New Delhi: The government on Wednesday notified modifications in the GST rules in a bid to prevent fly-by-night firms from registering under GST and gaming the system by issuing fake invoices.
Under the new rules, a business will now undergo in-person verification before it is registered under GST. If an applicant opts for Aadhaar authentication, they will undergo biometric-based Aadhaar authentication at one of the facilitation centres notified by the commissioner.
At the same time, those choosing to register without Aadhaar, the GST administration would need biometric information and verification of KYC documents at designated verification centres.
Although the timeline for granting approval for Aadhaar-based registration would now be 7 days, if the applicant falls under ‘risky’ category the department will seek additional physical verification before granting registration within 30 days.
The new changes also target existing registrants who are suspected of foul play. A taxpayer’s registration could now be cancelled if ITC is claimed in violation of law. Further, if the details of outward supplies in GSTR-1 return (outward supplies) are in excess to the outward supplies declared in GSTR-3B return for one or more tax periods, the authorities can initiate cancelation process. Similarly, if details in GSTR-1, GSTR-3B and GSTR-2B are not reconciled then it would lead to cancellation of registration.
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