A majority of show-cause notices issued to taxpayers under the GST regime last year pertained to ‘data discrepancies’ in tax return filings, and efforts are underway to use technology to resolve such mismatches and mitigate the resultant disputes as well as ‘pain points for taxpayers,’ a top indirect tax official said. GST officials issued a little under 1.13 lakh show-cause notices to tax payers in 2023-24, but classification disputes on tax rates were behind just 555 of those notices. An analysis by the CBIC showed six of the seven major areas of dispute resulting in show-cause notices pertained to data discrepancies, and the GST Network is working on introducing a new register for addressing the RCM challenges.
Source A2ztaxcorp
Latest Posts in "India"
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
- Guide to GST Refunds for Unregistered Persons: Cancelled Service Contracts Explained
- India Reduces GST on Solar and Wind Equipment to 5%, Cutting Renewable Energy Project Costs
- India Unveils Next-Gen GST: Simplified Tax Structure, Lower Rates, Boosts Business and Affordability
- Piyush Goyal Urges Industries to Pass GST Benefits to Consumers for Economic Growth
