Physical verification of premises is now mandatory

#GS3 #ECONOMY

The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.

  • This aimed at controlling the menace of GST fake invoice frauds.
  • Now there must be in-person verification before registration is granted to an applicant. Further, in case an applicant opts for Aadhaar authentication, he will undergo biometric-based Aadhaar authentication at one of the facilitation Centres notified by the Commissioner.

 

‘Pay 1% in cash’

  • Separately, a new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over ₹50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.
  • Till now, an e-way bill for transporting goods under GST allowed transporters to cover 100 km in one day. Now, that distance for each day of validity has been increased to 200 km.
  • While four days were granted in terms of e-way bill validity to cover 400 km, going forward, only two days will be granted for the same distance.
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