Goods and Service Tax (GST), the biggest tax reform since Independence is to be implemented from 1st July. It is a great initiative towards the partial taxation scheme and it is done with the help of each and every centre and state officials help. Along with the goods and services tax, there are other significant changes which are ready to be implemented on the occasion of the first day of July.
See all those changes and be prepared to comply accordingly:
No IT Return Filing without Aadhaar
At the time of filing income tax return, it is necessary that individuals or taxpayers must have Aadhaar, it is officially announced by the Government. Without Aadhaar card, individuals or taxpayers will not be able to file the tax returns after the implementation of new indirect taxation regime.
Aadhaar with PAN Linking Becomes Mandatory
The government officially declared that it is mandatory to link Aadhaar card numbers along with PAN cards before the implementation of GST Regime. According to Section 139AA of the Income Tax Act, if an individual or taxpayer does not link Aadhaar with PAN card, his PAN card could not be considered valid.
PAN Card and Aadhaar Must be Attached
For making new PAN card it is necessary that an individual must have Aadhaar card. Without Aadhaar card an individual will not be able to make a PAN card after the launching of GST regime.
No Passport without Aadhaar Card
Ministry of External Affairs has declared that Aadhaar card is one of the essential documents for getting a new passport. From 1st July you will not be able to get a new passport without Aadhaar card.
Railway Tickets Concession Only Based on Aadhaar
For availing concessions on railway tickets, Indian Railways have made it compulsory from 1st July an Individual must have Aadhaar card.
Aadhaar is Mandatory for Government Scholarships
For availing government scholarships the Ministry of Human Resource Development has informed that college and school students must have Aadhaar card details from 1st July. After the implementation of the new regime, students who don’t have Aadhar card would not be provided scholarships.
PDS Benefits Only Based on Aadhaar
Before the implementation of new indirect taxation regime (1st July) for getting all PDS benefits will have to link Aadhaar with ration cards.
Departure Form Discarded at Airports
Indians flying for abroad after 1st July will not necessary to fill departure forms. The main aim of this to provide hassle- free movement, minimising the immigration facilities and it also saves time.
New Syllabus for CA Students
Prime Minister Narendra will create new pattern and syllabus for Chartered Accountants on 1st July. The new syllabus will create in compliance with International education standards of the International Federation of Accountants and also covers new indirect taxation regime.
Read Also: What is Future Scope for Chartered Accountants
Australian VISA Available Online
The Australian Government has announced that after 1st July Indian people will have to apply for visitor’s visa through online. It is expected that online facility of visa fastens the approval process.