August 25, 2020: 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 GSTregistration 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 authenticationfor new GST registration would get it within just threeworkingdays, if no notice is issuedand would not needtowait for physical verification.
While applicants not opting for Aadhaarauthentication for GST registration would be granteditonly after physical verification of the place of businessor documentaryverificationwhich may take up to 21 workingdays or moreif notice is issued, sources said.
Sources further said that keepingthe 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.
Source: Business Standard
