GST Refund in Authorized Bank Account Linked with Aadhaar & PAN: FM

On 42nd GST meet the Finance minister Nirmala Sitharaman states that refund is to be disbursed in the validated bank account linked through Aadhaar or PAN card Get the details regarding the complete procedure of GST registration via Aadhaar authentication for a new user on the official government portal. Read more which comes into force from 1 January 2021.

In the investigation done by the ministry, it is concluded that several people take money for their businesses but gets disappeared thus to keep an eye the officials have sought an idea to give loans to only those people whose bank account is validated with PAN and Aadhar.

This idea of the ministry is invoked to avoid the fraud and keep a note on the loyalty of the companies who claim for funds. From 1 January 2021 onwards, the refunds are to be given particularly to those bank accounts which are validated with PAN and Aadhaar.

For the simplification of the process, GST officials have found the way that the refund application will be signed via Aadhar authentication for those who want to claim for the GST refund Get to know about official GST refund process under GST regime as finalized by the GST Council. We have included terms and conditions of all aspects. In simple terms, the taxpayers enter his Aadhar number and OTP will display on the registered mobile number, and on entering OTP the refund application will be signed.