Failure to comply with the process of registration of GST can lead to various consequences, that a person can neither claim any Input Tax Credit nor can collect tax from his customers.
Goods and service tax is an indirect tax which has been designed as single tax on the supply of the goods and services or both. A person who is liable to pay tax is bound to follow the number of procedures in complying with provisions of the GST laws. If there is any breach of the procedures than heavy number of penalties can be imposed on them.
In the world of digitalization, electronic commerce has achieved an extraordinary growth by allowing the access to Internet trade. Through its reach all over the world it has several benefits for both the consumers and business, as it is an efficient way of entering into transactions.
