migration

If you don’t have a GST registration under the GST regime, you will not be able to sell or do business with GST registered businesses as you can not provide input tax credit to your buyer.

Also if you are selling to end consumer and your turnover is below the threshold limit of Rs 20 Lakh (Rs 10 Lakh for North-East and Hilly States), you are fairly safe. However if your turnover exceeds such threshold and you don’t have GST registration, you may invite the commercial tax officers and may have to face severe penalties.

Further you will not be able to claim input tax credit,Stock balance

Tomorrow is the last date to get registered by the existing taxpayers registered under VAT/excise/Service tax into GST .However as per the department, those who will fail to get themselves registered by tomorrow they need not worry as they again will get a chance as migration process will again start from 25th june'17.SO if you fail to get registerd by tomorrow, just wait and again do it from 25th.

Even if you are in composition scheme under existing law, you will have to get registered under GST if you satisfy registration criteria.