The GST Council on Friday approved the use of Aadhaar Card registration under which a person can register himself on the GSTN portal by applying online just using his Aadhar Card number doing away with the requirements of various other documents.
Further, the GST Council has extended the date of annual return upto 30 August.
"In the earlier system, people have to give various documents and submit them in physical and scan form. No we have decided the use Aadhaar and several advantages will occur to businesses. The person applying can go online and using his Aadhaar number and OTP authentication can register himself in the GSTN portal and get GSTN registration number," said Revenue Secretary, Ajay Bhushan Pandey, told a briefing after the Council meeting on Friday.
He said that GST Council has approved several changes made during the last few months, that includes increasing the GST registration limit threshold, Composition scheme for service provider among others.
"The last date for filing the annual return was 30 June however, we have received several representations from trade and business, and thus extended the date by two more months up to 30 Aug 2109," said Pandey.
"GST registration limit threshold is increased from Rs 20 Lakh to 40 Lakh. Earlier it was done through a notification and now appropriate changes have been made in the law," he said.
"Dealers with turnover upto Rs 5 Crore will be filing quarterly and those above Rs 5 crore will be filing monthly returns. Composition scheme for service providers, a decision which was taken in GST Council a few months back and done through a notification will be made a part of the law," said Pandey.
The Secretary further apprised that the GST council has extended the tenure of National Anti-Profiteering Authority (NAA) slated to expire this year by two more years. He further said that in Anti-profiteering cases penalty has been increased.
"Also in order to ensure that whatever GST rate cuts are given by GST Council actually pass on to consumer and no anti-profiteering takes place the current provision that only penalty of Rs 25000 is imposed including the profiteering amount, now the change that has been approved is that if the Profiteering amount is not deposited in 30 days, then the penalty to the extent of 10 per cent of profiteering amount will be imposed on the company," he said.
GST council has taken the decision to go for a single return every month instead of two as earlier.
"GST council has taken the decision to go for a single return every month instead of two as earlier. The new return system will become fully applicable from Jan 1, 2020, after which everyone will file a single return per month," informed the Revenue Secretary.
The GST council has also approved an electronic invoicing system where the invoice will act as a return.
"We proposed a system, where the invoice can be generated in the portal and will act like an e-way bill because it is on the portal the collection of invoice will become return. GST council has approved this in principle," he said
He also said that GST council has approved e-ticketing for multiplexes cinema halls.
GST council has also proposed cutting GST rate on the sale of electric vehicles from current 12 per cent to 5 per cent and from 18 per cent to 12 per cent on the electric chargers for e-vehicles.
"GST Council also proposed reducing GST on leasing of the electric vehicle. We have sent these three proposals to the fitment Committee that will deliberate and come back with its recommendations to us," said Pandey.
Finance Minister Nirmala Sitharaman said that Chief Ministers of Karnataka, Mizoram and Telangana were not present in the GST Council meeting due to their prior commitments. She said that these states have sent their representatives.
( With inputs from ANI )