GST Registration ends on July 30, Penal charges for evaders

NEW DELHI : The government on Saturday urged businesses to register under Goods and Services Tax(GST) regime at the earliest as the deadline of July 30 approaches in less than a fortnight.

“As per GST laws, one has to take registration on or before July 30. All traders are requested to register now without waiting for the last date,” Finance Ministry said it its statement.

Who has to register ?
Any business with an annual turnover exceeding Rs. 20 lakh (or Rs. 10 lakh in special category states) in the preceding year are mandated to register in the state/union territory they pay tax into.

However, those who deal with supply of exempted goods or services or both are not required to adhere to the regime.

If a businessman who is required to register does not oblige, he will become ineligible for input tax credit so will any person purchasing from a unregistered trader.

Further such evasive traders will also attract penal charges, the Ministry statement said

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