CBIC Introduces Temporary Identification Number for GST Payment

In a significant move to streamline tax payments under the Goods and Services Tax (GST) regime, the Central Board of Indirect Taxes and Customs (CBIC) has announced the introduction of a Temporary Identification Number (TIN). This new provision is aimed at entities that, while not required to register under the GST Act, need to make tax payments under specific provisions.

Under the newly notified Rule 16A in the Central GST Rules, the proper officer is empowered to grant a TIN to such entities. This decision, taken during the GST council's recent meeting, is expected to facilitate smoother tax payments and reduce the compliance burden on businesses that do not regularly engage in taxable activities.

Entities with an annual turnover of Rs 40 lakh in the manufacturing sector and Rs 20 lakh in the services sector are mandated to register under GST. However, the introduction of TIN is a game-changer for those falling outside these thresholds but still requiring to make tax payments under certain GST provisions.

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