This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process. 1. Rule 8 of the CGST Rules, 2017 has been amended to provide that an applicant can be identified on the common portal, based on data analysis and risk parameters for Biometric-based Aadhaar Authentication and taking a photograph of the applicant along with the verification of the original copy of the documents uploaded with the application. 2. The above-said functionality has been developed by GSTN. It has been rolled out in Jharkhand and Andaman and Nicobar Islands on 15th February, 2025. 3. The said functionality also provides for the document verification and appointment booking process. After the submission of the application in Form GST REG-01, the applicant will receive either of the following links in the e-mail,
Read More →The Goods and Services Tax Network (GSTN) has introduced a new feature in the E-Way Bill (EWB) portal through which unregistered persons (URPs) can generate an e-Way Bill without taking out a GST registration. This feature has been enabled from February 11, 2025 and requires filing of ENR-03 form. Under GST rules no goods over Rs 50,000 value can be transported if the corresponding e-Way Bill is generated. GST officials can seize both the transport vehicle and the goods if a valid e-Way is not generated for transporting the goods. "Earlier if there were no registered buyers or sellers in the transaction where the taxable value of goods are above Rs 50,000, the transporter would had to create the E-way Bill or one of the parties had to register for GST to generate it. Now this requirement is done away with effect from February 11, 2025if either one of them files ENR-03 and generated an e-Way Bill," says Chartered Accountant Bimal Jain, founder, A2Z Taxcorp LLP.
Read More →The Goods and Services Tax (GST) Council is considering reducing tax rates on certain items to stimulate consumption while balancing revenue needs, Mint reported, citing sources familiar with the discussions. The Council may also eliminate the 12 percent slab, shifting items either to the 5 percent or 18 percent categories where necessary. This move aims to simplify the tax structure while providing a consumption boost, according to a source who spoke to Mint on condition of anonymity. A second source told Mint that the Centre’s recommendations have been placed before a ministerial panel led by Bihar Deputy Chief Minister Samrat Chaudhary. The panel is also considering adjustments that balance tax cuts with revenue requirements, including moving some items to higher tax slabs.
Read More →In line with recent developments in the GST registration process, applicants must adhere to the following steps as per Rule 8 of the CGST Rules, 2017: 1. Applicants Not Opting for Aadhaar Authentication: • If you choose not to authenticate via Aadhaar, you must visit the designated GST Suvidha Kendra (GSK) for photo capturing and document verification. • Upon selecting "NO" for Aadhaar authentication, an email will be sent with GSK details and required documents. • You can schedule an appointment via a link in the email. An appointment confirmation will follow through mail. • Visit the GSK at the scheduled time for photo capturing, document verification.
Read More →GST evasion of over Rs 1.88 trillion was detected by Central GST officers during April-December 2024, the Lok Sabha was informed on Monday. Minister of State for Finance Pankaj Chaudhary said GST evasion, including ITC fraud cases, in 72,393 cases between April and December stood at Rs 1.88 trillion. 132 arrests were made and recovery of Rs 20,128 crore was made during the period. In the 2023-24 fiscal, CGST officials detected GST evasion of Rs 2.30 trillion in 20,582 cases. Recovery of Rs 31,758 crore was made and 223 people were arrested. In 2022-23 and 2021-22, GST evasion of Rs 1.32 trillion and Rs 73,238 crore was detected by CGST officials, respectively.
Read More →This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process. 1. Rule 8 of the CGST Rules, 2017 has been amended to provide that an applicant can be identified on the common portal, based on data analysis and risk parameters for Biometric-based Aadhaar Authentication and taking a photograph of the applicant along with the verification of the original copy of the documents uploaded with the application. 2. The above-said functionality has been developed by GSTN. It has been rolled out in Maharashtra and Lakshadweep on 8th February, 2025 3. The said functionality also provides for the document verification and appointment booking process. After the submission of the application in Form GST REG-01, the applicant will receive either of the following links in the e-mail,
Read More →The Centre may push back against a proposal to give goods and services tax (GST) exemption for certain insurance policies, as it reckons that this would raise the cost of insurers, leading a firming up of premium amounts. However, it will strongly pitch for a major reduction in the GST rates for insurance sector. This view may be conveyed to the GST Council as it meets next. The Council is likely to consider the report of group of ministers (GoM), which reviewed taxation of health and life insurance premiums in its next session. Giving health and life insurance premiums a complete exemption from the GST may lead to an increase in their costs, which will be contrary to what the government intends to do, Sanjay Kumar Agarwal, chairman, Central Board of Indirect Taxes and Customs (CBIC) said on Thursday.
Read More →Goods and Services Tax (GST) registered taxpayers who failed to file GSTR-9C, which is a reconciliation statement filed along with GSTR-9 annual return, can now file GSTR-9C on or before March 31, 2025, to get a complete waiver of all late fees. This late fee is up to Rs 200 per day for a maximum of 0.5% of turnover. This will now be waived off provided taxpayers file their pending GSTR-9C before the date specified above. According to CBIC, multiple representations have been received by taxpayers about how exactly the waiver of late fees be calculated since GSTR-9C cannot be filed independently without first filing the GSTR-9 annual return. CBIC on January 30, 2025, issued a circular to give clarity about how the waiver will be calculated and which taxpayers are going to be eligible for this waiver of late fees.
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