GET Stock QuotesNews18 APP
News18 English
»
1-min read

'Casual Taxpayer' Registration Goes Live on GSTN Portal

Goods and Services Tax (GST) was rolled out from July 1 and the process of the first return filing in form GSTR-3B for the month for July has already started on the GSTN portal.

PTI

Updated:August 10, 2017, 2:34 PM IST
facebookTwittergoogleskypewhatsapp
'Casual Taxpayer' Registration Goes Live on GSTN Portal
Representative image.(Network18 Creatives)
New Delhi: GST Network on Thursday said it has started the facility for registration of casual taxpayers -- those who conduct businesses occasionally.

A casual taxpayer is a person who occasionally undertakes business transactions in a state/Union Territory where he/she has no place of business.

Goods & Services Tax Network (GSTN) Chairman Navin Kumar said that the registration as 'casual taxpayer' will be valid for 90 days.

A tax payer will also have the option to extend the registration duration once for a maximum of 90 days before the expiry of the initial period for which registration was granted.

"A taxpayer must go for registration as a casual taxpayer at least 5 working days prior to the commencement of business," Kumar said.

Rather than registering as a regular taxpayer and being required to file 'nil' returns during off-business months, casual taxpayers can enroll for a limited period of time, GSTN said in a statement.

After a taxpayer has opted to register as a 'casual taxpayer', a challan has to be generated after giving estimated values of supplies and tax and cess liability during the period of registration.

The taxpayer has to make advance tax payment using the payment modes available at the GST portal, thereby completing the second stage of registration, it added.

"In case such a taxpayer has deposited advance tax but does not wish to continue the business, the taxpayer can apply for a refund at the time of filing application for surrender of registration," GSTN said, adding a casual taxpayer is not allowed to opt for the composition scheme.

Composition scheme allows businesses to pay taxes at a concessional rate and makes tax compliance easy.

Goods and Services Tax (GST) was rolled out from July 1 and the process of the first return filing in form GSTR-3B for the month for July has already started on the GSTN portal.

Also Watch

Read full article
Loading...
Most Active
Company Price Change %Gain
UPL 632.10 +82.50 +15.01
Bajaj Finance 2,755.80 +34.45 +1.27
HDFC Bank 2,156.45 -32.60 -1.49
Bajaj Auto 2,684.15 -155.45 -5.47
PC Jeweller 93.70 +11.80 +14.41
Company Price Change %Gain
Dewan Housing 610.10 -4.10 -0.67
PC Jeweller 93.80 +11.90 +14.53
UPL 631.65 +81.40 +14.79
Just Dial 555.70 -24.00 -4.14
Bajaj Auto 2,689.10 -152.00 -5.35
Top Gainers
Company Price Change %Gain
UPL 632.10 +82.50 +15.01
Vedanta 211.60 +9.20 +4.55
Bharti Airtel 358.95 +13.55 +3.92
Bajaj Finserv 6,923.10 +259.15 +3.89
ITC 284.15 +10.15 +3.70
Company Price Change %Gain
Vedanta 211.55 +8.95 +4.42
Adani Ports 384.05 +14.15 +3.83
ITC 283.85 +10.40 +3.80
Bharti Airtel 357.60 +12.05 +3.49
ICICI Bank 274.85 +8.85 +3.33
Top Losers
Company Price Change %Gain
Hero Motocorp 3,165.45 -211.50 -6.26
Bajaj Auto 2,684.15 -155.45 -5.47
Wipro 276.45 -6.55 -2.31
Grasim 921.40 -17.70 -1.88
Tech Mahindra 648.55 -10.90 -1.65
Company Price Change %Gain
Hero Motocorp 3,163.90 -209.25 -6.20
Bajaj Auto 2,689.10 -152.00 -5.35
Wipro 276.05 -7.00 -2.47
HDFC Bank 2,157.75 -32.35 -1.48
ONGC 156.50 -1.35 -0.86
Loading...
Loading...