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NEWS

GST Council Meeting: In Principle Decision to Link Aadhaar With GST Registration

Joan Mathews Joan Mathews 01 November 2019

The GST Council took an in principle decision to link Aadhaar with registration of taxpayers under GST. Read this article to know more about the recommendations made at the 37th Meeting of the GST Council.

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The GST Council has recommended an in principle decision to link Aadhar card with registration of taxpayers under the GST, a press release by the Central Board of Indirect Taxes and Customs has stated. The Council is also looking into the possibility of making the unique identification number compulsory for claiming refunds. According to the press release, the Council seeks to withdraw a circular issued in June with respect to post-sales discount.

The Council took an in principle decision to set out restrictions on passing of credit by risky taxpayers for dealing with fraudulent refunds and fake invoices. It was also decided to give relief to the MSME sector in filing of Form GSTR-9A for FY 2017-18 and FY 2018-19. The press release stated that filing of Form GSTR-9 for those taxpayers with aggregate turnover up to Rs. 2 crores have been made optional for the mentioned tax periods.

Further, it was recommended that a committee of officers be formed to examine the simplifying of forms for Annual Return and reconciliation statement. A new return system is expected to be introduced from April, 2020, (previously proposed from October, 2019), giving adequate opportunity to taxpayers and the system to adapt. The above recommendations were made by the GST Council at its 37th meeting held at Goa.

Joan Mathews
Written by Joan Mathews
Joan has over 4 years of experience writing for the BFSI industry. She enjoys watching mystery TV series, listening to 80s classics and spending time with her furbabies.