Aadhaar authentication requirement for GST registration mandates physical verification where Aadhaar fails, affecting registration procedures. Mandates Aadhaar authentication for GST registration from 1 April 2020 and requires physical verification of the principal place of business where Aadhaar authentication fails; the verification report with supporting documents and photographs must be uploaded in FORM GST REG-30 within fifteen working days. Revises input tax credit treatment by extending useful life of specified capital goods to five years and prescribing adjustments when goods move between categories, with ineligible credit added to output liability at a specified quarterly rate and declared in FORM GSTR-3B. Provides for re crediting of credit debited refunds via FORM GST PMT-03 and recovery of export related refunds where export proceeds are not realised under FEMA, with consequential procedural and form amendments.
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Aadhaar authentication requirement for GST registration mandates physical verification where Aadhaar fails, affecting registration procedures.
Mandates Aadhaar authentication for GST registration from 1 April 2020 and requires physical verification of the principal place of business where Aadhaar authentication fails; the verification report with supporting documents and photographs must be uploaded in FORM GST REG-30 within fifteen working days. Revises input tax credit treatment by extending useful life of specified capital goods to five years and prescribing adjustments when goods move between categories, with ineligible credit added to output liability at a specified quarterly rate and declared in FORM GSTR-3B. Provides for re crediting of credit debited refunds via FORM GST PMT-03 and recovery of export related refunds where export proceeds are not realised under FEMA, with consequential procedural and form amendments.
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