India is all set to lead World Economy post the GST roll out
There is no doubt that an integrated tax regime was always necessary for boosting up India’s economy, especially after the recessionary trend post demonetization. This was one of the key factors that had urged the implementation of this game-changing economic move. It is worth mentioning that the initiation of the Goods and Services Tax has not only triggered the revival of India’s slumbering GDP, it has pushed its economy to the zenith.
This is exactly what the recent insights of the global organizations suggest. Ahead of the World Economic Forum in Davos, the International Monetary Fund (IMF) has projected India’s GDP growth rate at 7.4% for FY 2018 and has predicted that it will scale to 7.8% in 2019, leaving China (6.4%), US (2.5%) and EU (2%) far behind.
The way India is leading the burgeoning growth trend of the Asian economy, it is quite evident that the world is soon to set its eyes on her. Following the roll-out of GST, there has been a noticeable increase in the number of Online GST registration, something that has scaled up the investments from the MNCs. This has, in turn, led to a consistent acceleration of the GDP throughout 2017, and is deemed to go beyond 8% in 2019. Evidently,
- MNC’s mostly prefer to deal with those business entities that have a government approved reliable tax registration proof with them.
- All the prominent Banks & Financial Institutions demand tax registration certificate from the entity as its business proof to finance loans and other banking facilities.
On the whole, this justifies the significance of this groundbreaking economic reform in the growth of India’s GDP.
Now, you can truly be a vital part of this growth by applying for GST registration of your firm.
If you have any inquiry regarding GST registration procedure or need any assistance with the GST registration online, feel free to contact us at 8881-069-069.