GST is the biggest tax reform in India which has tremendously improved ease of doing business and increasing the taxpayer base in India by including millions of small businesses in to its ambit. With the inception of the GST law, tax complexities has reduced due to the abolishing and subsuming of multiple taxes into a single, simple system.
The introduction of GST also resulted in the benefit to the tax payer by way of eligibility of input tax on inwards supplies which was not allowed in the erstwhile tax regime. Under the GST regime, a person who is engaged in the supply of goods or services is required to obtain registration, file returns, refunds, etc. in accordance with the provision of the GST Act.