NSE Asks Trading Members to Upload GSTIN by July 25

Posted By: Religare
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Top stock exchange NSE has asked trading members to submit their goods and services taxpayer identification number (GSTIN) in electronic format by July 25, reported PTI.

NSE Asks Trading Members to Upload GSTIN by July 25

In case of the failure to upload the GSTIN within prescribed timeline, the exchange would issue invoice for taxable services without the requisite registration number, which could consequently result in "loss of input tax credit" for the trading member.

"On perusal and review of the status of GSTIN submitted by the members so far, it is observed that some of the members have not yet uploaded/intimated their GSTIN on the ENIT (Electronic NSE Interface for Trading Members)- New Compliance," NSE said in a circular.

"Members are hereby, once again requested to update their GSTIN for address on record latest by July 25, 2017," it added.

According to the exchange, transactions (invoice issued without GSTIN on record) would be considered and uploaded on GST portal "as supplies to unregistered dealer and accordingly could result to loss of input tax credit thereof, as applicable".

"Also, any submission of GSTIN post July 25 shall be considered for prospective invoicing and would not entail any amendments in the invoices already issued / reported to GST portal," it added.

GST, which ushers the country into a single tax regime, came into effect from July 1, this year.

Read more about: nifty, sensex, gst, stocks, nse, bse
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