Existing taxpayers of VAT, service tax and excise will be migrated to GSTN soon

Beginning next month, the Goods and Services Tax Network (GSTN) will start migrating over 80 lakh taxpayers onto its system. This will facilitate the smooth implementation of the GST regime. “The first part of our software will be ready by end October. Existing taxpayers of value added tax, service tax and central excise will be migrated to GSTN,” said Navin Kumar, Chairman, GSTN.

                                                                                                                                                                            Identities to be issued

In an interview to BusinessLine, he said the GSTN will begin issuing GST identity numbers (TIN) and generating passwords for these taxpayers. “They can log on to our system, familiarise themselves [with it] as well as provide us relevant information,” he said. The GSTN, which will provide the IT infrastructure for the new indirect tax levy, has already received a list of all the taxpayers, their Permanent Account Numbers (PAN), names of the business entities, and their constitution or form from the tax authorities.

Requirements

On receiving their ID and passwords, taxpayers will be expected to log on to the GSTN and provide three additional inputs — place and address of business, name(s) of directors or proprietors, and details of bank accounts — which will become part of the GST records.

“Though the taxpayers will have time up to six months after the roll out of GST to provide this information, but we thought we will give them an opportunity to come on the system now itself and familiarise themselves,” said Kumar, adding that annually about four lakh new taxpayers are estimated to enrol on the IT network.

He also expressed confidence that the GSTN will be ready to meet the roll-out target of the indirect tax levy from April 1, 2017. “We will have a beta run from the end of February to end March and will go live from April 1,” he stressed.

Read Full :-http://www.thehindubusinessline.com/economy/taxpayers-to-get-a-feel-of-gst-next-month/article9111652.ece

Cabinet approves creation of GST Council and its Secretariat

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approved setting up of GST Council and setting up its Secretariat as per the following details:

Due date of Filing Return under DVAT extended

In partial modification to this department's Circular No. 11 of 2016-17 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48  along with required annexure/enclosures

Goa is the 15th State Assembly to ratify the GST Bill

The Goa Legislative Assembly on Wednesday unanimously passed a resolution ratifying the amendments to the Constitution to pave way for the presidential assent to the Goods and Services (GST) Bill, 2016.

Chief Minister Laxmikant Parsekar said that Goa is the 15th State Assembly to ratify the Bill. With this, 50 per cent of States have passed the Bill paving way for the presidential assent, he said.

The resolution ratifying the Bill was passed at a specially convened one-day session after a two-hour long discussion, where legislators raised concerns over the possible revenue-loss the State could face, in view of that fact that it is primarily a service-oriented State and not a manufacturing destination.

Chief Minister Laxmikant Parsekar, however, sought to allay apprehensions saying that Goa, being a consumption destination, will benefit from the GST.

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Registration under Proposed Model GST Law

Who is required to get registered under GST?

1.    Any person who carries on any business whose turnover exceeds threshold limit.

Threshold limit has been proposed Rs nine lakhs of aggregate turnover in a Financial year. (Rs. Four Lakhs if the taxable person conducts his business in any of the NE States including Sikkim).

2.    Tax payer who is already registered under the present law (i.e. Excise, service tax ,VAT/CST etc)

3.    Transferee of a business of registered tax payer

4.    Persons making any inter-State supply

5.    Casual taxable persons

6.    Persons who are required to pay tax under reverse charge

 When is to require to get registration?