Govt asks biz to register under GST by July 30

The government on Saturday asked traders to get registered under the goods and services tax (GST) regime by July 30. However, traders with a turnover of below ~20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime. “According to the GST laws, one is required to register before July 30. All traders are requested to register now instead of waiting for the last date," a finance ministry statement said.

The government on Saturday asked traders to get registered under the goods and services tax (GST) regime by July 30.

However, traders with annual turnover of below ~20 lakh, or those engaged exclusively in the supply of exempted goods or services, need not register under the new tax regime.

“According to the GST laws, one is required to take registration on or before July 30, 2017. All traders are requested to register now without waiting for the last date,” a finance ministry statement said.

Listing the benefits of getting registered under the GST, the ministry said that input tax credit can be passed on in the value chain and due taxes collected will come to the exchequer. “Therefore, traders are requested to register under the GST immediately without wasting time,” it said.

Excise, value added tax or service taxpayers who have already migrated to the GST Network portal and have been issued provisional IDs need to complete the registration process by September 22, by giving all the documents, following which a GST Identification Number will be issued.

Those taxpayers who need not register under the GST regime can cancel their registration by July 22. Those who have not migrated but are liable for registration will have to do so by July 22, it added. New taxpayers not registered under any erstwhile tax regimes will have to get themselves registered by July 30.