Quick Summary
The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if the entities are adequately discharging their GST liability and widening the taxpayer base. Currently, there are 1.38 crore registered businesses and professionals under th
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FAQ :
The GST department will analyse Income Tax Returns (ITRs) and Ministry of Corporate Affairs (MCA) filings to identify entities not paying their GST liabilities.
The purpose is to ascertain if entities are adequately discharging their GST liability and to widen the taxpayer base.
Businesses in manufacturing and services sectors with an annual turnover exceeding Rs 40 lakh and Rs 20 lakh, respectively, are required to register under GST.
Initially, the GST department will send a gentle inquiry to the entity's registered place of business asking for reasons for non-compliance.
No, several services are exempt, including those from recognised educational institutions, agriculturists, electricity transmission or distribution companies, and medical services by clinics.
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