ONE TIME REGISTRATION.

[Sadanand Bulbule]

Dear Experts

Following is the question.

Professional consideration received during 2018-19 has exceeded ₹ 20 lakhs which was ignored due to oversight & registration was not taken. Now the person wants take registration voluntarily for the year 2018-19 and desires to pay applicable GST thereon.

During subsequent years, the consideration received is less than threshold limit prescribed for registration.As such continuation of registration is not required.

Kindly clarify how to take voluntary registration for 2018-19 now and pay GST accordingly. Any specific provisions/notifications for such situations may please be highlighted.

AI Summary

Registration requirement cannot be obtained retrospectively; apply now, pay tax arrears with interest, penalty may be waived on prompt payment.
There is no provision for retrospective GST registration; the taxpayer must apply now, pay outstanding tax for the prior period with interest and late fee, and may face penalty for failure to register. If proceedings are initiated by show cause notice, payment of tax and interest within the short statutory period can lead to waiver of penalty and closure of proceedings. Registration taken now will continue and can be surrendered if turnover later falls below the threshold.