22-May-2024
What is the importance of GST Registration
The Goods and Services Tax (GST) is crucial as it simplifies the indirect tax structure by replacing multiple taxes with a single tax, promoting ease of doing business. It eliminates the cascading effect of taxes, reducing the overall tax burden on goods and services. GST fosters a unified national market, enhancing economic growth. It increases tax compliance through digital processes, broadening the tax base. Additionally, GST boosts government revenue and transparency, ensuring a more efficient tax administration and reducing corruption.