GST Council to tighten registration rules

In order to check fake registration, the GST Council is likely to reduce the time period to 30 days, from 45 days currently, for submission of PAN-linked bank account details of the person seeking registration with tax authorities. The Council, in its meeting on July 11, is likely to provide for mandatory physical verification of the business premises of “high risk” applicants before granting of GST registration.

Also, the GST Rules are likely to be amended to state that person whose business premises is being verified should not be present at the spot during the physical verification.

Read more at: THE EONOMIC TIMES