GST Council in its first conference after Prime Minister Narendra Modi Govt. of India came back to the power, permitted the use of Aadhaar number as evidence for acquiring GST Registration, published news agency PTI (Press Trust of India). Simplifying the method of registration for new firms, the council has decided to allow the use of a twelve-digit Aadhaar number for getting the registration. The twelve-digit Aadhaar number is issued by the Unique Identification Authority of India (UIDAI) to the residents of India.
Here Are 5 Things to Know the below:
- Revenue Secretary Ajay Bhushan Pandey said while addressing a press conference after the 35th GST Council Meeting “It has been decided to allow the use of Aadhaar by businesses to register with GST-Network”.
- The Council headed by the Union Finance Minister and contains representatives of all states and Union Territories also sanctioned an electronic invoicing system and e-ticketing in multiplexes. The electronic invoicing system would be rolled out in a phase-wise manner for B2B communications.
- In a distinct move, the Council prolonged the contract of the National Anti-Profiteering Authority for two additional years till November 2021 to confirm organizations circumvent the benefits of lower GST prices to consumers.
- The Council’s meeting, managed by Finance Minister Nirmala Sitharaman, also accepted imposing a forfeit of up to 10 percent of the exploited amount on entities for not passing on advantages of GST rate cuts to consumers, as against the present norm of levying a maximum fine of Rs 25,000.
- Also, it prolonged the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to August 30.
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