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Current Affairs

Aadhar authentication for GST

Date: 15 September 2019 Tags: Miscellaneous

Issue

To keep fake traders at bay, Aadhaar authentication or physical verification will be made mandatory for new traders coming under the Goods and Services Tax regime from January 2020.

 

Background

Goods and Services Tax is an indirect tax imposed in India on the supply of goods and services. It is a comprehensive multistage, destination based tax.

 

Details

  • Under the new rule, those who do not prefer Aadhaar authentication, can go for physical verification, which will be carried out in three days. Currently, Aadhaar authentication is optional and no physical verification is required.

  • The GST network is trying to make returns system more simple compared to the earlier one. All types of taxpayers will get a new system under three formats: Sahaj, Sugam and Normal.

  • Refunding will be made online to bring more transparency and convenience for traders and exporters.

 

GST Network

The Goods and Service Tax Network (or GSTN) is a non-profit, non-government organization. It will manage the entire IT system of the GST portal, which is the mother database for everything GST.