Small business owners alert! Secure your GST registration in just 3 days; check details
Small and low-risk enterprises will soon be able to secure their Goods and Services Tax (GST) registration in just three working days. The GST department is introducing a simplified registration route for small and medium businesses, which becomes operational from Saturday.
Under the new system, applicants categorised as low-risk, based on the GST network’s data analytics, or those who self-declare that their monthly output tax liability will not exceed Rs 2.5 lakh (covering CGST, SGST/UTGST and IGST) can choose to register through the scheme. Businesses will have the flexibility to opt in and exit voluntarily.The decision to introduce the fast-track mechanism was cleared by the GST Council, which includes finance ministers from the Centre and all states, during its meeting on September 3.During the inauguration of the CGST building in Ghaziabad, finance minister Nirmala Sitharaman said that the simplified GST registration framework taking effect on November 1 is expected to cover almost all new applicants. “Task of the field formation is to operationalise it and ensure that there are no friction in the process,” Sitharaman had said.She also instructed the Central Board of Indirect Taxes and Customs (CBIC) to establish a dedicated help desk at GST Seva Kendras to guide applicants through the registration process.Currently, more than 1.54 crore businesses are registered under the GST regime.
