In a dramatic shift, the state goods and services tax department has registered an average 43% drop in GSTIN applications received monthly since Nov 2023 when a new layer of authentication was added for the online registration process.
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From Nov last year till Feb this year, the average applications received in a month for GSTIN (Goods and Services Tax Identification Number) have fallen from 26800 to 15,350/.
The decline is not a result of slowdown or fewer number of companies opening, but the result of a measure by sate govt to curb bogus billing at source.
The pilot project makes biometric verification mandatory for GSTN applicants, a filter that keeps bogus applications out.
Read more at: The Times of India
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