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In this article, we are elaborating recent announcement for taxpayers who could not complete the migration process.
Migrated taxpayers being every person who were registered under the old tax regime like VAT, Service tax with a valid PAN number had to obtain GST registration. The earlier time limit for switching was 31st December 2017. This provision is now relaxed only for some taxpayers who could not complete the registration process Under GST, If the aggregate turnover by making taxable supplies in a financial year exceeds Rs. 20 lakhs, one must register under GST for each State. This threshold for North-eastern States, Himachal Pradesh, Uttarakhand and Jammu & Kashmir is Rs.10 lakhs.
Now, the window to complete the registration process as mentioned above has been reopened, and Form GST REG 26 may now be submitted within 31st August 2018. However, the provisional registration should have been obtained within 31st December 2017.