About GST Registration

GST (GOODS AND SERVICE TAX) is an indirect tax that has replaced all the existing indirect taxes applicable until now. It is primarily a combined form of all the other taxes which will deliver for a single and streamline the process. 

The GST registration process is an effective process to become a part of GST. The current GST regime needs every business (subject to certain turnover) that supplies goods or services to register under the GST. Carrying out business without registering is a criminal offense and can lead to heavy punishments.

Advantages of GST Registration

Exemption to New Traders

GST rises the exemption limit for small traders or service providers. Earlier if a new business/trader crossed the turnover limit of 5 lakhs, then they needed to get registration under the VAT Act. Nevertheless, under GST, the said limit was raised to Rs. 10lakhs which is very useful for start-ups or small business traders.

Legally recognized as a Supplier

With mandatory or voluntary registration under GST, the supplier can now gather the taxes legally. With the said registration, the registrant or the supplier can also allocate the original invoice to the consumers.

Lesser Tax Compliance

The introduction of GST has lowered tax compliances as the number of tax returns filed under GST is lower than in the earlier indirect tax regime.

Simple Tax Payment Process

After the implementation of the GST Act, it presents only a single tax system, and filing tax returns is also very simple. Further, GST also presents a simple procedure of registration as all the method has been made online.

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