[amp_mcq option1=”A person can collect tax only he is registered” option2=”Registered person not liable to collect tax till his aggregate turnover exceeds threshold limit” option3=”A person can collect the tax during the period of his provisional registration” option4=”None of the above” correct=”option3″]<\/p>\n
The correct answer is: C. A person can collect the tax during the period of his provisional registration.<\/strong><\/p>\n A person can collect tax during the period of his provisional registration. This is because, according to the Goods and Services Tax (GST) Act, a person is required to obtain a registration if his aggregate turnover in a financial year exceeds the threshold limit. However, a person can also obtain a provisional registration if he intends to commence business and his aggregate turnover is likely to exceed the threshold limit in the next financial year.<\/p>\n A provisional registration is valid for a period of six months, which can be extended for a further period of six months. During the period of provisional registration, the person is required to collect tax at the same rate as a registered person. He is also required to file all the returns and pay all the taxes that are payable by a registered person.<\/p>\n The main advantage of obtaining a provisional registration is that it allows the person to start business without having to wait for the final registration to be granted. This can be helpful in cases where the person needs to start business urgently.<\/p>\n However, it is important to note that a provisional registration is not a permanent registration. The person will need to apply for a final registration once his aggregate turnover exceeds the threshold limit.<\/p>\n The other options are not correct because:<\/p>\n [amp_mcq option1=”A person can collect tax only he is registered” option2=”Registered person not liable to collect tax till his aggregate turnover exceeds threshold limit” option3=”A person can collect the tax during the period of his provisional registration” option4=”None of the above” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969],"tags":[],"class_list":["post-48445","post","type-post","status-publish","format-standard","hentry","category-gst","no-featured-image-padding"],"yoast_head":"\n\n