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25K traders to get GST registration
About 25,000 traders whose annual turnover is between Rs 20 lakh to Rs 75 lakh, will fall under the Composition Levy Scheme, must get GST registration by August 16. Traders whose turnover is below Rs 20 lakh need not require GST registration and the government also announced date for cancellation of GST registration till September 30. Earlier, rice millers and dal millers were under the purview of
Vijayawada: About 25,000 traders whose annual turnover is between Rs 20 lakh to Rs 75 lakh, will fall under the Composition Levy Scheme, must get GST registration by August 16. Traders whose turnover is below Rs 20 lakh need not require GST registration and the government also announced date for cancellation of GST registration till September 30. Earlier, rice millers and dal millers were under the purview of tax net.
The State government used to collect the tax from rice millers. Now, both rice millers and dal millers are exempted from the GST. They can cancel their registration before September 30. A senior GST official said on Wednesday, about 25,000 traders will fall under the Composition Levy Scheme in Andhra Pradesh and they must take GST registration by August 16.
Interestingly, traders selling various products must display two MRP stickers on the products, which were packed long ago. With the implementation of GST from July 1, the prices of many products changed. The prices of some products increased and prices of some products fell as per the government norms.
The government issued orders to paste two MRP stickers on the products so that the consumers will know the price variation in the pre-GST and post-GST. Departmental stores and big shops, which fall under the Composition Levy Scheme must follow the new rule for one or two months.
Confusion prevailed among traders on sale of old stocks, which have printed MRP details long time ago. So, the government has asked the traders to paste stickers with new MRP prices for the convenience of customers. When the government slashed the prices of many products, why the customers pay high price asked the official.
Meanwhile, traders are gearing up for GST and ordering for new bills which contains the details of State GST, Central GST and IGST. The Central government has divided GST into three categories and collecting taxes. Consequently, the traders are preparing new bills as per the GST needs.
By Md Ameen
