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GST: 1-July-2017 approaching, not yet registered, what next?

Any person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as may be prescribed.

Every person who makes a taxable supply of goods or services or both and whose aggregate turnover exceeds the threshold limit of Rs. 20 lakhs (Rs. 10 lakhs in case of Special Category States), in a financial year, is compulsorily required to get itself registered.

However, the following categories of persons shall register compulsorily irrespective of the above-mentioned threshold limit:

a) Persons making any inter-State taxable supply;

b) Casual taxable persons;

c) Persons who are required to pay tax under reverse charge;

d) Non-resident taxable persons;

e) Persons who are required to deduct tax under section 37;

f) Persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise;

g) Input service distributor;

h) Persons who supply goods and/or services, other than branded services, through electronic commerce operator;

i) Every electronic commerce operator;

j) An aggregator who supplies services under his brand name or his trade name; and

k) Such other person or class of persons as may be notified by the Central Government or a State Government on the recommendations of the Council.

What will happen if you do not register for GST before 1-July-2017?

As a business, you do not need to get into a panic if you have missed the GST enrollment deadline at earlier dates. In addition, 1-July-2017 is no deadline to register for GST.

As per recent developments, GST registration dates have been extended. Enrollment window will reopen on 25-June-2017 and continue for 3 months as per rule.

The way forward in different cases is as follows:

What if, we are not registered under GST?

Non-registration in case, when one is liable to be registered, is an offense under the GST regime. In such a case, if a person is not registered he will pay no GST and any offender not paying tax or making short payments has to pay a penalty of 10% of the tax amount due, subject to a minimum of Rs.10,000. The penalty will be high at 100% of the tax amount when there is intentional fraud

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