Gst Evasion To Attract Tax Authorities
Dec 17, 2018 By Admin
Get ready to expect Tax Authorities at your doorstep if you haven’t filed your GST returns or paid taxes. Since the authorities are looking for answer to the GAP QUESTION, as to out of 11.2 crore registered GST no.s only 6.92 crore filed returns till November. There's a huge gap of around 38%. It's observed that most of the companies have GST No. but perhaps they might not have any sales or they doesn't know the formalities of filing the returns or didn't approach any professional who can file return on their behalf. There must be few accesses who are wilful defaulters, not depositing the tax and not filing the returns.
The authorities are gearing up to put up a plan to find these missing GST payers and are ready to take measures such as visiting the premises of the defaulters. The Taxmen are empowered under the GST law to visit the premises of the defaulter in order to safeguard the revenue interests.
Since the authorities want strict compliance under GST, companies will have to work carefully towards GST compliance and filings so as to avoid taxmen standing at their door. Going by the mood of the authorities, such measures are expected to be taken more often with straight objective of finding the wilful defaulters and to make them deposit their taxes.
Published by : RAKESH KANWAR & CO.
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