The Central Board of Indirect Taxes and Customs (CBIC) has issued a new notification related to GST registration.
Businesses registering under Goods and Services Tax (GST) can now opt for Aadhaar authentication. If this is not done, then registration will be done only when physical verification of the place of business will be done. The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification related to this. It has been said that now applicants for GST registration can opt for Aadhaar number authentication from Friday.
In a notification issued by CBIC, if a person does not do the authentication of Aadhaar number or opts for it, then in such a situation, physical verification of the place of business will be necessary for GST registration in the presence of the person concerned.
A taxpayer registering under GST can opt for Aadhaar authentication, in which registration is allowed within three days without physical verification of the premises. He said that in other cases, the time period can be up to 21 days and the officials can do physical verification of the place of business or detailed review of the required documents.
To prevent tax evasion, Motik-Jain said that by linking Aadhaar with GST and PAN (Permanent Account Number), the government will have a centralized data available that will facilitate data analytics and help prevent tax evasion.
Rajat Mohan, senior partner at AMRG & Associates, said that the authentication of Aadhaar number would be a standard for GST registration, without which registration would be done only after physical verification of the place of business.