GST New Rule: The GST Council is constantly trying to simplify the rules. Along with this, the council is also focused on removing the flaws of the GST structure. Many compliances of GST are going to be implemented from April 1, 2025. Knowing about them in detail will not cause any problem in future. Many new rules of GST are going to be implemented from April 1. The GST system was implemented on July 1, 2017. The GST Council is constantly trying to simplify the rules of GST. The government is also focused on removing the flaws related to it. Let us know what things have to be taken special care of from next month.
1. E-way bill and e-invoice security
NIC has upgraded its e-way bill and e-invoice system. This has been done to prevent unauthorized access. If a user tries to enter through a shortcut, he will come under the eyes of the tax authorities.
2. Multi-factor authentication
Now MFA has become mandatory for all taxpayers. There is no longer a turnover requirement. Now OTP and additional verification steps will have to be followed. Although this has increased the process, it has also increased security.
3. E-way bill expiry
Now the e-way bill will expire within 180 days from the date of invoice. There is a limit of 360 days for its extension. This means that the e-bill of the previous year can no longer be used for transportation of goods.
4. Sequential filing of GSTR-7
If you file GSTR-7 for TDS, then you cannot skip the months in between. You have to file GSTR-7 in the correct order.
5. Biometric authentication for directors
Now promoters and directors will have to go to GST Suvidha Kendra for biometric authentication. The reason for this is that PAN and Aadhaar alone will now not be enough for your existence.
6. IDS Registration
If a business has multiple GST registrations with the same PAN, then it will have to register itself as an Input Service Distributor. Its purpose is to organize the distribution of input tax credit. The business may have to pay a penalty if it does not register.
Experts say that tax practitioners and businesses have already been informed about these changes. Hence, there is no possibility of any problem regarding the new rules and provisions. Experts say that the purpose of these changes is to increase security as well as to make the GST process organized.
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