Temporary Identification Number under GST: Entities that are not required to get a GST registration but are required to make a tax payment under the GST Act provision can now obtain a Temporary Identification Number (TIN).
The Central Board of Indirect Taxes and Customs (CBIC) has notified an amendment to GST rules to issue TIN to entities that are not required to register under the GST Act but need to make payments under some specific provision.
Read Also: CBIC Eliminates 18% GST on Rent for Small Taxpayers
Under Goods and Services Tax (GST) rules, registration is mandatory for businesses with an annual turnover of Rs 40 lakh and Rs 20 lakh in the manufacturing and services sectors, respectively.
“Where a person is not liable to registration under the Act but is required to make any payment under the provision of the Act, the proper officer may grant the said person a temporary identification number,” CBIC said while introducing Rule 16A in Central GST Rules.
Read Also: Delhi High Court exempts electricity commissions’ fees from GST
The decision to issue TIN to entities that are otherwise not required a GST registration was taken by the GST council in its meeting last month.
This would ensure smooth tax payments while reducing the compliance burden on those who do not regularly engage in taxable activities.
Disclaimer:The article or blog or post (by whatever name) in this website is based on the writer’s personal views and interpretation of Act. The writer does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.
Also, www.babatax.com and its members do not accept any liability, obligation or responsibility for author’s article and understanding of user.
For Advertising with us-
- Mail us at [email protected]
- Whatsapp us at +91-7024984925
