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Aadhar Mandatory for GST registration

by Estartup India Grow Business With Us

As we know, Aadhar is a 12-digit unique random number that is assigned by the UIDAI- Unique Identification Authority of India to the Indian residents after a collection of the identification process arranged by the Authority. In this blog, we will notify the important guidelines issued by the Central Board Of Indirect Taxes on Customs Provision for Aadhar Authentication in GST Registration notified. As per the rules and regulations of the Government, GST Registration is mandatory for all types of business.


Know About Aadhar Authentication


Aadhar Authentication is a method by which the Aadhar number together with the demographic and biometric statistics of an Aadhar cardholder is deposited into the Central Identities

Data Repository for its authentication and such storehouse validates the accuracy of the data or whether the same is insufficient basis the available data on it. Also, it provides an online platform of identification to validate the Aadhar cardholder promptly anytime and at anyplace. 

 

Why GST Registration is necessary?


GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business. Benefits to GST registered business at glance are as follows:-


  • Become more competitive: You will be more competitive in comparison to your unregistered competitors since you will carry valid tax registration.

  • Expand your business Online: You cannot sell products or services on an e-commerce platform without GST registration. If you're planning to give a blow on an e-commerce platform like Flipkart, Amazon, Paytm, Shopify, or through your own website, you must need a GSTIN.

  • Can take input tax credit:  Only Registered GST holders can avail input of GST tax paid on their purchases and save costs.

  • Can sell all over India without any restrictions: Without having GSTIN you cannot trade inter-state. This is possible only if you registered your business under GST.

  • Apply Government Tenders: Various government tenders require GSTIN to apply tender. If you don’t have you may miss the business opportunity.

  • Dealing with MNCs: Generally, MNC’s does not comfortable dealing with small business entities until they carry valid tax registration proof.

 

Know what are the changes in the GST Registration process...


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About Estartup India Innovator     Grow Business With Us

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Created on Aug 22nd 2020 08:25. Viewed 146 times.

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