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  • Tax Matters: What is way out for those who have not registered for GST?

    Those left out will get another opportunity because the law says anybody who is registered under taxes that are subsumed under GST will be given a valid registration

    As I had apprehension about implementation of the goods and services tax (GST) from 1 July, 2017, I did not register. Did I miss the bus?

    — Hansraj, email

    The process of migration of existing tax payers to the GST Network (GSTN) started in a phased manner from November 2016. The Centre had earlier set 31 March 2017 as the migration deadline. It was later extended to 30 April. The registration window was kept open from 1 to 15 June.

    If you did not register on the GSTN within the deadline, do not panic. There is one more chance as the registration for existing excise, service tax and value-added tax (Vat) payers will reopen on 25 June.

    There are about 80 lakh excise, service tax and Vat payers at present. Of these, 80% have already migrated to the GSTN portal, the IT backbone of the GST regime. Not all tax payers need to migrate to the GSTN portal as businesses with turnover of up to Rs 5 lakh are currently exempt from Vat.

    As businesses with up to Rs 20 lakh in turnover are exempt from GST, all Vat payers will not migrate to the GSTN. However, if they are supplying to other businesses and if they want to pass on credit, then registration of their business is required.

    GSTN Chairman Navin Kumar has allayed concerns of businesses that have not registered so far as the tax department is "obligated" to provide them smooth transition into the GST regime. He said there should not be any panic. Those left out will get another opportunity because the law says anybody who is registered under taxes that are subsumed under GST will be given a valid registration if they have a valid permanent account number (Pan). So, it is the tax department’s obligation to give provisional GST registration provided the applicants have Pan. Those who have missed registering can come back on 25 June. Traders should come forward and complete the registration process by filling the application form.

    When a business registers under GST, it is given a provisional Goods and Services Tax Identification Number (GSTIN). In the second stage, the business has to log in to the GSTN portal and give details such as the main place of business, additional place of business, directors and bank account details. The business has to verify its registration through digital signature or by generating an electronic verification code (EVC).

    Many have not completed the second stage of registration as they faced trouble uploading the digital signature or getting EVC. If the migration process is not completed by a business, they cannot issue invoice.

    Registration with the GSTN is necessary for doing business in the GST regime as businesses will have to upload monthly sales data as well as file return on the portal. GST registration reopens on 25 June 2017 and continues for three months, as per Rules. The deadline for GST registration has been extended till 30 September 2017 to give an opportunity to the tax payers who could not migrate to GST so far. Also, tax payer who had enrolled but could not digitally sign the enrolment form can also now complete the process of enrolment. The Central Board of Excise and Customs has announced that the Aces website will re-issue provisional IDs and passwords latest by 25 June to those registered with Central excise and services tax whose passwords were cancelled due to not being used or activated.


    How will the goods and service tax (GST) registration application made on or after 1 July 2017 processed?

    — Pooja, e-mail

    Applications for registration of GST have to be filed on-line through the common portal GST Network (GSTN). Supporting documents are to be scanned and uploaded through the common portal. There is no physical interface between the tax payer and tax officials.

    The applications are forwarded to the Central and state tax authorities as per GST law and defined algorithms. The applications are routed to the concerned central processing cell (CPC) zone based on the address of the principal place of business.

    New GST registration applications are to be processed at the zone-level by CPC. Each zone-level CPC will contain a group of officers for approval or rejection of registration applications of the zone.

    The CPC officer will verify that the supporting documents match with the data entered by the tax payer. If any discrepancies are noticed, query is raised to be responded by the tax payer through GSTN portal. The CPC officer can either approve or raise a query within three days. If a response to the query is not received within seven days or the response is not satisfactory, the officer can reject the application.

    The CPC officer assigns jurisdiction to commissionerate-division-range (CDR) while approving or rejecting the application. It is communicated to GSTN and the jurisdictional officer. The CPC officer assigns only the CDR to applications of migrated tax payers (Form GST Registration No 26) and then pushes the applications to the jurisdictional officer for approval or cancellation of provisional registration. The role of the CPC officer ends here.

    Once the registration application is assigned the CDR, the jurisdictional officer of the CDR is able to view the registration certificate and the application. The jurisdictional officer can reassign the registration to a proper CDR if he feels the tax payer does not fall under his jurisdiction. Thus, it is ensured that registration requests are processed quickly and within statutory timelines. Also, tax payers do not have the burden of picking the right jurisdiction. Technical support is provided.


    Out of abundant caution I opted for migration to the goods and services tax (GST) regime in March 2017. But now I feel that I may not be liable to GST. So how should I go about it?

    — Kinjal, e-mail

    On and from the appointed day, every person registered under any of the existing laws and having a valid permanent account number (Pan) will be issued a certificate of registration for GST on provisional basis, subject to conditions as may be prescribed. Unless replaced by a final certificate of registration, the provisional registration will be liable to be cancelled if the conditions prescribed are not complied with.

    The certificate of GST registration issued to a person is deemed to have not been issued if the registration is cancelled following an application filed by such person that he was not liable for registration for GST under Section 22 or 24 of the GST Act.

    Every person registered under any of the existing laws, who is not liable to be registered under the GST Act, should submit an electronic application in Form GST REG-29 within 30 days of the appointed day on the common portal for cancellation of the registration granted to him. After conducting an enquiry as deemed fit, the proper officer can cancel the said registration.


    Provide me a brief to-do list in the goods and services tax (GST) regime.

    — Vatsal Pandey, e-mail

    Your should have completed your working of closing stock (with quantity) for the period up to 31 March 2017 or 30 June 2017 before the GST implementation date of 1 July 2017. Make a separate file of those items that are shown in your unsold stock as on 30 June .2017. For example, purchase bills, bill of entry or excise-paying documents for claim of credit.

    Classify the stock purchased locally as per the tax rate to get input tax credit (ITC) into state GST (SGST). Classify stock purchased based on invoices bearing duty payment and non-duty payments to get ITC transferred to Central GST (CGST). 

    Keep handy details of goods sent to job worker or agent on migration date. File Form Trans 1/02 to avail transition credit. Get the account statement from your suppliers or creditors for the year ended 31 March 2017 to rectify mismatch, if any. Finalise books for the financial year ended March 2017. Inform your GST identification number (GSTIN) or application reference number (ARN) to all suppliers of goods and services. Obtain GSTIN of all suppliers and buyers. 

    Obtain registration under GST. Apply for migration in all states if you have centralised registration for service tax. Train your accountants in GST accounting and returns formats. Make a chart of harmonized system nomenclature (HSN) codes and GST rates on the goods and services to be purchased and sold.

    Ascertain stock ageing to determine if any stock is more than a year old. If so, then dispose it of immediately or sell it to your sister concern against local tax invoice. Analyse the profit and loss (P&L) statement and see which expenses are liable to reverse-charge mechanism. Update your software or app to make it GST-compliant.

    Finalise new invoice and debit and credit note formats so as to cover all disclosures as per GST. Agreements and contracts entered into need to be revisited and altered to make them GST-compliant. File the last value-added tax, excise or service tax return carefully so as to enable correct carry-forward of credit. Undertake strict follow-up to collect all the C, H and I forms. Be in regular touch with your GST consultant.


    Can you throw some light on the bonus stripping provision in Section 94 of the Income Tax (IT) Act, 1961?

    — D K Bagaria (CA), e-mail

    Bonus stripping provision was inserted from assessment year 2005-06 (financial year 2004-05) to curb the practice of creation of losses. Briefly, the loss, if any, arising to a person on account of purchase and sale of original units is to be ignored for the purpose of computing his income chargeable to tax if the tax payer buys or acquires any unit of a mutual fund or units of the Unit Trust of India within three months prior to the record date. He is allotted additional units, i.e., bonus units without any payment on the basis of holding of such units on such date and such person transfers or sells all or any of the original units except bonus units within a period of nine months after such record date but continues to hold all or any of the bonus units.

    All these conditions have to be cumulatively fulfilled to attract Section 94 (8) of the IT Act. Once section 94 (8) is attracted, then the amount of loss arising to the tax payer on account of purchase and sale of all or any of the aforesaid original units is ignored for computing his income chargeable to tax. The amount of loss so ignored is deemed to be the cost of purchase or acquisition of bonus units as held by him on the date of such sale or transfer.

    Bonus stripping provision applies to both open- and close-ended equity funds. It is applicable even when units are held as stock in trade. These provisions do not apply if all additional units are transferred before the original units are sold. Also, these provisions are applicable only on units and not shares.

    The replies are only in the nature of guidelines. The tax counsellors and the publication are not responsible for any decision taken by readers on the basis of the same. Readers may e-mail their queries on direct taxation to: tax-matters@capitalmarket.com

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Flash News 24-Sep-2018
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