It was announced on Saturday by the Central Board of Indirect Taxes and Customs (CBIC) that applicants for Goods and Services Tax (GST) registration are not required to provide their cell phone number or email address.
Instead, a unique one-time password will be provided to the associated email address and mobile number to verify their permanent account number (PAN). The department of income tax issuing PANs.
According to CBIC, the updated GST registration form will automatically fill in the applicant’s contact information from the Income Tax database when it is linked to the applicant’s PAN.
This makes it easier to make sure that the PAN is used consistently for direct and indirect taxes. The Central Board of Direct Taxes (CBDT) and CBIC have been exchanging data and information more often in an effort to better profile taxpayers and track economic activity to increase tax compliance.
Additionally, CBIC stated on social media that Gujarat is the only state for which the biometric Aadhar authentication and photo are accepted as proof of completion of the GST registration application.
To increase the revenue base, both the federal government and state governments are taking steps to make their IT and reporting systems error-free. This is vital to safeguard the vigour of tax collection when the pace of economic growth returns to normal after the pandemic’s recovery.
The GST Council, the federal authority in charge of indirect taxes, took a number of actions last month to make the GST laws more entrepreneur-friendly. According to this, the minimum tax threshold for starting a prosecution under the GST has increased from Rs. one crore to two crore, with the exception of the offence of sending invoices without supply of goods or services.
The Council also voted to change the range of the compounding amount from the current 50% to 150% of tax amount to 25% to 100%.
