Publicado en: Legal/Gestoría en Chhattisgarh | Última actualización: |
Goods and Service Tax (GST) came into effect on 1st July 2017. It is a kind of indirect tax levied on the supply of goods and/ or services across the country. To know who is liable to get registration under GST, there are different categories.
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Importance of GST Registration:
BENEFIT of ITC -Input Tax credit of taxes paid can be taken only if an individual/entity is registered.
CREDIBILITY- There is a natural trustworthiness towards a registered business of an individual/entity. It also helps in reaching out to suppliers and customers with confidence and building good trade relations.
LEGAL STRENGTH- If for some reason, any business or individual takes legal action against the registered business, there is a legal strength to fight back or defend the case.
AVOID HURDLES – The way the GST regime works is through a chain system. In this chain, everyone wants to be GST-compliant. If a person liable to get registered is not registered, the authorities can track your activities and create a hurdle in business operations.
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