Is In-person Verification Mandatory For GST Registration in India

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Is In-person Verification Mandatory For GST
Registration in India
The in-person verification has become compulsory
from 21 August 2020 before registration is
granted to the new applicant. The Finance
Ministry has notified new norms for GST
registration to check the menace of GST fake
invoices fraud. After several rounds of
discussion at the GST Law Committee, it's
approved by GST Implementation Committee (GIC)
and deliberated among the 10 States' members and
the center's representatives, which helped tackle
the menace of fake invoices. According to the
new norm, "Now there should be in-person
verification compulsory to registration granted
to the new applicant. If the applicant goes for
Aadhaar authentication, he/she will undergo
biometric-based Aadhaar authentication at any of
the facilitation centers notified by the
Commissioner''. Objective behind introducing new
norms for GST registration The prime objective of
the Indian Government behind inserting this
provision is to reduce the fraudulent activities
of ITC and cut the frauds related to GST. Fake
invoices have been a big problem for GST
authorities and a nationwide drive
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• against fake' GST invoices' has led to the arrest
  of more than 160 fraudsters, including 5 CAs and
  more than 1700 cases being filed against 5700
  GSTIN entities over the past few months.
• Additionally, fake GST invoices are used to evade
  GST and income tax and divert funds from
  companies. These invoices are also used for
  showing non-existent transactions to jack up
  figures in books to get fast loans from various
  banks and financial institutions. Finally, fake
  invoices are used to wrongfully claimed GST.
• The PWC India partner national leader said, "A
  taxpayer registering under GST can go for
  Aadhaar authentication, in which case
  registration is deemed to be granted within 3
  days without any physical presence of the
  premise. But, in other cases, the time period
  could be up to 3 weeks, and authorities can
  undertake physical verification of the place of
  the business with a complete review of documents.
• Also, one of the ARMG Associates senior
  partners has supported Aadhaar authentication
  for GST registration in India. He said that such
  rigorous verification procedures prior to GST
  registration would surely help address the issue
  of GST and tax evasion.
• What is GST registration?
• GST registration is a process by which taxpayers
  get registered under GST Amendment Act 2016. The
  GST identification number or GSTIN is provided
  once the registration process has been done.
  This is a 15 digit GST identification number
  that is offered by the central Government, and it
  helps to find out whether a business is liable
  to pay GST or not.
• Who should register for GST?
• Every business entity that is supplying goods and
  turnover is more than INR 40 Lakh in a financial
  year has to register with GST. But, the threshold
  limit is INR 10 lakh if the person has a
  business in the northeastern states such as
  Himachal Pradesh, Uttarakhand and Jammu
  Kashmir. The turnover limit is INR 20 lakh and
  INR 10 lakh for the service providers in the case
  of special category states. Some businesses for
  which online GST registration in India is
  necessary regardless of their turnover are
  mentioned below
• Input service distributor (ISD) and the casual
  taxable person
• TDS and TCS deductor

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• Supplier of goods through an online portal
• Online data access or retrieval service provider
• Interstate supplier of goods and services
• Who is eligible for GST registration?
• Individuals who still have not filed for GST
• The non-residential taxable individuals are bound
  for the GST registration
• Businesses whose turnover is more than INR 40
  Lakh yearly
• Businesses that are associated with the online
  business categories
• Individuals who are supplying online information
  from an outside place to any place within the
  country.
• There are mainly four types of GST returns. They
  are- 1) Yearly GST Returns, 2) Monthly GST
  Returns, 3) GST filing related without output or
  supply and 4) GST Filing related with input or
  purchase. Remember, GST Monthly Filing will be
  compulsory for a private limited company after
  PVT LTD company registration.
• What is the process of GST registration?
• Step 1 Visit GST Portal
• Step 2 Generate a Taxpayer Registration Number
  (TRN) by Completing OTP (One Time Password)
  Validation.
• Step 3 OTP Verification and TRN Generation Step
  4 TRN Generated
• Step 5 Now, log in with your TRN Step 6 Submit
  business information
• Step 7 Submit promoter information Step 8
  Submit signatory information
• Step 9 Now, fill in details of the principle of
  business Step 10 Details of goods and services
• Step 11 Details of your bank account Step 12
  Verification of your application

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• Documents required for GST registration
• Some of the key documents that you will need for
  your business GST registration are PAN Number,
  proof of your company registration or
  incorporation certificate,
• copy of your Aadhaar card, bank account statement
  or canceled cheque, digital signature, identify
  and address proof of directors and promoters with
  a photograph.
• GST Registration Through Aadhaar Card
• You can secure your GST registration with the
  help of your aadhaar card. The process is fast
  and simple. The complete process for GST
  registration with an aadhaar card is mentioned
  below
• You will be provided with the choose aadhaar
  authorization option when you apply for GST
  registration.
• Just select "YES" You will get the authorization
  link on your registered email ID and registered
  mobile number.
• Now click on this link
• Enter your aadhaar number and select "Validate".
• You will get an OTP on your mobile number once
  the details have been matched.
• Now enter the received OTP to complete the
  registration process. You will get the GST
  registration within 3 to 5 working days.
• Is there any penalty for not registering under
  GST?
• Yes! There is a penalty. So, all businesses have
  to register under GST otherwise will have to pay
  a penalty of 10 of the taxable amount up to a
  maximum of INR 10000.
• If you are confused by the complicated laws of
  GST or have any queries regarding it, take
  ExpertBells GST consultation services to get your
  issue solved by professional GST consultant.