CBIC issues procedure for payment of GST by non-registered entities

LegalitySimplified

Ministry of Finance vide notification dated 9th May, 2023 has provided that an entity who commences new business or crosses threshold for GST registration during any Financial Year, may exercise the option to itself pay GST on the services supplied by it during that Financial Year.

It shall make a declaration before the expiry of forty-five days from the date of applying for GST registration or one month from the date of obtaining registration whichever is later.

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