GST: Number of registrations on GSTN shoots up

New Delhi, July 19 (KNN) With the implementation of the Goods and Services Tax (GST) from July 1, the businesses and tax payers need to be registered with the Goods and Services Tax Network (GSTN) to maintain transactions under the new tax regime. 

Latest data by the GST reveals that on an average over 35,000 new registrations are taking place every day.

GSTN Chairman Navin Kumar informed about the numbers in a press interview.

According to the statistics, ever since the portal was reopened for registration on June 25 following a three month extension period for businsses to register, so far 7.4 lakh new registrations have been done on the GSTN.

The positive trend in the number of registrations is being seen as a good indicator as more and more businesses are keen to be a part of the new tax regime.

Also GST helplines and helpdesks launched by different industry associations including the Federation of Indian Micro and Small & Medium Enterprises (FISME), Indian Industries Association (IIA) and Federation of Small and Medium Industries (FOSMI) along with others,  have been assisting the industry to register with the GST portal. (KNN/ DA)