As per sub-section 2 of section 24 of CGST Act, 2017, every person who is registered under the existing indirect tax laws, are required to migrate to the GST law on a before the appointed date (expected date 01/07/2017). The Central government had already provided sufficient time with different due dates (State-wise) for GST migration, starting from December 2016 to March 2017.
Now in order to provide the last opportunity to the persons registered under existing laws, the Central government has opened the window of GST migration process for 15 days starting from 1st June 2017 to 15th June 2017.
Consequence of Non-Migration
If any person who is registered under existing laws, does not migrate to GST regime as per the prescribed procedure before 15th Jun 2017, may face the following kind of consequences:
- He shall not be allowed the input credit of eligible tax paid under GST regime. Apart from above, he may be liable for a penalty for not getting registration in GST.
- The penalty for not obtaining registration may be levied u/s 122 which may be Rs. 10,000/-.
Hence, the person who has not migrated to GST regime earlier, are required to migrate now before 15th June 2017
Process for Migration of persons registered under Existing Laws
Step wise as under (all form/documents or correspondence shall be submitted electronically through digital signature);
- Get the provisional id and password from the website of existing laws.
- Login to the GST web portal https://www.gst.gov.in/
- Fill the form with complete details and attach the required documents.
- A digital signature is a must for GST migration process.
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Please note that above article for education and awareness purpose only. The requirement and provision may change based facts and circumstances. Readers are expected to apply with their will and risk.