Institutions that do not need to obtain GST registration, but need to pay taxes under the GST Act provision can now get temporary identity number (TIN).
The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendment in GST rules so that TINs can be issued to those institutions that do not need to register under the GST Act, but they are paid under some specific provisions Need to be done.
Under the Goods and Services Tax (GST) rules, registration is mandatory for businesses with annual trading of Rs 40 lakh and Rs 20 lakh respectively in manufacturing and service sectors.
“Where a person is not responsible for registration under the Act, but needs to make any payment under the provision of the Act, the proper officer can provide a temporary identity number to the said person,” CBIC has given Rule 16A in Central GST Rules Rule 16A in Central GST Rules Said while presenting.
In its meeting last month, the GST Council decided to issue TINs to those institutions which do not need GST registration.
This will ensure smooth tax payment, as well as less compliance with people who do not engage in taxable activities regularly.
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