Traders transition from VAT to GST

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Telangana has started linking local traders with national GST network. The migration of trade from the existing tax structure to proposed Goods and Services Tax (GST) is moving at brisk pace. Against the total 2.4 lakh traders registered under Value Added Tax (VAT) system, the state has already received 1.56 lakh provisional identity numbers from the central GST server. Of which about 25,000 IDs have already been allotted to VAT dealers in the city.

“The unique ID will ensure smooth transition from VAT to GST and we have deployed 840 senior staff to oversee the massive programme of linking traders with the new tax system. We expect the process to be completed by January 13, two days ahead of the deadline given by the Centre,” Somesh Kumar, principal secretary of commercial taxes told TOI.

Telangana has been allocated the GST code number of ’36’ and traders will get a 15-digit unique ID and password to pay their tax online. After registering their ID, traders have to fill up a form provided by the central server explaining the business activity, turnover, services offered and manpower. After examining data, the tax structure will be worked out. If the trader has any objection, he can reach out to officials of nodal agencies operating in the state capital.

 

source : cainindia.org

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