Provisions related to registration in GST

 

Provisions related to registration in GST regime

 

 

 

Do you know that as per the GST laws, you are required to take registration on or before 30thJuly, 2017. Don’t wait for the last date. Register now.

 

If you are carrying out any business and have an annual aggregate turnover in the preceding financial year exceeding Rs. 20 lakhs (Rs. 10 lakhs in Special Category States), you need to register in all States/Union Territories from where you are making taxable supplies. However, you need not register if you are engaged exclusively in the supply of exempted goods or services or both.The timelines for applying for registration are as follows:-

 

Registered

 

under

Migrated

Liable

for

Provisional Ids issued need to be

any  of  the  existing

 

 

registration

converted

to

GSTIN

by

law

 

 

 

 

in

GST

submitting necessary documents

 

 

 

 

 

regime

 

in   3   months   (i.e.   by   22nd

 

 

 

 

 

 

 

September 2017)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not

liable

Need to apply for cancellation in

 

 

 

 

 

for

 

30 days (i.e. by 22nd July, 2017)

 

 

 

 

 

registration

 

 

 

 

 

 

 

 

 

in

GST

 

 

 

 

 

 

 

 

 

regime

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not-

 

Liable

for

Need  to  apply  for  registration

 

 

 

Migrated

registration

within 30 days (i.e. by 22nd July,

 

 

 

 

 

in

GST

2017)

 

 

 

 

 

 

 

 

regime

 

 

 

 

 

 

 

 

 

 

 

Not

registered

Liable

for

Become

Need  to  apply  for  registration

under

any

of

registration

liable

from

within 30 days (i.e. by 30thJuly,

existing law

 

in

GST

01/07/2017

2017)

 

 

 

 

 

 

regime

 

 

 

 

 

 

 

 

 

 

 

Become

Need  to  apply  for  registration

 

 

 

 

 

 

 

 

 

 

liable

after

within  30  days  from  becoming

 

 

 

 

 

01/07/2017

liable for registration

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taking registration in GST is a very simple process, and the comfort of the taxpayer has been kept in mind while designing the procedure. You can take registration from the comfort of your home by filing an online application on the common portal https://www.gst.gov.in/.All you need is a valid PAN, email id and a mobile number. Once these 3 details are verified, you will be required to furnish other details relating to your 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, you will receive your registration online within 3 working days from submission of online application.

 

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It’s simple. But what will happen if you don’t get registered?

 

More than anything, getting registered is for your own benefit. If you are liable to take registration but don’t get registered, you will not be able to enjoy the benefit of input tax credit. Not only you, but any registered person, purchasing from you 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’sbusiness.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 iscontributing his bit towards nation building, by ensuring that appropriate taxes are collected and paid to the government.

 

All traders are requested to register at an early date without waiting for the last date.

 

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