Registration will confer the following advantages to a taxpayer:
- He is legally recognized as supplier of goods or
services. - He is legally authorized to collect tax from his
customers and pass on the credit of the taxes paid
on the goods or services supplied to the purchasers/
recipients. - He can claim input tax credit of taxes paid and can
utilize the same for payment of taxes due on supply
of goods or services. - Seamless flow of Input Tax Credit from suppliers
to recipients at the national level.
Source: CBIC Websire