Goods and Services Tax or GST has so many advantages that help in integrating the economy while making Indian products more competitive internationally. GST is compulsory on the supply of products and services within the country. GST Registration is mandatory for any industry or individual.
GST Registration for your business is quite significant as it can help your business to get legally recognized by others and opens the door of several business opportunities for you. Below are few advantages that your business could avail once getting GST Registration:
• Your business would achieve legal recognition
• The business would become more competitive in the market
• With the valid GSTIN, you could easily trade with a different state in India
• You could expand your business online through different ecommerce portals
• Reduction in unnecessary logistics cost. This is quite helpful to increase the profits of businesses that are involved in the supply of goods via transportation
• Being a valid GST registered business you could easily go for making business deals with top MNC's
• Being a valid GST holder you could claim an input tax credit of GST paid on the purchase of goods and services and save the cost
• Once you have a valid GST registration in jaipur for your business you could easily apply for any Government tender.
The Goods & Service Tax (GST) is intended to be a harmonized tax on goods and services across all of India's states. It is a component of the fiscal structure meant to replace many of the multilayered indirect tax regimes currently prevailing in India. It is claimed that GST will be a simplified form of taxation that will achieve the multiple objectives of:
• Lowering tax burden
• Expanding the tax base
• Increasing tax collections