You must be aware that Goods and Services Tax (GST) is proposed to be introduced in India with effect from July 1, 2017.
In order to ensure that we determine the correct GST positions for our business transactions, we wish to inform you that we will rely on your current mailing address on record with us for the purpose of GST.
The existing service tax rate of 15% shall be replaced by a GST rate of 18%. The effective date will be as per the date announced by Govt. of India, which is expected to be 1st July 2017.
An important aspect of transition into the new regime is heavy emphasis on online matching of credits. Therefore we request you to kindly provide your GST Registration details as and when the same are allotted to you in the following format along with the acknowledgement copy and send an e-mail to [email protected] for updating in our master data records for GST returns.
| Particulars | Details |
| Client Code | |
| Party Name / Trade Name | |
| Legal Name | |
| Billing address | |
| State (as per billing address) | |
| PAN | |
| Provisional GST ID | |
| ARN No. |
i am full time trader in FNO and I m going for propreitorship registration to show trading in FNO as business, now my question is about GST, do i have to take GST registration for FNO trading, and then do i have to pay GST on my turnover?
Hello Heerain,
In case your total income for the year is 20 lacs or more then you are required to have GST number.
yes but then do i have to pay additional gst ?, as gst is already deducted with brokerage
You are not required to pay additional GST. You can consult your chartered accountant to claim for additional GST in case your total income for the year exceeds 20lacs.
i m currently trading with Trade smart online as individual. Do i have to open a separate trading account for trading under a preopreitorship with Trade Smart online incase i register for propretorship and trade under it, or should i continue with the same trading account under propretorship?
Hi Heerain,
You cannot convert the existing account to proprietorship account because your individual pan number will be different and pan number for proprietorship account will be different. You are required to open another account.
dear sir/madam,
am private company employee share market investor, and shrot term & long term trader ,am holding stocks since one year six month , my query is. is it mandatory to have GSTIN
Hello Rajshekhar,
In case your total income for the year is 20 lacs or more then you are required to have GSTIN.