Bank Accounts May be Attached If Taxpayers Fails to File GST Returns

Recently there is an issuance of a strict rule which states that if the taxpayers do not file the goods and services tax returns, there will be an attachment of bank account and there may be registration cancellation too. This has been decided to be Standard Operating Procedure (SOP) as recognized by the Finance Ministry which will be assumed whenever the taxpayer is considered as non-filer of GST return. As per the GST rules, every taxpayer has to file 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 whether he is a normal supplier (monthly returns) or composition scheme taxpayer (quarterly return).

Also, the ISD (Input Service Distributor) will be filing monthly returns which will include credit details distributed in the month. The TDS deductor and the TCS collector will be required to file monthly returns which would describe the amount deducted or collected with specific details.

Not to forget that the non-resident taxable individuals are also required to file the GST returns for the given time period in which they have done business. These all SOP has been declared by the Central Board of Indirect Taxes and Custom (CBIC) which has been called out in the meantime when the taxpayer does not file the returns.

The ministry will give notice in the form of GSTR 3A Get to know all about GSTR 3A notice for the non-filers or defaulters of GST returns. Also, we showcased the format of GSTR 3A form along with penalty/late fees in 5 to 15 days as per the required details received by the ministry. If in the 15 days’ time the details not received will make the ministry issued the order under Rule 100 of the CGST Rules in Form GST ASMT-13.

All the procedures will be done on the evidence and the taxpayer will also be heard. As per the professional chartered accountant statement, “it may be noted that due to the slowdown and cash crunch, taxpayers are already struggling to survive. Thus, the proposed steps will effectively mean halting businesses, with negative consequences for taxpayers and the economy.”