GST Registration for Foreign Non-Resident Taxpayer
Easily obtain GST Registration with Expert Help from CBS Stracon
Goods and Services Tax or GST has been implemented in India from 1st July, 2017 and non-resident taxpayers are also required to obtain GST registration and file GST returns. According to the GST Act, “non-resident taxable person” means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India. All non-resident taxable persons are required to appoint an authorised person in India for the purpose of complying with GST regulations.
Non-resident taxpayers are required to obtain GST registration as a Non-Resident Foreign Taxpayer 5 days prior to the undertaking business in India. An application for GST registration for foreign non-resident taxable person must be made through an authorised agent in India. Once, an application for GST registration is filed, a transaction number would be generated. Using the transaction number, GST deposit must be made by the taxpayer to obtain GST registration in India.
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Advantages of Goods & Services Tax (GST)
With the implementation of GST in India, the indirect taxes would be streamlined and standardized. Under GST regime, businesses would no longer have to obtain multiple VAT registration in different States or obtain a separate VAT and Service Tax registration. A single GST registration would be sufficient across India for selling or purchasing goods or providing services.
Subsumes various other taxes like Central Sales Tax, Additional Customs Duty, Purchase Tax, Luxury Tax, etc., Hence, under GST, many of the taxes in existence today would be subsumed and made into one tax.
Subsuming of Taxes
Currently in some states under the VAT regime, businesses are required to comply with VAT regulations once they cross an annual turnover of Rs.5 lakhs.
Ease of Doing Business
Currently, many businesses like restaurants, computer sales and services businesses have to comply with both VAT and Service Tax regulations. This creates a compliance burden on the business, as they have to calculate taxes for the transaction based on different rates for different items.
Our GST Expert will prepare your GST registration application and collect your documents with signature in the format.
Once the application is prepared, our GST expert will file for registration under GST with the concerned Tax Department.
Once the GST registration application and the attached supporting documents are verified, the Tax Department will allot GST registration number (GSTIN) for your business.