Availing latest migration window, 1,800 businesses migrate to GST regime

About 1,800 businesses that were registered under the earlier VAT and service tax regime have applied for migrating to the GST regime.

The GST Council, in its meeting in July, had allowed businesses with provisional GST ID to migrate to the new GST regime.

The Central Board of Indirect Taxes and Customs (CBIC) had then asked these taxpayers to approach the jurisdictional nodal officer of the Central or state government on or before the August 31, 2018, along with provisional ID, registration number under the earlier law, reason for not migrating in the system, along with the contact details.

“About 1,800 businesses have migrated to GST regime availing the latest migration window. The number could go up as the state tax officers are still compiling data,” an official told PTI.

Currently, over 1.15 crore businesses are registered under the GST regime, of which 63.76 lakh have migrated from the erstwhile service tax and VAT regime, and over 51 lakh are new registrants.

“The migration window since November 2016 and closed after roll out of GST on July, 2017. Many taxpayers would have migrated when the window was open initially before GST roll-out. Hence the turnout for migration would have been less this time,” the official added.

Watch Zee Business video here:

The process of migration of existing assessees to the GSTN had started in a phased manner from November 2016.