GST Registration & Incometax Database Interlinked!!

The Central Board of Indirect Taxes and Customs (CBIC) said on Saturday those applying for Goods and Services Tax (GST) registration need not give their mobile phone number and email address.

 

Instead, their permanent account number (PAN) will be verified through a separate one-time password to be sent to the mobile number and e-mail address linked to it. PAN is issued by the Income Tax department.

 

The amended GST registration form will auto-populate the applicant’s contact details from the Income Tax database as linked with the PAN of the applicant, CBIC said.

 

 

This helps ensure one uses the same PAN under direct and indirect taxes. Increasingly, both CBIC and the Central Board of Direct Taxes (CBDT) have been exchanging data and information to better profile taxpayers and capture economic activities sotax compliance improves.

 

Additionally, CBIC stated on social media that Gujarat is the only state for which the biometric Aadhar authentication and photo are accepted as proof of completion of the GST registration application.

 

To increase the revenue base, both the federal government and state governments are taking steps to make their IT and reporting systems error-free. This is vital to safeguard the vigour of tax collection when the pace of economic growth returns to normal after the pandemic’s recovery.

 

gst

 

Last month, the federal indirect tax body, the GST Council took several measures to make GST laws more business-friendly. As per this, the minimum threshold of tax amount for launching prosecution under GST has been raised from Rs. one crore to two crores, except for the offense of issuing invoices without a supply of goods or services.

 

Read More: 11 CHANGES IN GST UTILITIES/FORMS ON GST PORTAL

 

The Council had also decided to reduce the compounding amount from the present range of 50% to 150% of tax amount to the range of 25% to 100%.