Impact of GST on Indian Economy | Registration Process

After the implementation of the GST Act, 2017, the entire taxation system of the country has been revised, and now the entire tax filing and calculation comes under one uniform Taxation platform, which is, no doubt a beneficial element for every Indian business personnel, farmer, serviceman, and the citizens. 

While implementing the GST taxation system in the country, an expert panel conducted a prolonged process of analyzing, planning, and then executing the process over 1.2 Billion+ countrymen. 

But a trader might lose one’s business or is liable to pay fines due to non-registration under GST. Every small or big scale vendor, supplier, or trader, and even customer should be aware of the GST norms to avoid penalties. 

Hence, we should not overlook the positive perks of GST implementation on the trades and business in India. 

Benefits of GST Taxation System

• Reduced number of taxes.
   
• One uniform platform for every kind of tax filing. 
   
• No cascading effect of the earlier tax structure.
   
• The better market for all traders.
   
• Beneficial Input Tax Credits for the business personnel.
   
• Better scope of competition in the online market.

Therefore, if you are a self-employed individual or own start-up business, GST registration is mandatory for every trader. Even if the annual turnover of a business is less than INR 20 lakh, GST registration should be done to enjoy ITC benefits from the Government.

GST Registration Process

At Online Legal India™, you can apply for GST Registration with ease at an affordable price, where the professional team of GST experts guides you at every step.

You should also know the fact that under Compliance Rating Score (CRS) in GST rules, your business is ranked by the Government as per the GST taxpaying records. A business can suffer badly based on low ratings.

So, to avoid missing out on GST return filing, Online Legal India™ can actually help you to file the GST returns on time. Trusted by more than 1,20,000 happy clients from every corner of India, we provide diverse services in the legal field, starting from Company Registration, Trademark Registration, ITR filings, and many more.