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Traders told to register under GST before July 21
Deputy commissioner of GST, Vijayawada, V Ramanadha Reddy, said that July 21 was the last date for the registration under the GST to the traders and taxable persons. He said the traders with less than Rs 20 lakh turnover need not register under the GST as they were exempted from tax.
Vijayawada: Deputy commissioner of GST, Vijayawada, V Ramanadha Reddy, said that July 21 was the last date for the registration under the GST to the traders and taxable persons. He said the traders with less than Rs 20 lakh turnover need not register under the GST as they were exempted from tax.
Talking to reporters at the GST Service office in Auto Nagar, here on Wednesday Ramanadha Reddy said traders with annual turnover of Rs 20 lakh to Rs 75 lakh would come under the Composition Levy scheme and they have register their names with GST before July 21.
“Traders and hoteliers with turnover between Rs 20 lakh to Rs 75 lakh have to file returns every quarter and they were not allowed to collect tax paid or to be paid from buyers,” he stated.
Ramanadha Reddy added that persons under the composition levy scheme must submit five returns in a year (four quarterly returns) and annual return. He said tax collected under the GST would be divided between the state and Central governments equally. He said the Government collects only two per cent tax on manufacturers, five per cent on restaurants and only one per cent on small traders.
