MSMEs to get 'last chance' to join the GSTN: Navin Kumar

New Delhi, May 3 (KNN) The latest statistics reveal that out of 80 lakh registered assessees, there is a big number of traders who have not registered for the Goods and Services Tax Network (GSTN). Around 19 Lakh traders are yet to register themselves at the Good and Services Tax Portal.

The Government is considering giving the units one more chance before the expected date of implementation of GST i.e. July 1^st.

GSTN is the private body constituted to provide network support in the upcoming tax regime

The GSTN earlier have extended its deadline tice. Navin Kumar, GSTN Chairman said to media that a small window before July 1 will be provided with an aim to bring the remaining 20 lakh traders on board.

He further spoke on the need to have a well-equipped mechanism driven on technology. To address this he said that it is important for the traders’ community to be well informed about the system.

The Data indicates that the big businesses have successfully enrolled for the new tax regime, while the MSMEs are the ones that lag behind. One of the reasons behind this could be the repeated demands of the MSME bodies to the GST Council requesting the extension of the GST implementation date citing complications in compliance as the reason.

Different MSME bodies including the Gujarat Traders Federation and the Indian Industries Association have written to the GST council and the finance ministry voicing concerns regarding the GST. (KNN/ DA)