Goods Service Tax Registration Number
a website for the gst registration number of existing taxpayers such as traders, manufactures and service providers shall be opened by Goods and Services Tax Network (GSTN) on 8th November 2016. GSTN is the company tasked with setting up the IT backbone for GST reform in India
The existing taxpayers will be able to access the website and submit the necessary information for registering with the tax network to ensure seamless tax payment, returns and refunds under GST.
Beginning November, GSTN will be opening a portal for existing taxpayers. Login IDs and passwords will be given to the taxpayers through the portal. They can log in and fill in details like their place of business and other such information. Even new taxpayers will be able to enrol at a later date through this portal.”
As per GSTN Officials, on this date (November 8), all the enrolments will be on GSTN portal. This means getting these existing eight million assessees on to GSTN system. This move will help businesses do business without any hassle from April 1 next year, which is the likely GST implementation date.”
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The GST registration number (GST) Council has decided that businesses in the North-eastern and hill states with annual turnover below Rs.10 lakh would be out of the GST registration number net, while the threshold for the exemption in the rest of India would be an annual turnover of Rs.20 lakh.
Further, GST council also finalized the revenue levels for a taxpayer to opt for the compounding scheme. Small traders with revenues of Rs.20-50 lakh can pay a flat tax and do away with unnecessary paperwork.
GST registration number is expected to remove barriers across states and integrate the country into a common market. It will subsume most of the indirect taxes levied by the centre and the states, including excise duty, service tax, value added tax, entertainment tax and luxury tax. It will put the entire tax process online—right from registration, tax payment and tax return filing to refunds, audits and assessments.
GSTN has already launched a developer portal named www.developer.gstsystem.co.in for IT firms that want to develop GST-based applications for future GST compliances.
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volody Business Solutions Private Limited is an active member of GSTN GSP Suvidha Providers Eco System and is already working on building Goods and Service Tax software in order to enable the taxpayers a smooth transition to GST regime. The portal to check Goods and Service Tax number shall be released on 8th November, 2016. We shall provide you detailed step by step procedure to get your Goods and Service Tax number on release date only. Please come back and check our website again on release date. Currently ConsutLane is a leading player in providing cloud based softwares to Chartered Accountants, Company Secretaries and Lawyers.