Tax officers must give reasonable time to business to explain reasons for mismatches in turnover reported in the sales return GSTR-1 and tax payment form 3B before initiating recovery action for short payment or non-payment of taxes.
So far, under the goods and services tax law, show-cause notices were first issued and then a recovery process was initiated in such cases of mismatch in GSTR-1 and GSTR-3B.
Source: NDTV
Latest Posts in "India"
- Ahmedabad Customs Inspector Arrested for Alleged ₹2 Crore IGST Credit Fraud in Export Scam
- ISF Urges GST Cut, Women-Specific Tax Slab to Boost Formal, Inclusive Employment in India
- Punjab Software Engineer Arrested for Designing Fake GST Portal in Multi-State Tax Fraud Bust
- Supreme Court to Decide if Industrial Felt is ‘Fabric’ or ‘Machinery Part’ for VAT Purposes
- Supreme Court Rules: “Parts” Must Functionally Integrate into Machinery, Rejecting End-Use Claims
