Complete analytical view of GST Registration & Applicability

• July 21, 2020
• CA Chandan Agarwal's Office

In any tax system registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. Without GST registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him.

A. Need & Advantages of GST registration

There are following advantages:

1. Legal Recognition

2. Authorized to collect tax from customers

3. Claim input tax credit

4. Seamless flow of input tax credit.

Read more on: https://taxguru.in/goods-and-service-tax/complete-analytical-view-gst-registration-applicability.html