As all of us are aware of the implementation of GST in India for the first time, the businesses are required to get registered with the GST portal. If you are late and have not got yourself registered with the portal yet, you should not worry as here is a golden chance to get enrolled for GST. The window is open till June 15, 2017. And if you are still not able to make it the window reopens on June 25, 2017.
The first phase for the enrollment has already closed and government has re-opened the window for a period of 15 more days only for the taxpayers who were late to register. The window is opened up to 15th June, 2017. And will reopen on 25th June 2017. So grab the chance and get yourself registered with GST before it’s too late as it’s already late.
A top official from GSTN advised people to not to be panic as those left out will get another opportunity. According to law, anyone registered with existing indirect taxes that are subsumed under GST will get a valid registration if they hold a PAN.
The Central Board of Excise and Customs have made it mandatory to get registered with GST portal. This will be required to avail the IGST credit on imports or refund of GST on exports.
Businesses should register before the GST rolls out on 1st July. This is also an opportunity to rectify mistakes made during registration.
To generate an invoice under the new tax regime, a business must be registered with GST.
As per experts transition of credit and inputs in stock are dependent on being registered with Goods and services tax network and having an early registration will make this transition easy.
Only those businesses who operate above a certain limit are liable to register but as per experts, in any case, it is good to register.
Approximately 70% of the taxpayers have got themselves enrolled in the first phase which ended on April 30th.
The process to get registered with GST is online and no paper work is required. The tax payer is required to visit the portal of the Goods and Services Tax. A provisional ID and password provided by the Central Board of Excise and Custom is required. Some documents ID proofs, bank details and photograph are also required to register with GST portal.