GST Registration is the process of registering a business under the Goods and Services Tax (GST) law, mandatory for entities with an annual turnover exceeding the prescribed limit. It provides a unique GSTIN and allows businesses to collect and remit GST, ensuring legal compliance and eligibility for tax credits.
Key Aspects :
Unique GSTIN :
Businesses receive a unique Goods and Services Tax Identification Number (GSTIN) for nationwide identification.
Legal Compliance:
It ensures businesses are compliant with GST laws, allowing them to collect and remit taxes.
Tax Credit Eligibility:
Registered businesses can claim input tax credits on purchases, reducing overall tax liability.
Interstate Operations:
Enables businesses to engage in interstate trade without restrictions, as GST is uniform across states.
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