GST registration to reopen on June 25, 2017
GST registration to reopen on 25th June, 2017
With the second round of GST enrollment which is set to end tomorrow i.e. 15th June, 2017 (Thursday), The company which is providing IT backbone for GST system, said it will re-open enrollment on 25th June,2017 to allow all taxpayers to smoothly complete the process. GST Registration with the GSTN is necessary for doing business in the Goods and Services Tax (GST) regime as businesses will have to upload monthly outward/ inward supplies data as well as file return forms on this portal.
There’s one more chance coming your way as the GST registration for existing excise, service tax and VAT payers will reopen. We have told the businesses that if you do not complete the migration process you cannot issue invoices.
There are about 80 lakh existing taxpayers under excise, service tax and VAT assesses, of which 64.35 lakh have already migrated to the portal of GST Network. Out of which around 60.5 lakh taxpayers had successfully completed the GST registration procedure in the 1st round which ended on 30th April, 2017. .
GSTN Chairman Navin Kumar said,
- People should not panic. If you are left out, you will get another opportunity because the law says anybody who is registered under taxes which are subsumed under GST if they have a valid PAN then they will be given a valid registration.
- We realize that when we are implementing a change of this magnitude, taxpayers must be given sufficient time and opportunity to smoothly join the new online platform that will usher in a unified tax structure.
- He also sought to allay concerns of businesses who have not registered so far saying that the tax department is “obligated” to provide them smooth transition into the GST regime but traders should also come forward and complete the registration process by filling up the application form.
- Already, a majority (64.35 lakhs) of taxpayers have enrolled themselves for the GST. Yet, those who might still be left due to any circumstances or technical inability need not panic with the closing of this window as we will open another round of enrollments from 25th June,2017.
- GSTN is working overtime to ensure there are no hiccups in GST implementation. The GSTN has set up a robust portal already equipped to handle as many as 3.2 billion transactions every month.
- GSTN has sent e-mails to over 30 lakh assesses who have not completed their registration process to make them ready by the scheduled roll out date of 1st July,2017 who have not completed the second stage of registration as they are having trouble uploading either the digital signature(DSC) or getting electronic verification code(EVC). In the e-mail, we have asked them to complete the registration by filling up the required documents and saving them on the portal. The GSTN will then e-mail them the Application Reference Number (ARN) after 15th June,2017.
Businesses with turnover above Rs. 20 lakh have to register with the GSTN. Those with turnover below this threshold too have to register if they want to claim input tax credit. he also added that all assesses would not migrate to the GSTN portal as businesses with turnover of upto Rs. 5 lakh are currently exempt from VAT. And in GST turnover upto Rs. 20 lakh is exempt, so all of the VAT assesses would not migrate to the GSTN. However, if they supplying to other businesses or if they want to pass on the credit, then registration of business would be necessary.
Compiled by CA Ankita Khetan
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