How can companies doing business in Bangalore, Karnataka get GST registration
Dear Friends,
GST is an indirect tax that will replace various taxes like Central Excise Duty, Service Tax, State Sales Tax, and Value Added Taxes levied by different states. The implementation of Goods and Services Tax is going to have a substantial impact on the business as well as the cost to consumers depending upon the structure of the business, location, and consumer. It will also bring benefits to consumers by reducing the unnecessary tax burden.
GST registration in Karnataka
The Goods & Services Tax (GST) Council has decided that if businesses with annual turnover exceed Rs 20 lakhs want to apply for registration. The limit is Rs 10 lakhs for the North Eastern States. If it below Rs.10 lakh would be out of the GST net. GST registration is done through GST Portal.
Compulsory/Mandatory documents required for GST registration
Before enrolling with the GST system portal, you must ensure to have the following information and documents available with you - Provisional ID and password received from VAT authority, Valid email address, Valid Mobile Number, Bank Account Number, Bank IFSC code.
Necessary documentation comes in three categories
1:- Company documents:- PAN card of the company, Registration Certificate of the company, Memorandum of Association (MOA) /Articles of Association (AOA), Copy of Bank Statement, Declaration to comply with the provisions, Copy of Board resolution.
2) Company Director’s documents:- PAN and ID proof of directors.
3) Company Registered Office documents:- Copy of electricity bill/landline bill, water Bill, No objection certificate of the owner, Rent agreement (in case premises are rented), You can also use Virtual Office for GST registration.
Benefits for companies operating or doing business in Bangalore Karnataka - By taking Remote workspace/Virtual Office space for GST registration/business registration all over India or pan India.
Now we need to understand the need and importance of Remote office Space /Virtual office space. We are living in the technology age, with the help of technology, all companies operating in Bangalore are mostly operating in other states of India. As per GST rule, if a company is operating or doing business of goods or services, they need to take GST registration in that state- as per GST law.
To get GST registration, any company needs to show proof of office address in that state. There are three options for a company to get an office address in a state
1. To own an office space-which is very costly and not required.
2. To rent an office space, again it is costly and mostly will not be required by a company.
3. To take remote/virtual office space/address, which is very pocket-friendly, cost-effective, and this will fulfill all the requirements of GST registration/business registration.
Note:-Remote workspace/Virtual office space is always given at a physical office space. (For example co-working space).The cost of Remote workspace/Virtual office space starts at minimum Rs. 1000/ per month.
For more detailed information contact us 24/7 —+91 8882702020. INSTASPACES.
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