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Showing posts from January, 2023

What are the details required for gst registration in India?

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  The main documents for GST registration ? - PAN card of the owner – Aadhar card of the owner – Photograph of the owner (in JPEG format, maximum size – 100 KB) – Bank account details* – Address proof** –  PAN card of all partners (including managing partner and authorized signatory) – Copy of partnership deed – Photograph of all partners and authorised signatories (in JPEG format, maximum size – 100 KB) – Address proof of partners (Passport, driving license, Voters identity card, Aadhar card etc.) – Aadhar card of authorised signatory – Proof of appointment of authorized signatory – In the case of LLP, registration certificate / Board resolution of LLP – Bank account details* – Address proof of principal place of business. Visit To For More Information> The main documents for GST registration .

GST Registration: A Closer Look at the Limit and its Impact on Businesses

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  The Goods and Services Tax (GST) is an all-encompassing multi-step destination-based tax that is assessed on any and all value added. The GST’s key benefits include transforming India into a single market by eliminating interstate obstacles, taxing inequalities, check post delays, and challenges with transit permits. The use of illicit money and corruption are also reduced. Additionally, because firms may now use input tax credits in all States, the GST will save them money. The reduction in the overall tax burden on products and services will benefit the final consumer. Thus, GST Registration is beneficial for innumerable ways What is GST Registration? Any business organization that registers under the GST Law gets a special identification number (GSTIN) from the relevant tax authorities in order to collect taxes on behalf of the government and claim input tax credits for the taxes paid on his inward supplies. In short,  GST Registration  is the process to obtain the ...

Barcode Registration: A Key Step in Implementing a Product Tracking System

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  Barcodes have become an essential part of modern retail systems, as they allow for efficient tracking and management of products. In India, barcodes are regulated by the Bureau of Indian Standards (BIS), which is responsible for issuing barcode numbers and ensuring compliance with national standards. It's important to note that a barcode is not just a number, but it's a combination of number and product details, this is why BIS review the application carefully. Once a company has been issued a barcode registration number, it can be used to label products for sale in India. It's also important to note that barcode numbers are unique to each product, so if a company wants to sell multiple products with barcodes, it will need to apply for and be issued a unique barcode number for each one. What is a Barcode in India? A barcode is a machine-readable representation of data that is used to identify items or products. It is typically represented by a series of vertical line...

Impact of GST Registration on FMCG Sector

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 With a total market size of over US$ 13.1 billion, the FMCG industry in India ranks fourth in terms of economic size. Consumer packaged goods is another name for Fast Moving Consumer Goods (FMCG) products. All consumables that people regularly purchase (apart from food and pulses) fall under this category. Among all the sectors of the Indian economy, FMCG is also one of the ones with the quickest growth. Learn about the Impact of GST registration on FMCG Sector through this article.  Cost Savings in Logistics GST's effects on FMCG The FMCG industry would also profit from GST because it would reduce logistics costs significantly. The FMCG sector presently accounts for 2-7% of overall costs in distribution; after the implementation of GST, this percentage is anticipated to fall to 1.5%. There will be a decrease in the cost of shipping and storing goods as a result of the GST regime's better supply chain management, tax payment, input credit claim, and absence of CST. It is ant...