1) What is GST Registration
Registering any type of business based upon the GST Law involves in attaining a specific unique number from the tax authorities and government of India.
This unique number is to be acquired by all business entities or individuals in order to identify themselves as a registered business entity or individual in the frame of the GST Act.
2) Scope of work
- Filing of GST Registration Application
- Issue of GST Identification Number (GSTIN)
Invoicing might become less complicated with GST if taken care of properly. As an advantage, the bills of sale are additionally specified as per the taxes allowed on whichever goods and services provided and are mentioned separately for each transaction. With GST, only one price may be written.
EASE OF BUSINESS
Automated and simpler GST procedures have been introduced which make registrations, payment-related processes, taxes and refunds become much easier to handle, understand, and keep an account of.
By registering oneself under the GST Act, one acquires legal recognition. The business entity or the individual is legally recognized as a goods and services distributer or manufacturer which gives him the benefit of being acknowledged by many consumers and other businesses as well.
GST ON SALE AND PURCHASE INVOICES
The business individual or the business entity has the freedom to collect GST on sale invoices and the purchasers have the liberty to claim the input credit which can later be substituted to pay for their tax liabilities. The same can be done by availing input credit on purchase invoices by the business entity or individual which can be later adjusted.