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3,065 traders migrate to GST network in Bhadradri-Kothagudem district
Upon expiry of deadline by January-end, over 3,065 traders have migrated to the Goods and Services Tax Network (GSTN) in the first phase in Bhadradri-Kothagudem district.
Bhadrachalam: Upon expiry of deadline by January-end, over 3,065 traders have migrated to the Goods and Services Tax Network (GSTN) in the first phase in Bhadradri-Kothagudem district.
The GST portal was launched on November 8 to facilitate the migration of traders registered under Value Added Tax (VAT), Service Tax and Central Excise to GST.
Traders whose annual turnover exceeds Rs 20 lakh have been brought under the GST net. Of the 2,239 traders who pay VAT, 2,091 have been brought under the GST.
Similarly, of the 826 traders paying turn over tax (ToT), 810 were brought under the GST net. How many more will come under the GST purview in the second phase will become clear on February 15.
The government is contemplating stringent measures like imposing a fine of seven times the amount to be paid towards tax along with filing criminal cases against the evaders.
Earlier, the fine was limited to twice the amount to be paid as tax. Commercial Tax officials will be given full powers to take stringent action against the evaders.
Meanwhile, the Centre is contemplating measures to amend the relevant laws to take disciplinary action against those traders who fail to register their firm in spite of crossing the Rs 20 lakh limit.
Commercial tax officer L Lalita has said the district has received total tax receipts of Rs 37.94 crore which includes Rs 67 lakh received towards ToT, during April 2016-January 2017.
She said that the department was going to receive Rs 6 crore towards VAT and Rs 12 lakh towards ToT.
A small trader Srinivas said the GST Act gives tax relief to small traders whose annual business turnover is less than Rs 20 lakh.
