After the introduction of the new Goods and Services Tax (GST), the Central Board of Excise and Customs (CBEC), has decided to relax Know Your Customer (KYC) verification norms.
This is in line with the KYC norms stipulated by the Reserve Bank of India, Board had decided that two documents, one for proof of identity and other for proof of address are required for KYC verification. However, in case of individuals, if any one document listed in the Board Circular No. 9/2010-Cus dated 08.04.2010 contains both proof of identity and proof of addresses, the same would suffice for the purposes of KYC verification. Aadhaar card had also been recognised as one of the document for individuals.
Earlier, the Board had further relaxed KYC norms for individual, in view of the problem being faced by individuals who possess proof of identity in the form of prescribed document but their address of present stay is not mentioned in the proof of identity.
It found difficult for individuals to produce present/current proof of address and resultantly, it was decided that proof of identity collected by the representative of the authorized courier at the time of delivery of such consignments to an individual consignee along with recording of address of the place where such consignments would be delivered to the consignee by the authorized courier companies, would suffice for KYC verification.
In order to further simplify and clarify the procedure in this regard, Board has decided that in case of import or export through courier by an individual, Aadhaar card or passport or PAN or Driving License or Voter ID card shall suffice for KYC verification. However, it was clarified that the recording of address of place of delivery, as mentioned above, would continue.
“Board has also decided to simplify the norms for KYC verification in the light of introduction of Goods & Services Tax (GST) and in view of the emphasis of government on adoption of a unified identifier. Accordingly, in modification of the earlier instructions, in the case of import or export through courier by a firm, company, institution, registered under the GST laws, GSTIN shall suffice as the document for the purpose of KYC verification. In cases where the firm, company or institution is not registered under GST laws, Unique identification Number (UIN) or PAN shall serve as the document for KYC verification,” a communication released by the Board today said.
The Board also invited comments from the officials and the stakeholders in this regard.
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