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GST Rollout : Composition scheme on GSTN portal from Today

GST Bill

New Delhi, July 5 : Businesses could opt for composition scheme on the Goods and Services Tax Network (GSTN) portal from today onwards.

Under the Goods and Services Tax (GST) framework, traders have to register with GSTN  and following this they will be granted a provisional ID which can be used for transactions and filing tax returns.

The registration facility for input service distributors (ISDs) will commence from Wednesday  and that of TCS  and TDS deductors will open some time after July 20, GSTN Chairman Navin Kumar told news agency PTI.

“More than 3.58 lakh new registrations have come in since June 25. Also, more than one lakh existing excise, service tax and VAT assessees have migrated to the GSTN portal in the last 10 days taking the total migration tally to nearly 68 lakh,” Kumar added.

Wefornews Bureau 

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