GST Network to launch registration portal from Nov’16

GST Network to launch registration portal from Nov’16

Goods and Services Tax Network (GSTN), the company tasked with setting up the information technology backbone for the ambitious indirect tax reform, will open a website for the registration of taxpayers such as traders, manufactures and service providers in November.

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, we will be opening a portal for existing taxpayers. Login IDs and passwords will be given to the taxpayers. They can log in and fill in details like their place of business and other such information,” said Navin Kumar, chairman of GSTN. “Even new taxpayers will be able to enrol at a later date through this portal.”

Last month, the GST council finalized the revenue threshold levels below which traders will be exempted from levy of GST. It was decided that all assessees with annual revenue below Rs20 lakh will be exempted from GST. The threshold is Rs10 lakh for 11 special category states—the north-eastern and the hill states. Further, the council also finalized the revenue levels for a taxpayer to opt for the compounding scheme. Small traders with revenues of Rs20-50 lakh can pay a flat tax and do away with unnecessary paperwork.

 

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