- CBIC is relaxing GST registration scrutiny for MSMEs to increase registrations
- MSMEs contribute about 30 percent to India’s GDP
- Concerns were raised about excessive scrutiny during stakeholder consultations
- CBIC aims to reduce physical verification and complete registration in seven days if no risk is found
- Businesses with annual turnover of 40 lakh for goods and 20 lakh for services must register for GST
- CBIC order noted varied practices and unnecessary clarifications causing delays
- Officers are instructed to request minimal documents for registration
- For property proof, only one document like a property tax receipt or electricity bill is needed
- For rented premises, a rent agreement and one additional document are sufficient
- Applicants have seven days to respond to valid clarifications, and officers must decide within seven days
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
