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The garment industry in India is one of the oldest and biggest contributors to the country’s GDP, job growth, and exports. In the textile industry, which is one of the oldest and second-largest manufacturing sectors in the country, there are both skilled and unskilled workers. So, businesses need to know about the GST on Apparel, Clothing, and textile products.
What is the Goods and Services Tax?
The Goods and Services Tax (or GST) was put in place on July 1, 2017. It makes it easier to pay taxes. It is put on everyone who supplies goods and services to the country. Before the GST was put in place, there were service taxes, excise taxes, and other taxes. These have been replaced to make the indirect tax structure more uniform.
It is a kind of indirect tax that businesses must collect when they sell goods or provide services. Every business that qualifies for GST Registration gets a unique GSTIN number.
HSN Code and GST rate for clothing
Chapter 61 of the HSN code has rules about knitted clothes and accessories. In Chapter 62 of the HSN code, you can find clothes and accessories that aren’t knit. Any piece of clothing or apparel with a taxable value of less than INR 1000 will be subject to a Gst on Textile Product of 5% in both categories. On the other hand, all types of clothing and garments with a retail price of more than INR 1000 have a 12% GST Rate.
Documents needed to register for GST
PAN card of the company
Documents like partnership agreements, MOAs, and AOAs can be used as proof that a company has been incorporated. The applicant’s photo in passport size
Information about who can sign the document
Details about who is applying
The main place of business can be shown by electricity bills, title documents, copies of municipal khatas, property tax receipts, and rental agreements (anyone)
Anyone can show proof of bank account information, like the first page of a passbook, a bank statement, or a cancelled check.
Process for Online GST Registration
Use the GST Portal to register for GST.
Make a TRN by completing OTP Validation.
TRN will now be used to send in the application for GST registration.
Fill out the application form with all the information it asks for.
Check up on the status of the application.
After proving that you are who you say you are, you can download the GST Registration Certificate.
Contact Us for GST Filing & GST Registration
Call us on +91-8943229346
See GST Filing Packages on https://www.gstsuvidhakendras.org/gstmonthlyfiling/
See GST Registration Packages on https://www.gstsuvidhakendras.org/gst-registration-service/
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Tag : GST Filing, GST Registration, TDS Filing