The implementation of the GST Law from 1st July 2017 seems to be certain. All the existing Assessee under Central Excise, Service Tax and VAT is required to migrate into the GST. With a view to support the Government initiatives and for the benefit members, Indirect Taxes Committee of ICAI has also launched a short video lectures on the process of migration and its benefits which is available at https://youtu.be/Cc9UgEIKdFg.
Earlier migration to GST would prove beneficial to the assessees as it will help in safeguarding of business continuation, smooth carry forward of credit balances, checking the eligibility of credits relating to existing laws under GST etc. Sooner the migration lesser are the transitional issues that are expected to be faced.
Members may visit the above link and advise their client for early migration into GST system. It may also be noted that CBEC has launched simple PPT which is step by step guide for Migration process which is available at https://goo.gl/ygxPpt. A GST enrollment process is also available at https://goo.gl/jlUUYC. A Video Tutorial guiding GST Migration is available at http://tutorial.gst.gov.in/
For any further assistance, please visit www.idtc.icai.org. You may reach us at idtc@icai.in or call on 0120-3045954 for further queries.
