GST Services in Lucknow
The goods and services tax regime implemented in the country since July 1st, 2017 covers all products and services in the country. This is the single biggest indirect tax reform since independence in the country. Every business with the turnover of 20 lac or more has to get registered with the goods and services tax. The businesses in the northeast and hilly areas of the country have to get the goods and services tax registration if they have the turnover of 10 lac or more. The registration process is also providing online for clients. Every business that involves an interstate movement of goods also needs to register with the goods and services tax irrespective of the turnover level.
The goods and services tax has subsumed several indirect taxes in the central and states. The aim of the goods and services tax is to create a single tax regime across the length and breadth of the country for smooth flow of goods and services across the country. The goods and services tax has created five tax slabs in the country. The essential items are covered under the 0% tax slab, above this slab is 5% slab, 12%, slab and 18% and 28% slab. The new tax regime ensures that cost of every items or service will be same in every part of the country. The new tax regime has made it easy to create a single market in the country and ensure smooth transportation of goods and service in the country.
The client from any business or services must contact the expert of the GST services in Lucknow City to know the registration process and also how the client will take the input tax credit. The expert helps the businessman traders and service providers to understand the various provisions of the new indirect tax and how to adhere to it for smooth flow of business. The client also understand the IT network for the implementation of the goods and services tax and its operations, since each client has to file 3 returns per month and 37 returns per year. The filling becomes easy if the client is aware of the working of the IT backbone of the goods and services tax.