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The Goods and Services Tax (GST) is a unified tax system that has replaced multiple indirect taxes in India. GST registration is mandatory for businesses with an annual turnover above the threshold limit and for those engaged in inter-state supply of goods and services.
The GST registration process involves creating an account on the GST portal, filling in business details, and submitting required documents like PAN card, Aadhaar card, business registration certificate, address proof, and bank details. Upon approval, the business receives a unique GST Identification Number (GSTIN).
GST registration enhances business credibility, allows input tax credit claims, ensures compliance with tax regulations, and enables businesses to expand operations without regional tax barriers. It is a crucial step for businesses to legally conduct trade and avail various benefits under the GST regime.