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The Comptroller and Auditor General (CAG) recently reported that the CBIC is struggling with a significant shortage of staff for its auditing teams. As of July 1, 2024, nearly 38% of the positions are unfilled. This lack of personnel is causing delays and gaps in the audits that the CBIC plans to conduct. The crucial […]
The Government of India has considered the systemic issues determined by the Comptroller and Auditor General (CAG) in the GST e-way bill system and specified corrective measures to make compliance stronger and prevent misuse. The details were shared in a written reply by Minister of State for Finance Pankaj Chaudhary in the Rajya Sabha. As […]
A recent performance audit conducted by the Comptroller and Auditor General of India (CAG) has revealed notable systemic issues within the e-way bill system associated with the Goods and Services Tax (GST) framework. This audit raises important concerns regarding the accuracy and reliability of tax reporting within the system. In the State Assembly, the report […]
The recent report from the Comptroller and Auditor General (CAG) about Karnataka’s finances reveals some important issues. It showed that there were problems with how taxes were managed and enforced in various government departments. These issues led to a significant loss of revenue, totalling ₹1,260.41 crore. The findings of the report were shared in the […]
Under the Goods and Services Tax (GST) regime, to strengthen the E-Way Bill (EWB) system, the Comptroller and Auditor General of India (CAG) has sought that revenue authorities determine taxpayers generating high-value EWBs but not releasing their tax liability and report such taxpayers for scrutiny. For crossing the threshold limit and generating EWB for inter-State supply, caution […]
The Comptroller and Auditor General (CAG) has urged the Finance Ministry to periodically specify high-risk taxpayers within the GST composition scheme and validate their reported sales figures through external sources, including third parties, to declare their sales to combat tax evasion. After scrutinizing 8.66 lakh composition taxpayers under central jurisdiction in the fiscal years 2019-20 […]
The Comptroller and Auditor General of India sought the Telangana Commercial Taxes department to pursue the SCN issued for short/non-payment of tax and the same must contain Integrated Goods and Services Tax(IGST) element along with State GST/ Central GST components. The council is required to pursue the inconsistencies and deviations mentioned in the audit for […]
A show cause notice was issued to the assessee for running a bogus company and missing a bogus ITC of Rs 26.53 cr. on 1st June 2018, the related dept refused the same enrollment. The assessee gives his statements on the date of 7th June 2018 and 6th July 2018 to the Directorate of Revenue […]
The Comptroller and Auditor General (CAG) suggested that the indirect tax department must finish the verification of the transitional credit permitted beneath the process of GST. Since it is the GST transition part that was incorporated from 1st July 2017, assessees were permitted to furnish the GST Form TRAN-1 and claim for the tax credit […]
