29th April 2017
GST will be on roll out in early Monsoon. People are ready to face the challenge which they will face after GST will be implemented. There has been report that the tax payers are asked to register with the GST Network to the earliest Since as only 34 per cent of the existing service tax assessees have so far migrated to the new payment portal.
In India there are around 80 lakh VAT, excise and service tax assesses including 75 percent of VAT and 73 per cent of the central excise. People have switched to the GSTN. Sources have said that the department is very much involved with work and asking people for migration to the new regime
Advertisement have been issued by the Zonal Offices of the service tax department. The department has said that duty or tax credit under existing laws cannot be issued unless you enrol in the GST portal. There has been an addition that the provisional ID and password will be available for assessees on the ACES portal.
Provisional ID and password would be cancelled in case you deny your credit migration to the GST regime. Some may not require GST registration below the threshold of Rs 20 lakh for the levy. Since with the VAT and service tax assessees with turnover of Rs 10 lakh are required to get themselves registered with states and the Centre, respectively.
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