80 Thousand Dealers Yet to Go through GST Migration Process

The registration process for GST migration has been in full swing but despite the fact that the State government needed merchants paying VAT (value added tax) to move to the Goods and Services Tax administration by January 15, about 80,000 merchants are yet to fall in line. A devoted group of officers had been working in the division to assist merchants paying VAT with migrating to GST told Commissioner of Commercial Taxes M Chandrasekhara Reddy.

Altogether, 1.50 lakh out of 2.30 lakh merchants had relocated effectively and they had gotten the IDs to sign into the GST Network entrance. This group had been clearing the questions of the merchants concerning enrolling with the GST Network entry of the Center for moving to GST. Moving to GST was required. Subsequently, merchants subject to pay GST ought to make utilization of the offices being given by the Commercial Taxes Department.  The group presently helping merchants would be pulled back soon.

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The Center was firm on executing the Goods and Services Tax in the nation from this year, however, the begin date was yet to be affirmed. Reddy also added that the Center had given Telangana the schedule opening from January 1 to 15 for the relocation of merchants paying VAT to GST, while a few merchants were still hesitant, some couldn’t move as they didn’t have PAN numbers. Despite the fact that the Center needed to actualize GST from April 1, the procedure may be put off by three months. Merchants paying VAT are incredulous about the date of execution and sitting tight for affirmation from the Center.

A business specialist said that with GST little agents having a turnover of not as much as Rs 20 lakh would get an exception from paying the tax. As indicated by tenets, agents who have a yearly turnover of Rs 20 lakh would go under the GST net. Under VAT framework, specialists who having a turnover of Rs 10 lakh or more for every annum should pay VAT.

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Merchants have been encouraged to get themselves enrolled at earliest and acquire client ID to sign into the system. Subsequent to acquiring the client ID, they ought to likewise transfer the imperative reports to the site for finishing the enlistment procedure. The authorities of the Commercial Taxes Department said that as the PAN number would be added to the record of the business people, they couldn’t cheat the legislature in paying income tax. Authorities of the Commercial Taxes Department said that it would be better for merchants paying VAT to join the GST Network through the current online process and in this way maintain a strategic distance from the inconveniences of a minute ago surge, and with this there are still a better chance for government to easily convert all the dealers into GST structure peacefully.