Expertbells

  The introduction of GST by the Indian Government is one of the most significant steps to bringing the nation under one taxation system. This tax came into effect in the year 2027 to remove different types of indirect taxes on goods and services. Filing of GST Return is necessary for all those businessmen who earn a profit of more than a certain limit. A taxpayer who has GST Registration in India files GST returns for GSTIN that he registered for. There are about 22 types of GST forms out of which 11 are active, 8 are view-only and 3 are suspended. Late filing of GST returns has both late fees and interest. The type of GST to be filed depends on the type of taxpayer that you register. There are 7 types of taxpayers such as: Ø Composition taxable persons Ø Regular taxpayer Ø Input service distributor Ø E-commerce operators Ø TDS deductors Ø Casual taxable persons Ø Non-resident taxpayers Different taxpayers pay GST Return Online in different ways. So...

  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...