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GST - Govt asks Traders to register before July 30

By TIOL News Service

NEW DELHI, JULY 15, 2017: AS per the GST laws, one is required to take registration on or before 30 th July, 2017. All traders are requested to register now without waiting for the last date.

If one is carrying out any business and have an Annual Aggregate turnover in the preceding Financial Year exceeding Rs. 20 lakh (Rs. 10 lakh in Special Category States), one needs to register in all the States/UTs from where one is making taxable supplies. However, one need not register if one is engaged exclusively in the supply of exempted goods or services or both. The timelines for applying for registration are as follows:-

Registered under any of the existing law Migrated Liable for registration in GST regime Provisional Ids issued need to be converted to GSTIN by submitting necessary documents in 3 months (i.e. by 22 nd September 2017)
Not liable for registration in GST regime Need to apply for cancellation in 30 days (i.e. by 22 nd July, 2017)
Not-Migrated Liable for registration in GST regime Need to apply for registration within 30 days (i.e. by 22 nd July, 2017)
Not registered under any of existing law Liable for registration in GST regime Become liable from 01/07/2017 Need to apply for registration within 30 days (i.e. by 30 th July, 2017)
Become liable after 01/07/2017 Need to apply for registration within 30 days from becoming liable for registration

Govt has stated that taking registration in GST is a very simple process, and the comfort of the taxpayer has been kept in mind while designing the procedure. One can take registration from the comfort of one's home by filing an online application on the common portal https://www.gst.gov.in/ . All one need is a valid PAN, email id and a mobile number. Once these three details are verified, one will be required to furnish other details relating to his/her business. There is no need to submit any physical documents (unless a query is raised and documents asked for) and all necessary documents can be scanned and uploaded. If there are no queries, one will receive his/her registration online within three working days from submission of online application.

It's simple. But what will happen if one doesn't get registered?

More than anything, getting registered is for one's own benefit. If one is liable to take registration but don't get registered, one will not be able to enjoy the benefit of input tax credit. Not only he/she, but any registered person, purchasing from him/her may not be able to get the input tax credit. Not obtaining registration, though liable to do so, would also attract penalty.

Getting registered would lead to growth in one's business. Prospective buyers, who are registered under GST, will prefer to buy from suppliers who are also registered under GST, as this would entitle them to the input tax credit. This also means that one is contributing his bit towards nation building, by ensuring that appropriate taxes are collected and paid to the Government. Therefore, traders are requested to register under GST immediately without wasting any more time.


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