Understanding More About The Benefits Of GST Registration
by Rajnish Shanker Online gst servicesCurrently GST is taking India by
storm. It is likely to bring one nation one tax norm, thanks to
NarendraModi. The main aim of this
service is to unite indirect tax as one and facilitates businesses to be
competitive globally. The GST structure has been developed for reducing
corruption, efficient form of tax collection and easy form of inter-state good
movements. There are some Benefits of GST Registration involved,
which are suitable for businesses with more than 20 lakhs turnover.
Learning about the benefits:
It is always important to go for
GST registration, if your business is associated with e-commerce players or
inter-state sales with more than 20 lakhs turnover, a year. There are some
specified businesses, which are required to register with the GST platform, no
matter whatever their yearly turnover is. However, people with less than 20
lakhs turnover can also register with GST but under voluntary option. Some of
the small businesses have right to opt for the composition levy. However, they
are not given the right to collect tax from customers or avail any input tax
credit.
Going for the voluntary registration:
As mentioned already a small
business with less than 20 lakhs turnover can opt for voluntary GST registration.
Even a person can opt to go for this registration and enjoy Benefits of
GST Registration, even if not liable to do so. All these GST
provisions, as elated to registered taxable person will be applied to such
voluntary registration service. The person will be treated just like a normal
Indian taxable person.
Advantages you are likely to procure:
Even after getting in touch with
composition levy, small organizations are currently registering their names
voluntarily under GST services. This is because ley composition comprises of
some drawbacks. With the help of voluntary registration, you will be able to
avoid such drawbacks and can procure multiple advantages. You will be
recognized legally as supplier of services or goods. It helps in attracting
more number of customers towards your business. You are likely to become more
competitive and take help of input credit, with the help of this GST
registration only.
Sponsor Ads
Created on Oct 3rd 2017 23:36. Viewed 422 times.