Government introduces mandatory physical verification of business premises for GST registration
Part of: GS Prelims and GS-III – GST; Taxation
In news
The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.
Key takeaways
The move is aimed at controlling the menace of GST fake invoice frauds.
Recommended by: GST Council’s law committee.
Separately, a new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over ₹50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.
The validity of e-way bills has also been changed, doubling the distance to be covered for each day of validity, effective January 1.
Till now, an e-way bill for transporting goods under GST allowed transporters to cover 100 km in one day.
Now, that distance for each day of validity has been increased to 200 km.
