Businessmen will have to ensure their enrolment and migration to goods and service tax (GST) regime is completed by June this year. If not, transactions after that may be deemed illegal under the law, said the chief commissioner of central excise, customs and service tax AK Pandey. He was addressing a seminar on GST at Institute of Chartered Accountants of India’s (ICAI), Nagpur branch. The GST regime is expected to be implemented from June this year.
The department is holding a three-day camp at ICAI Bhavan for registrations under the new tax law. Enrolment has begun by both state’s sales tax department and central excise of the centre. A business entity getting enrolled through any one of the departments need not get it done again, said Pandey.
In the Nagpur central excise commissionerate, which covers entire Vidarbha as well as Aurangabad, over 9000 registrations have been completed. A majority of registrations are of service tax payers. There are around 12,000 service providers registered under the old regime, of which 9,000 have enrolled under GST. The number of manufacturers covered under central excise is much less at 234, half of the entities have enrolled so far, he said.
Pandey said there were certain cases where a single entity had taken multiple registrations under central excise or service tax. Such duplications needed to be done away with so that a realistic figure was reached, he said.
The department is holding a three-day camp at ICAI Bhavan for registrations under the new tax law. Enrolment has begun by both state’s sales tax department and central excise of the centre. A business entity getting enrolled through any one of the departments need not get it done again, said Pandey.
In the Nagpur central excise commissionerate, which covers entire Vidarbha as well as Aurangabad, over 9000 registrations have been completed. A majority of registrations are of service tax payers. There are around 12,000 service providers registered under the old regime, of which 9,000 have enrolled under GST. The number of manufacturers covered under central excise is much less at 234, half of the entities have enrolled so far, he said.
Pandey said there were certain cases where a single entity had taken multiple registrations under central excise or service tax. Such duplications needed to be done away with so that a realistic figure was reached, he said.
Source : The Times of India