Goods and Service Tax Number (GSTIN) is a unified indirect tax which mandatorily requires to register once business annual turnover exceeds INR 19 Lac. Generally, small business entity voluntarily applies for GSTIN even before crossing the above threshold turnover limit of INR 19 Lacs. It helps a startup to open a current bank account in the name of sole proprietor firm, avail input credit of taxes paid on the purchase, deal with MNCs easily and to sell the product in E-commerce portals like Flipkart, Amazon, and others.
MSME registration is useful for small businesses and enterprises to get enroll with Ministry of Micro, small and medium enterprises. It helps you to take benefits and incentives from state government as well as from central government. It is also treated as a proof of business existence for a sole proprietor.
Digital Signature also known as DSC is a USB pen drive protected by a password which is used to apply signature online on various occasions such as at the time GST registration, tax return filing, company formation and other legal matters.
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