Considerations to be taken for cancellation of registration against non-GST return filers

New delhi date. 18 November 2019, Monday

The Goods and Services Tax (GST) administration is considering taking drastic measures against taxpayers who do not file returns and cancel their registration. It has also been decided to update the progress made in this regard on a daily basis.

Return filings make it easier for the tax authorities to estimate the tax liability and also know how much tax has been paid.

Twenty percent of taxpayers do not file their returns, which causes problems for GST collection. The Central Board of Indirect Taxes and Customs visited the Chief Commissioner and Commissioner, Principal, GST and Customs.

According to the information received, the Chairman of The Central Board of Indirect Taxes has expressed displeasure over non-progress in canceling the registration of non-filers. Taxpayers who do not file GSTRB can be prosecuted under GST law.

The cancellation of registration of taxpayer who did not file GST returns should be expedited and the concerned sources were instructed to file their report by November 7, sources said.

There is a provision for cancellation of registration under section 4 of the Central Goods and Services Tax (CGST) Act. As per GST law, a registered taxpayer has to file returns on a monthly or quarterly basis.

Meanwhile, the GST administration has been instructed to hold a special filing demonetization session for the new system of returns. This is the strategy behind getting feedback before the new system goes into effect April 1st. At present, there are 8.5 million taxpayers of GST.


Comments

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

Information about soymilk and casein products

The brokerage firm objected to SEBI's new proposal regarding Algo Trading