All Indian service companies (including freelancers), businessmen, and manufacturers are subject to the Goods and Services Tax (GST), which went into effect on July 1, 2017. An amount of central taxes, such as Service Tax, Excise Duty, and CST, but also state taxes, such as Amusement Tax, Luxury Tax, Octroi, and VAT, were consolidated into one tax, GST, on July 1, 2017. GST will be charged at every point along the supply chain, with full set-off benefits. There is no need for manual intervention in the GST process because it is entirely online.

The following are some of the advantages of GST registration:
Taxes no longer have a cascading effect.
Small business composition scheme
Online procedure is simple and straightforward.
E-commerce operators have a specific treatment.
Logistics efficiency has improved.
The unorganised sector is governed by the GST.

What happens if a taxpayer does not file his or her GST returns?
GST Cancellation: Failure to file GST returns can result in penalties and the cancellation of a person's GST registration. The GST registration will also be cancelled if the taxpayer has not filed GST returns for six months. Unless the late filing penalty is paid, the person will be unable to obtain another GST registration. As a result, it is always preferable to file GST returns on time.
Returns with no GST: Even if a person does not have a business, he is required to file Nil GST returns. A penalty may be imposed if the GST returns are not filed on time.
Interest on late GST payments: If a taxpayer fails to make a timely GST payment to the government, he or she must pay interest at the rate of 18 percent. Once you've signed up for our services, we'll keep in touch with you on a regular basis to help you avoid penalties, interest, and late fees.

For GST registration contact us at https://muds.co.in/complete-gst-registration-guide/