Aadhar Mandatory for GST registration
by Estartup India Grow Business With UsAs
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...
Sponsor Ads
Created on Aug 22nd 2020 08:25. Viewed 237 times.