Do you import goods into India? Then, you must be GST savvy! The Goods and Services Tax impacts the way you import goods into the country. No worries we, at Startupflora, make GST registration hassle-free for the importer.
We can be termed as import-export gurus guiding you through the complexity of GST and ensuring that your import export experience will sail smoothly.
Why GST Registration is Important to Importers?
Let's have a glimpse of why GST registration of import and export is a matter of importance before we proceed:
Legally Compel: Being legalized now there is a kind of an implication of having an obligatory necessity for getting either of the parties to get itself registered. Its attraction for other kinds of additional penalties, though it added some more confusion.
Input Tax Credit (ITC): GST paid on imported goods can be availed by the registered importer as an ITC. This reduces your overall tax liability and improves cash flow.
Easy Customs Clearance: GSTIN, when valid, will ensure easy customs clearance, no delay, and the delivery of your goods on time.
Increased Business Credibility: GST registration increases your business credibility in the market and brings in your repute as a trusted business venture for suppliers as well as clients.
Step by Step Procedure for GST Registration for Importers
Let's get ready and enroll in just a simple three-step process.
Collect the necessary documents with you:
PAN Card
Aadhaar Card
Your proof of Business incorporation like any kind of deed like Partnership, certificate of Incorporation, etc
Bank statement along with Account No.
Digital signature
Import Export Code (IEC)
Documental proof of business place
Log on to GST Portal:
access the official website of the GST portal to register for online GST Registration .
Application:
All online application, along with supporting documents detailing your business and your import activities,
Uploading of Documents:
uploaded scanned copies of all the documents offered in support of the application
Verification and Approvals:
The authorized persons verify the submitted application together with the attached documents, and after accepting the application issued a GST Registration Certificate, by a unique identifier called GSTIN.
Key Considerations for Importers
On the basis of the fact, whether it imported for personal purpose or for business, GST differs.
GST Rates:
The GST rates vary according to the types of products. You should know which rate is going to be applied to your imported product.
Customs Duty:
Besides GST, the importers have to face customs duty on the imported products.
GST Returns:
No matter what happens during the course of the period, no transaction occurs in this case; the registered importer is liable to provide periodical GST returns.
Startupflora: Import-Export GST Partner
GST registration for import export is pretty complicated. Let us tell you how we will guide you to overcome all of that with proper advice.
Facilitating the online procedure of GST registration: We'll guide you through the online process of GST registration so things may go easy and smooth for you
Compliance in GST: In this regard, filling up returns under GST and recovery of ITC would be there
Expert Consulting: All your queries regarding GST shall be addressed, and you shall be provided with personalized import-export business advice.
This shall not deter you from an import business with its complications of GST. Keep the confidence high and get cracking at what really matters as the importing of fine quality goods and thanks for being with Startupflora!
It is no compulsion but a law in the book that would be helpful for being compliant with GST for smooth sailing and growth in business. Let this be Startupflora, so that it makes the mystery behind GST unfold and clear.
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