GST Council to finalise registration, other rules on Sep 30
27 Sep 2016 1:42 AM GMT
Moving on fast track to meet the April 2017 GST rollout deadline, the tax department on Monday came out with draft rules relating to registration, invoice and payment which will be finalised by the GST Council on Friday. “We intend to have these rules approved by the GST council in its meeting on September 30 so that business systems can be modified by all,” Revenue Secretary Hasmukh Adhia tweeted.
The draft rules, on which the Central Board of Excise and Customs (CBEC) has invited comments by Wednesday, come less than a week after the first meeting of the GST Council. “Business community may view them and give quick comments, if any, by 28th night on gst-cbec@gov.in,” Adhia said.
The draft rules provide for online registration by residents within three days of submission of application. The non-residents, who will come under the purview of GST, will be required to electronically submit the application for registration at least 5 days prior to the commencement of business and deposit full tax liability in advance.
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