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Benefits of GST Registration

The following are some of the advantages of GST registration:

Bank Loans: GST registration and GST return filing serve as proof of business activity and create a track record for a business. Banks and NBFCs lend to businesses based on GST return data. Hence, GST registration can help you formalize your business and get credit.

Supplier Onboarding: To become a supplier of reputed companies, GST registration is often times a must during the supplier onboarding process. Hence, GST registration can help you get more business.

eCommerce: GST registration is a must to sell online and through various platforms like Amazon, Flipkart, Snapdeal, Zomato, Swiggy, etc., Hence, having a GST registration will allow you to sell online.

Input Tax Credit: Entities having GST registration are eligible to collect GST from customers for the supply and offset the liability against GST taxes paid while purchasing various goods and services. Hence, GST registration can help you save on taxes and improve margins.

Benefits of the premium Package:

What is advantage of taking registration in GST?

Ans: Registration under the Goods and Service Tax (GST) regime will confer the following advantages to the business: Legally recognized as a supplier of goods or services. Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods or services or both by the business. Legally authorized to collect tax from his purchasers and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients. Getting eligible to avail various other benefits and privileges rendered under the GST laws.

Can a person without GST registration claim ITC and collect tax?

No, a person without GST registration can neither collect GST from his customers nor can claim any input tax credit of GST paid by him.

If a person is operating in different states, with the same PAN number, whether he can operate with a single Registration?

No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable to pay GST in terms of Section 22(1) of the CGST/SGST Act.

  • From India
  • Seller Since 2023

Pralay is a Tax consultant with 8 years of experience in areas such as GST, Income tax, Company Registration, and various License registrations. As a Tax consultant, Pralay helps individuals and businesses with their tax-related matters, such as filing tax returns, managing tax compliance, and providing tax planning advice. They may also assist clients with company registration, obtaining licenses, and other related legal procedures. With their extensive experience and knowledge of tax laws and regulations, Pralay is likely a valuable resource for their clients. They may work independently or as part of a team, providing customized solutions to their client's tax and legal needs.

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  • Package
  • ₹499.00
  • Delivery Days: 7
  • Revisions: 10
  • GST Registration
  • GST NO
  • GST Validation Certificate