CBEC unveils draft GST Rules and Formats
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The Central Board of Excise and Customs, CBEC has come out with three draft rules for registration, invoice and payments under Goods and Services Tax, GST. The draft rules were unveiled in less than a week after the first meeting of the GST Council.The Board has invited comments on the rules by Wednesday. The draft rules provide for online registration by residents within three days of submission of application.
For non-residents who will come under the purview of GST, they will be required to electronically submit the application for registration at least 5 days prior to the commencement of business.
The government aims to implement the new indirect tax regime GST from 1st of April next year and the GST Council will hold its second meeting on 30th of this month to finalise rules for GST.
The draft rules also provide that if a tax official fails to take action on registration application within the stipulated time frame, the application for grant of registration shall be deemed to have been approved. As per the draft norms, the applicant seeking registration will have to submit PAN, mobile number, email address on the common portal or through a facilitation centre.
For non-residents who will come under the purview of GST, they will be required to electronically submit the application for registration at least 5 days prior to the commencement of business.
The government aims to implement the new indirect tax regime GST from 1st of April next year and the GST Council will hold its second meeting on 30th of this month to finalise rules for GST.
The draft rules also provide that if a tax official fails to take action on registration application within the stipulated time frame, the application for grant of registration shall be deemed to have been approved. As per the draft norms, the applicant seeking registration will have to submit PAN, mobile number, email address on the common portal or through a facilitation centre.
Draft Rules and Formats
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