Connect with us

Business

If there are major defects in the sales returns, the registration of taxpayers will be canceled immediately.

Published

on

There is no special relief to people from the harsh winter in Kashmir valley

Disclaimer:This article is auto-uploaded from the agency feed. It has not been edited by the team of NavbharatTimes.com.

language | Updated: 14 Feb 2021, 03:42:00 PM

New Delhi, 14 February (Language) Now the Goods and Services Tax (GST) registration of taxpayers whose sales returns ie GSTR-1 form and returns filed by their supplier is found to be large. To curb tax evasion and save revenue, GST officers have now been given this right. The Central Board of Direct Taxes and Customs (CBIC) has issued Standard Operating Procedure (SOP) in this regard. According to the SOP, the officer immediately cancels the registration of the taxpayer if there are flaws indicating a violation of the GST Act.

New Delhi, 14 February (Language) Now the Goods and Services Tax (GST) registration of taxpayers whose sales returns ie GSTR-1 form and returns filed by their supplier is found to be large. To curb tax evasion and save revenue, GST officers have now been given this right. The Central Board of Direct Taxes and Customs (CBIC) has issued Standard Operating Procedure (SOP) in this regard. According to the SOP, officers can immediately cancel the taxpayer’s registration if they find flaws indicating a violation of the GST Act. Taxpayers can be informed about this on their registered email IDs. The SOP states that in cases where there is a big difference between the returns filed by the registered person and the information supplied in GSTR-1 or the returns filed by their suppliers, the registration can be canceled in these cases. According to SOP, “Till the time the registration of Form-31 on the portal is done in a timely manner, taxpayers can be informed about this in GST Registration Form-17. After logging in, the taxpayers will be able to see the notice in the ‘View notice and order’ tab. “It is noteworthy that GST officers have already intensified their efforts to curb corruption. The GST collection has been consistently above Rs 1 lakh crore during the last Chari month. The GST collection in January has been at a record high of around Rs 1.20 lakh crore.

Navbharat Times News App: News of the country, world of your city, education and business updates, movement of the world of film and sports, viral news and religious work … Get the latest news of , Download NBT App

Like the NBT Facebook page to stay updated with the latest news

Web Title : gst officers will immediately cancel registration of taxpayers if there are major defects in sales returns
, News from Navbharat Times, TO Network

Get business news in hindi, stock exchange, sensex news and all breaking news from share market ,. Browse Navbharat Times to get latest news in hindi from Business.

.

Source: navbharattimes.indiatimes.com