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- New and small businesses will get GST registration in 3 working days.
- Under the new mechanism, new and small businesses will get the new registration within 3 working days.
- This mechanism has got ‘in-principle’ approval from the GST Council.
- The main of this mechanism is to resolve complaint about unnecessary queries by tax officials and denial of registration on unnecessary grounds.
- It will also help to curb the exploitation of the present registration process through fabricated or fake identities to obtain multiple registrations.
- This mechanism includes the four-tier structure. The first tier would involve new and small businesses.
- The second tier would be for risk-free or deemed trusted businesses.
- The third tier will be for existing businesses, which wish to pass on ITC more than the specified limit but are not a deemed trusted entity.
- The fourth tier is proposed for change of category of businesses to pass on ITC more than the specified limit.
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