At Bashamakh, we don't just offer services – we offer growth opportunities. Let's join forces to optimize your tax strategies, minimize risks, and pave the way for unparalleled financial growth
At Bashamakh, we understand that GST compliance can be a daunting task for businesses of all sizes. Our dedicated team of professionals specializes in GST and is equipped with the knowledge and expertise to help you streamline your tax operations. With years of experience in the field, we have successfully assisted numerous businesses in Mumbai in achieving GST compliance, Mumbai GST Consultants optimizing their tax strategies, and minimizing potential risks.
18% GST: Many consultancy services, including management consulting, financial consulting, technical consulting, and professional advisory services, often attract an 18% GST rate.
12% GST: Some specific types of consultancy services might fall under the 12% GST rate. However, it’s essential to check the specific category under which the consultancy service falls.
Other Rates: There are cases where certain consultancy services might fall under different GST rates, such as 5% or even 28%. The actual rate can depend on factors like the nature of the service and the specific category it falls under.
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The government does not levy any fee for the registration process itself. However, it’s important to note that there might be associated costs if you choose to seek assistance from a GST consultant or professional to help with the registration process.
Keep in mind that GST regulations and fees can change over time. For the most up-to-date information about GST registration fees and any changes that may have occurred since my last update, I recommend visiting the official GST portal or consulting with a professional who specializes in GST registration and compliance.
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Getting GST registration in Mumbai, like anywhere else in India, involves a straightforward process. Here’s a general guide on how to get GST registration:
Determine Eligibility: Assess whether your business meets the eligibility criteria for GST registration. Generally, businesses with a turnover exceeding the prescribed threshold (as per the latest regulations) are required to register for GST.
Gather Documents: Prepare the necessary documents, which typically include PAN card, Aadhaar card, address proof, bank account details, and business registration documents (if applicable).
Online Application: Visit the official GST portal (www.gst.gov.in) and navigate to the “Services” section. Click on “New Registration” and select “Taxpayer.” Fill out the online application form (GST REG-01) with accurate information.
Verification and Submission: After submitting the form, you will receive an Application Reference Number (ARN) on your registered mobile and email. The ARN signifies that your application has been successfully submitted.
A GST (Goods and Services Tax) consultant is a professional who specializes in providing guidance, advice, and assistance related to GST compliance, regulations, and strategies. GST consultants play a crucial role in helping businesses navigate the complexities of GST laws, ensuring proper compliance, optimizing tax strategies, and minimizing potential risks. Here’s what a GST consultant typically does:
GST Registration: Consultants assist businesses in determining whether they need to register for GST based on their turnover. They help gather the necessary documents, complete the registration application, and ensure accurate information submission.
Tax Classification and Input Tax Credit (ITC): Consultants help businesses correctly classify their goods and services under the appropriate GST tax rates. They guide businesses in claiming and utilizing input tax credit, which is the credit for taxes already paid on inputs.