new delhi the government urged traders on saturday to register for the goods and services tax gst soon and not wait for the july 30 deadline if one is owns a business with an aggregate turnover exceeding rs 20 lakh in the preceding financial year rs 10 lakh in specialcategory states they will need to register in all the states and union territories to which they make taxable supplieshowever one need not register if one is engaged exclusively in the supply of exempted goods or services or both the finance ministry said the ministry said gst registration was a very simple process one can register from home by filing an online application on the common portal the documents needed are a valid pan card email id and a mobile phone numberonce the details are verified applicants will be asked to furnish other details about their business there is no need to submit any physical documents unless a query is raised and documents asked for and all necessary documents can be scanned and uploaded the statement said if there are no queries one will be registered within three working days of applying more than anything getting registered is for ones own benefitif one is liable to take registration but doesnt get registered they will not be able to enjoy the benefit of input tax credit not only heshe but any registered person purchasing from himher may not be able to get the input tax credit not obtaining registration though liable to do so would also attract penalty the ministry saidit said that getting registered would lead to growth in ones business prospective buyers who are registered under gst will prefer to buy from suppliers who are also registered under gst as this would entitle them to the input tax credit the ministry saidit said that registering under gst also meant that one was contributing towards nationbuilding by ensuring that appropriate taxes were collected and paid to the government