CBIC plans to make GST operations faceless, say sources
The Central Board of Indirect Taxes and Customs (CBIC) is planning to make GST (Goods and Services Tax) processes faceless, similar to the income tax system, sources familiar with the development told Zee Business.
"The plan is to make GST refunds completely faceless in the first phase, and then to make GST refunds fully faceless over the next six months," one of the sources said.
The CBIC is considering making the registration process faceless for companies that operate exclusively in the e-commerce sector. Additionally, it is contemplating implementing faceless GST assessments, similar to the system used for income tax.
According to sources, the roadmap for faceless GST assessments could be discussed in the upcoming GST meeting.
Big GST Relief Likely for Businesses
The GST Council is expected to consider a proposal that could provide significant relief to businesses by protecting their Input Tax Credit (ITC) even if a supplier fails to deposit the Goods and Services Tax (GST) with the government, sources told Zee Business.
Under the proposed change, a buyer's ITC may be safeguarded once the supplier's GSTR-2B is generated and the buyer submits the required banking or payment documents.
Currently, businesses can lose their Input Tax Credit despite having paid the GST amount to the supplier if the supplier defaults on depositing the tax with the government.
