The Individual/businesses shall be legally recognized as a Supplier of Goods & Services
Registered person can claim the Input tax credit (tax paid on the purchase of goods & services)
IRegistered person can pass on the credit of the taxes paid on the supply of the goods & services to the purchaser.
He can make Interstate sales without restrictions
He can have a competitive advantage in comparison to other businesses Small businesses (having turnover of less than 1 crore) can opt for composition scheme to lower their taxes
In GST, the number of compliances are less as it has replaced all other indirect taxes
1. Legally recognized as supplier of goods or services.
Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods and/or services by the business.
Pass on the credit of the taxes paid on the goods and/or services supplied to purchasers or recipients.
2. Authorization to a taxpayer to collect tax on behalf of the Government.
The supplier can make interstate sales without any restriction.
The supplier can take ITC (input tax credit) on the purchases made.
The supplier can provide ITC (input tax credit) to the customers.
Only a registered supplier is allowed to register himself as an E-commerce Operator.
The supplier can have access to larger market. An unregistered supplier is not allowed to make interstate sales.