Quick Summary
A Comptroller and Auditor General (CAG) report tabled in the Assembly on Thursday has highlighted significant revenue lapses within the Goods and Services Tax (GST) and Stamps and Registrations Departments. GST Revenue Loss of ₹755.49 Crore According to Report No. 7 of 2024 for the period ending March 2022, a compliance audit conducted by the CAG uncovered under-assessment, short levy, and revenue loss totalling ₹755.49 crore in the Commercial Tax Department. This was based on a detailed exa
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The CAG report flags a significant GST revenue loss of ₹755.49 crore in the Commercial Tax Department.
The report covers the period ending March 2022, specifically examining audit cases during the 2021-22 financial year.
The Commercial Tax Department has recovered ₹2.64 crore after acknowledging deficiencies in 46 audit cases.
The Department of Stamps and Registration also faced scrutiny, with revenue losses amounting to ₹193.08 crore.
The recovery rate for the Department of Stamps and Registrations from accepted cases is a mere 5.08%.
The CAG recommends that both departments prioritise the recovery of pending dues and strengthen their audit mechanisms to prevent revenue leakages.
CAclubindia
