Now, businesses can get GST registration within 3 days! Here’s how

By: |
Updated: Aug 23, 2020 9:54 PM

Businesses which will provide Aadhaar number while applying for registration under the Goods and Services Tax will get the approval in three working days.

gst registrationGST registration in three days now with Aadhaar authentication.

Businesses which will provide Aadhaar number while applying for registration under the Goods and Services Tax will get the approval in three working days. The Central Board of Indirect Taxes and Customs (CBIC) last week notified Aadhaar authentication for GST registration with effect from August 21, 2020.

The notification also provides that in case businesses do not provide Aadhaar number, then GST registration would be granted only after physical verification of the place of business. Finance Ministry sources said the GST Council in its 39th meeting held on March 14, 2020, had approved operationalisation of Aadhaar authentication for new taxpayers.

However, its implementation was postponed due to the lockdown on account of COVID-19 pandemic. For a person opting for Aadhaar authentication for new GST registration would get it within just three working days, if no notice is issued and would not need to wait for physical verification.

While applicants not opting for Aadhaar authentication for GST registration would be granted it only after physical verification of the place of business or documentary verification which may take up to 21 working days or more if notice is issued, sources said.

Sources further said that keeping the COVID-19 pandemic in view, it has been provided that the officer may, if the circumstances warrant, opt for asking for additional documents in lieu of the pre-registration for physical verification of the premises.

Aadhaar authentication is expected to facilitate genuine and honest taxpayers while at the same time keeping fake and fraudulent entities away from GST, sources added.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Nearly 26 lakh unmetered connections sap UPPCL’s energy
2Kharif MSP purchases start, earlier than usual
3COVID-19 showed risk of dependence of global supply chain on any single source: PM Modi