New Delhi,
The latest statistics reveal
that out of 80 lakh registered assessees, there is a big number of
traders who have not registered for the Goods and Services Tax Network
(GSTN). Around 19 Lakh traders are yet to register themselves at the
Good and Services Tax Portal.
The Government is considering giving the units one more chance before the expected date of implementation of GST i.e. July 1st.
GSTN is the private body constituted to provide network support in the upcoming tax regime
The GSTN earlier have extended its deadline tice. Navin Kumar, GSTN
Chairman said to media that a small window before July 1 will be
provided with an aim to bring the remaining 20 lakh traders on board.
He further spoke on the need to have a well-equipped mechanism driven
on technology. To address this he said that it is important for the
traders’ community to be well informed about the system.
The Data indicates that the big businesses have successfully enrolled
for the new tax regime, while the MSMEs are the ones that lag behind.
One of the reasons behind this could be the repeated demands of the MSME
bodies to the GST Council requesting the extension of the GST
implementation date citing complications in compliance as the reason.
Different MSME bodies including the Gujarat Traders Federation and
the Indian Industries Association have written to the GST council and
the finance ministry voicing concerns regarding the GST.
05 May 2017, 06:01 AM