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GST MISMATCH NOTICES
Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...- Missed GST return filing? Your GST registration could be suspended; check the legal positionGST registration can now be suspended for even minor delays in filing returns, a shift from the previous six-month rule. Experts highlight ...
- GSTN issues advisory on new Invoice management systemThe government will implement major changes to the Goods and Services Tax (GST) invoice management system from the October tax cycle, aimin...
- New invoice system in works to curb automated noticesThe CBIC is developing an advanced invoice management system to prevent automatic GST mismatch notices, aiming to reduce unnecessary litiga...
- GST audit report in Maharashtra will be issued offline; know what steps to take to avoid future litigationGoods and services tax: The Maharashtra GST department has issued a circular which allows GST proper officers to conduct the GST audit proc...
- GST authorities issue notices over input tax credit discrepanciesGST authorities have issued notices to companies for discrepancies in input tax credit claims, prompting scrutiny of annual returns against...
- India Inc faces onslaught of GST demands as tax authorities try to meet deadlineSeveral prominent Indian companies, including Hindustan Unilever (HUL), ICICI Bank, and LIC, faced tax demands on the eve of the new year a...
- ICICI Pru Life gets GST demand notice of Rs 270 crShares of ICICI Prudential settled at Rs 526.55 apiece, up 0.56 per cent over previous close on the BSE. In a separate filing, ICICI Lombar...
- Thousands of taxpayers get GST notices for FY18Tax experts said this would lead to an increase in litigation over the next three months while hitting cash flows of companies as they woul...
- DGGI finds 8k fraud ITC claim casesThe director general of goods and services tax intelligence has detected around 8,000 cases of fraudulent input tax credit claims and is is...
- CBIC: Issue show cause within 2 yrs and 9 months of erroneous refundIn a clarification issued to its field formations, the CBIC said if the refund demand or show-cause notice is sent beyond the stipulated pe...
- GST authorities issue 50,000 showcause notices to companies across sectors following audit findingsAudits must be completed within a definite timeline to remove business uncertainty. A common audit manual for the Centre and states, instea...
- I-T notices being sent to winners of online games for short-payment of tax: CBDT chief Nitin GuptaThe department has started alerting the winners on the tax compliance dashboard wherever there is a mismatch in income and tax payments. Th...
- Taxmen to give 'reasonable time' to business to explain reasons for mismatch in GSTR-1, 3B before recovery actionAs per the changes in the GST law effective January 1, GST officers were allowed to directly initiate recovery action against those errant ...
- Notices to firms after mismatch in GST tax creditsThe GST framework allows companies to set off part of their future tax liability against GST paid by them on the raw materials sourced from...
- Chartered accountant firms, hospitals under taxman’s lensTax authorities have also decided to slot consultant doctors as ‘intermediaries’ for taxation purposes even as medical services are outside...
- Taxmen to scrutinise mismatch between ITR and service tax returnsThe mismatch in ITR and service tax returns has come to notice in respect of PANs that are not at all registered under service tax or PANs ...
- Taxpayers note. Follow this process to avoid mismatch notice for your GST returnBusinesses deposit GST to the government via submission of GSTR-3B. The credit claimed in this return is provisional and authorities accept...
- Notice shot off to businesses for less IGST input credit claimThe effort of this exercise, officials said, is to find out whether the mismatch is on account of genuine errors by the businesses or with ...
- Companies get scrutiny notices for mismatch in GST returnsCos, whose final sales return GSTR-1 did not match GSTR-2A, which is a purchase return auto-generated by system from his seller's return, h...
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