How To Obtain GST Registration In Pune?
GST or Goods and Service Tax is a revolutionary taxation scheme that has brought about a change in the way businesses operate, not just in Pune but in the entire country. And if the 9% increase in the GST collection of the country from last year is anything to go by, it’s being implemented successfully and businesses are benefiting from it too. So read on to know everything about GST and why it is important for your business.
What Is GST in India
- GST stands for the indirect tax levied in India on the sale and purchase of goods and services.
- It is a comprehensive, multistage, destination-based tax. GST is termed as comprehensive because it has subsumed almost all the indirect taxes except a few State taxes.
- Further, GST is divided into CGST, IGST and SGST. CGST and IGST is levied by the Central Government, whereas SGST is levied by the State Government.
- CGST and SGST is to be paid for the Intra-State Supply, whereas IGST is to be paid for Inter-State Supply.
Benefits Of GST Registration
GST registration is beneficial for businesses as well as consumers too. Some of the advantages of GST registration include-