3-day registration for GST, 90% provisional refunds from November 1

CBIC Chairman Sanjay Kumar Agarwal said the scheme will cover both central and state jurisdictions, and apply in cases where applicants are assessed to be low-risk

The Goods and Services Tax (GST) Council has cleared the way for two major compliance relief measures — a simplified registration scheme for small and low-risk businesses, and a risk-based framework for faster refunds. From November 1 this year, eligible applicants will get GST registration within three working days through an automated process while exporters and firms facing inverted duty structure will be able to access 90 per cent of their refund claims provisionally.

 

Explaining the intent in an interaction with Business Standard, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said the scheme will cover