Search results for: GST authorities

Recently, the companies whose tax payments do not match with the e-way bills generated have been asked for clarification by the GST officers. The revenue authorities have found this tax evasion while matching outward good supplies with the data, as reported from the sources.

Tax sleuths have planned a fresh crackdown on traders practising tax evasion of Goods and Services Tax (GST) by pursuing new registration for their businesses without dismissing a prior one.

Recently, the goods and service tax (GST) authorities are seen in a hyperactive mood tightening their reigns on the taxpayers, who are found guilty of not paying their tax dues.

Many of the exporters have come under the tracing radar of tax authorities in India for claiming the tax credit two times for the same export under the inverted duty structure.

Clarity regarding GST & ITC is much required by any Company and industry, Big or small, as it touches the Economy part of the Businesses. GST Council has constantly endeavoured to make the process crystal clear and gave proper clarification regarding any discrepancy.

As a result of the recent GST tax reduction, the Starbucks was expected to make relevant cost reduction on its products and supplies, but reflecting fishy, the Tax authorities have questioned about the Brand’s prices and has issued two sets of letters asking about the data to get close to the exact position.

The GST authorities noticed that the decrease in the GST rates has not extended any significant advantages from the traders of fast moving consumer goods (FMCG) and pharmaceuticals to consumers