Quick Summary
Karnataka GST Department issued Circular No. GST-03/2023-24 on June 13, 2023. The circular outlined a number of measures that the department will be taking to ensure revenue collection, compliance, and effective GST Audit. Official copy of the circular has been mentioned below The major mandate for the department is to ensure that the annual revenue from GST and other commercial taxes as estimated by the Government based on applicable key economic indicators, promptly accrues to the public
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
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The main goal is to ensure that annual GST revenue, as estimated by the government, promptly accrues to the public exchequer and to improve compliance management systems.
The audit mechanism will be improved through systematic examination of taxpayer records, including physical visits to business premises to understand practices and review internal controls, particularly for top taxpayers and high-yielding cases.
Thematic Audit involves selecting specific themes or issues within prominent business sectors for in-depth analysis to identify revenue implications across the state, coordinated by state and national committees.
The AMC will review initial audit objections in periodical meetings to assess their sustainability and correctness, aiming to reduce disputes and filter out unproductive issues before audit reports are finalised.
Data from sources like GST Prime, E-way bill analytics, GSTN BIFA, and the Local Intelligence Network will be effectively used to contribute to overall organisational performance and improve GST audit outcomes.
CAclubindia
