What Are the Importance of GST Registration & Its Certificate for Your Business
It is as fundamental for any taxable individual to get registered under GST as any citizen of the country needs to have an identity proof to avail the advantages & to be perceived as a citizen. By not registering under GST, there could be severe penalties for example a person who fails to register will have to pay an amount equivalent to 10% of the tax evaded or Rs. 10,000 which is higher. If an individual doesn’t register intentionally and comes under the scanner of authorities as a fraud, then the penalty could be as high as 100% of the tax amount evaded. Various types of GST need to be paid, and with the option of Input Tax Credit, it is more helpful for someone to get registered and to know how to download a GST certificate than evaluated to someone who does not registered under GST. It is necessary not just to advantage of the benefit as well as to evade penalties. Once there are penalties levied on you as an individual or your business, there could be severe repercussio...