Registration :

Registration of any business entity under Model GST Law (have been referred here as law or Act) implies obtaining  a unique number from the concerned tax authorities so that all the operations of and data relating to the business can be processed and agglomerated in seamless manner with a view to allow smooth flow of Input Tax Credit and also ultimately flow of fund in inter sate transactions. Without registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him. In any tax system this is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration will confer following advantages to a taxpayer:

• He is legally recognized as supplier of goods or services.

• He is legally authorized to collect tax from his customers and pass on the credit of the taxes paid on the goods or services supplied to the purchasers/ recipients.

• He can claim input tax credit of taxes paid and can utilize the same for payment of taxes due on supply of goods or services.

• Seamless flow of fund from Centre / Exporting States to IGST Fund and then to importing States.

• Seamless flow of Input Tax Credit from suppliers to recipients at the national level.