GST Registration or Goods or Services Tax is a consumption-based tax, it is an indirect tax which levied on sale, manufacturing, consumption, import, and export of Goods or Services. The Act made effective with the view to remove cascading of taxes which were there in India. There were a number of taxes which were imposed on the goods or services and the input of different taxes paid by the taxpayer was not available to him in different stages due to which the price of the goods as well service increased when ultimately consumed by the consumer. In order to provide the benefit of the input at various stages and in order to cascade the effect of the tax GST Act, was introduced. After the implementation of the GST Act, all the taxes like VAT, CST, Entry tax, entertainment tax, and different other tax as well as duties were subsumed and only one tax ie,., GST was introduced. One nation One Tax was the mantra.
Documents for GST Registration
The benefits of GST legislation will be uniformity of laws across the board, greater transparency, neutrality in tax rates on various products; credit availability on interstate purchases and reduction in compliance requirements. If GST is implemented in the true spirit, it will have many positives for the stakeholders and will lead to a better tax environment.
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