Are Company registration and GST registration the same
No, Company registration and GST (Goods and Services Tax) registration are not the same. While both registrations are important for doing business in India, they are distinct and serve different purposes.
To visit: https://www.mca.gov.in
Company registration refers to the procedure of establishing a company in accordance with the Companies Act of 2013. It involves obtaining a Certificate of Incorporation (COI) from the Registrar of Companies (RoC) after submitting the required documents and paying the prescribed fees. A company registration provides the legal recognition to a business entity, and it also helps in creating a separate legal identity for the company.
On the other hand, GST registration is the process of obtaining a unique Goods and Services Tax Identification Number (GSTIN) for a business. It is mandatory for businesses with an annual turnover exceeding a specified limit to register for GST. The GST registration enables the business to collect and remit GST to the government and also helps in claiming input tax credit.
While company registration and GST registration are separate processes, a business entity needs to complete both registrations to legally operate in India. Therefore, it is important to obtain both registrations as per the applicable laws and regulations.
For further details access our website: https://vibrantfinserv.com