The government has pressured traders liable for registration under the Goods and Services Tax (GST) regime at the earliest, as July 30 is the last date, failing which would attract a penalty.
The Finance Ministry said “As per the GST laws, one is required to take registration on or before July 30. All traders are requested to register now without waiting for the last date”.
Traders carrying out any business with an annual aggregate turnover in the preceding financial year exceeding Rs 20 lakh (Rs 10 lakh in special category states), need to register in all the states/union territories from where they are making taxable supplies.
If one is liable to take registration but does not get registered, he will not be able to take the input tax credit. Also, any registered person, purchasing from such a trader may not be able to get the input tax credit.
To take the registration, a trader needs to file an online application on the portal https://www.gst.gov.in/ for which a valid PAN, email id and a mobile number is a must.
Once these three details are verified, the trader will be required to furnish other details relating to the business. All necessary documents can be scanned and uploaded. The trader will receive his/her registration online within thee working days from submission of online application.
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