As the date for the implementation of the Goods and Services Tax (GST) nears, anxiety among traders is only rising and the biggest reason of this is lack of information. Despite several campaigns by the Centre, there is still a sense of concern among businesses, the reason being little time for preparation. There have been even reports that some departments of government had asked the Finance Ministry to hold off the launch, a demand promptly rejected. There are hundreds of questions in the minds of people - be it consumers, manufacturers or sellers.
For traders, migration from the Central Excise and Service Tax regime to Goods and Services Tax (GST) is the biggest step. The migration started January 7, 2017. To migrate to GST, assessees would be provided a Provisional ID and Password by CBEC.
Also Read: GST launch: Quick guide to GST registration online and the documents required
Provisional IDs would be issued to only those assessees who have a valid PAN associated with their registration. The assessees need to use this Provisional ID and Password to logon to the GST Common Portal (https://www.gst.gov.in) where they would be required to fill and submit the Form 20 along with necessary supporting documents.
To make your migration to GST easier, a small 2-minute video tutorial by the Central Board of Excise and Customs (CBEC) will answer many of your questions.
Also Read: Goods and Services Tax: Complete list of items and their GST rates
Also Read: All about Goods and Services Tax: What is GST, what it means for India, the rate lists and its impact
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