parekh can best be described as the Pied Piper of Dalal Street. For two years, marketmen followed his every action because all he touched turned to gold. Be it investment firms, mostly controlled by promoters of listed companies, overseas corporate bodies, or cooperative banks, all were ready to hand the money to Parekh, which he used to rig up stock prices by making his interest apparent. In no time, scrips like Visualsoft rose from Rs 625 to Rs 8,448 per share and Sonata Software from Rs 90 to Rs 2,150. But the vicious cycle of fraud did not end with price rigging. The inflated stocks had to be dumped onto someone in the end, for which Parekh used financial institutions like the UTI. But the party ended rather abruptly a day after the Union Budget was presented in February 2001. SEBI investigated, it was evident that bank and promoter funds were used to rig the markets. Parekh was arrested in March that year and was in custody for 53 days. In the aftermath of the scam, many gaping loopholes in the market were plugged.

The surge in Bitcoin value is a coincidence? Maybe or maybe not! You decide. Let’s take Blockchain and Bitcoin value as separate things and just hope that the future of finance will be shaped by BlockChain Technology in a positive dimension.

Disclaimer: Views shared by CA In Delhi are personal. Feel free to act on your understanding.

How to link mobile number to Aadhar Card : [FULL GUIDE]

Aadhar has become an important document not only to establish your identity and avail social security schemes but also for financial matters such as filing income tax returns (ITR), keeping your bank account active, and investing in financial products like mutual funds. This article will guide you how to link mobile number to Aadhar card [AdSense-B]

Earlier on in the year, it was announced that customers had to link their mobile numbers with their Aadhar. There are many advantages of linking the two. For example, you can e-verify your ITR using Aadhar. In this process an OTP is sent to the mobile number linked to your Aadhar. You can even update personal details linked to your Aadhar online using an OTP sent to your registered mobile number. Downloading your e-Aadhar also requires verification via OTP sent to your mobile number.

Also check out: How To Locate Nearest Aadhar Center : [FULL GUIDE]

If you want to link mobile number to Aadhar, there can be two scenarios:

1. You are linking it for the first time;
2. You have changed your phone number and want to update your Aadhar data by replacing the old number with the new one.

How To Link mobile number to Aadhar for the first time:

This needs to be done offline. Most online transactions are OTP (one-time-password) authenticated, i.e., the password is sent to the registered number. Since you are linking your number for the first time, online authentication is not possible. To do this offline you need to follow these steps:

• Visit your nearest Aadhar center (Click here to locate nearest aadhar center) to get the Aadhar Update/Correction Form or
Click here to download form from the UIDAI website. [AdSense-B]
• Fill out the form correctly; submit it to the concerned person at the center and mention on the form that only mobile number is to be updated.
• While submitting the update form, along with photocopy of your Aadhar card you also need to provide photocopy of an Identity proof document such as PAN Card, Passport, Voter ID card (Click here for the complete list of supporting documents). [AdSense-B]
• Following the submission your biometrics will be verified at the enrolment center. Your thumb impression will be verified. While applying for Aadhar your biometrics were recorded and to authenticate the changes, they are verified.
• After verifying the biometrics, you will be given an acknowledgement slip. Usually it takes 2-5 working days for the updation to happen but as per the UIDAI helpline the turnaround time for the updation is 10 days.

Also Check: Documents Required To Update Aadhar Card Online and Offline

Updating your mobile number

You can link mobile number to aadhar card online, but make sure that your existing number linked to your Aadhar, is functional and handy. This is because the OTP to authenticate the updation would be sent to your existing number. You will be able link your new mobile number with Aadha only after submitting the OTP sent on your old number.

• On the UIDAI website, there’s an option under the Aadhar Update tab that will redirect the user to the Aadhar Self-Service portal.
(Click here to go to the portal directly) [AdSense-B]
• Enter your Aadhar number, and the Captcha text and request for OTP.
• The OPT will be sent to your existing mobile number, and after submitting it you’ll be redirected to a new page, where you can update the desired details.
• Under ‘Select field(s) to update’, select ‘Mobile Number’
• Now enter your new mobile number that you want to record in the database and submit.

GST Rules And Guidelines : Do’s And Don’ts (Format Attached)

GST (Goods and Service Tax) is a tax levied when a consumer buys a goods or services. The main aim of introducing GST is to bring all the taxes in a single umbrella. This bill helps to eliminate the cascading effect of taxes on production, distribution prices on goods & services. Goods & service tax refers to indirect tax which replaces taxes levied by the central & state government.
GST bill abolish indirect taxes like VAT, Service tax, excise, octroi. This post will brief you about GST Rules and guidelines and what you should do and what you shouldn’t [AdSense-B]

Rules & Guidelines

✓ Issue ‘Tax Invoice’ for taxable goods or services (format attached)

✓ Issue ‘Bill of Supply’ in case of exempted goods or services (format attached)

✓ Ensure different serial number for every invoice

✓ CGST, SGST to be equally charged for local sales. Example, for 12% GST sale within your state, 6% SGST and 6% CGST to be charged

✓ IGST for any interstate sale. For any sale outside your state, IGST will be imposed. Example, on supply of goods or services of 18%, from Delhi to Gurgaon or any other state, IGST to be charged at 18%.

✓ GST to be charged on any advance received against supply of goods and services. Example, If a person has given order for buying stationery amounting to Rs. 10 Lakhs and gave advance of Rs. 5 Lakhs, then he have to pay GST on that advance to the supplier at that time only.

✓ At the time of receiving advance amount, you will have to give the Receipt Voucher (format attached). Charge GST on that advance amount

✓ On sale of any cash sale of more than Rs 50,000, it is mandatory to write name and address of the buyer/service recepient [AdSense-C]

✓ Payment Voucher: A registered person who is paying tax under reverse charge mechanism shall a payment voucher at the time of making payment to the supplier. The payment voucher should contain the prescribed particulars. (format attached) Example: Payment of rent to landlord who is ot registered under GST, will amount to reverse charge mechanism. Hence, payment voucher to be issued by us to landlord.

✓ Receipt Voucher: To be issued on receipt of advance payment. (format attached)

✓ Refund Voucher: Where a receipt voucher is issued on advance payment and subsequently no supply is made and no tax invoice is issued, the registered person may issue a refund voucher to the person who had made the payment (format attached)

✓ Revised Invoice: These are to be issued against the invoices already issued during the period starting from the effective date of registration till the date of issuance of certificate of registration to him.

✓ Credit Note is to be issued where supplier has charged higher amount of tax whereas tax payable is less than actually taken from receiver in such cases supplier has to issue credit note.

✓ Debit Note is issued to the recipient for the tax amount not being charged by the supplier i.e. when supplier collects lower amount of tax than tax amount payable on such supply of goods and/or services

DO’S

[AdSense-B]

Maintain record of each and every document. Pay more attention than before on record keeping
Be very careful on charging CGST, SGST and IGST.
Issue tax invoice on sale of taxable goods/services – Issue Bill of Supply on sale of exempted goods/services
Take Receipt Voucher from seller whenever you pay advance
Take tax invoice on every purchase of goods and services. Make sure it mentions advance paid earlier, if any, in that tax invoice. – Issue payment invoice is tax paid on reverse charge basis
Inform your GSTIN / ARN to all your suppliers of Goods & Services.
Obtain GSTIN of all Suppliers & Buyers.
Update your accounts regularly
Contact us whenever in doubt

DON’TS [AdSense-B]

Don’t buy from unregistered dealers. You won’t get input tax credit and you will have to pay GST on their behalf, due to ‘Reverse Charge’ mechanism
Don’t forget to issue separate serial number for invoice
Don’t do any over writing of invoice
Don’t cancel the invoice. Use credit note in case of cancellation of supply of goods/services
Don’t hesitate to ask us for any clarification

GST Format

Also Check Out ==>

1) How To Register For GST : Step by step guide

2) Documents Required For GST Migration

3) GST Rate List

Greenwolf Advisors Pvt Ltd : Finance Services

Greenwolf Advisors Contact Details:

Address : 208, Pearls Business Park, Netaji Subhash Place, New Delhi 110034 || Contact :+91 9711430728 || Email : [email protected] || Website : www.greenwolfadvisors.com.

Our partners at Greenwolf Advisors genuinely understand your requirements and with their tremendous experience, help you in not only taking care of compliance but also acting as a CFO partner of your business to drive growth and maximize the efficiency of the company’s finances. Our experts will help you make insights-driven strategic decisions through our tailored solutions to your unique requirements

We understand that our growth lies in our clients’ growth and we whole heartedly focus on satisfaction and growth of our clients.
We are committed to provide you the highest quality service wherein our dedication and sincerity can be felt by you in our work. Our philosophy lies in going an ‘extra mile’ and provide you value addition that is more than a part of our duty.

We understand that each business is driven by different aspirations, which is why we customise our advice, ideas and support for every client. Every bit of stress and paperwork we can take off your hands means more time for you to spend on running and expanding your business.

Greenwolf Advisors offer a wide range of financial services to individuals and business owners. By seeking our sound financial information, we believe you will be better able to identify your goals and make sound decisions, to help you reach these goals.

At Greenwolf Advisors, we also help Finance Functions leverage the power of analytics and deliver much more than accurate financial statements and reports. We help our clients deliver forward-looking, predictive insights that help shape the business strategy, controlling the strategy execution by taking ownership of the organizational data and improve day-to-day decision-making in real-time.

Services offered by Greenwolf Advisors :

Company Registration