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5 Lakh+ Business May Lose GST Registration & Many Yet to File Returns

With the rise in the strictness done by the government, the 25,000 businesses who had not furnished the GST return in November will urge to quickly file the same as the council is sending text messages as well as emails required them to follow with the needs.

Many Business May Lose GST Registration

Beyond this, nearly 5.43 lakh businesses have not furnished the GST for 6 months or more than that will occur as a risk for losing their GST registrationsGet to know the complete GST registration procedure online on the Indian government GST portal official website. We have explained by the actual screenshot of every step .

As per the department of revenue, a meeting is organized in which the questions about how to furnish the returns for November are to be asked to the defaulted assessee said in the officials meeting. The government has already given multiple warnings and relaxations, but the taxpayers and business firms are unable to adhere.

Recently the issue was also escalated to the major departments and all have echoed the voice that the registrations must be checked for such a large gap in missing registrations. The assessee is urged to furnish the GST returns Get to know the online procedure of filing GST returns in India. We provide each and every GST form according to the taxpayers category for the transactions completed in October for 5 days on the initial November 20. The taxpayer who has not filed the returns were determined on the basis of before months return.

All these assesses who have not furnished their returns have to sent the text messages and emails said the officials. GSTN the companies who proceeded with tax returns will also urge to provide one lakh text and email reminders in one day to the assessee, specifically to those non-furnished taxpayers to furnish the return on time said council.

The move to poke assessee to refine assent comes post to the improved GST revenue collections INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in the previous month in recent months. The refined economic activities and particular steps to refine the compliance leads to GST receipts of central and state governments increasing Rs 1.05 trillion in October which grows at 10.25% from the received revenue in a similar month in the previous year.

It is the 1st time that GST receipts exceed Rs 1 trillion and has reported with a higher growth rate this financial year post a sharp decrease in the starting months after back to back nationwide lockdowns.

Prompting a zero-tolerance scheme on tax theft GST council has started a nationwide crackdown on the bogus GST invoice rackets In the concern of issuing the fake invoices of Rs 2100 cr and availing for ITC of Rs 185 cr. The Maharashtra Department of Goods and Services Tax has captured the person who is running a business in Mumbai. 85 people are arrested by the Directorate General of GST Intelligence (DGGI) and field officers because of claiming or passing the tax credits in a bogus way and has listed 981 cases against 3119 bogus entities. Says the official

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Arpit Kulshrestha
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous. View more posts
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