Aiming to speed up GST implementation, the government today directed businesses to register for the Goods and Services Tax (GST) regime by July 30. The government has also made it clear that businesses that have less than Rs 20 lakh turnover and those that deal exclusively in exempted goods and services will not be required to register for GST. A statement issued by the Finance Ministry read, “As per the GST laws, one is required to take registration on or before July 30, 2017. All traders are requested to register now without waiting for the last date.”
To encourage registration under GST, the government also pointed out to the benefits of registering for GST. The government said that after GST registration, input tax credit can be channeled through the value chain and the subsequent taxes will automatically come to the exchequer. The government asked businesses to register for GST without wasting any more time. Businesses that have already registered for GST have been provided with provisional IDs. Once they complete the registration process by September 22, these businesses will be given unique GSTIN. The government said that registrations can easily be done online by vising the government’s GST website.