Alert for taxpayers GST Registration may be cancelled if a big fault found in Sales returns
This is a major step taken by the government regarding goods and services tax (GST). According to the official announcement that if any taxpayers found a big fault in GST sales returns then that organization or the user’s GST registration has been canceled for a lifetime period. And if that taxpayer is found guilty then ready to pay a fine. All these can be acknowledged with the help of this process. If any taxpayers show a big difference in sales return i.e. GSTR-1 form and return filed by the taxpayer. GST officers have now been given this right to curb tax evasion and save revenue.
A new SOP (Standard operating procedure has been created or regulated by the central board of direct taxes and customs (CBIC). In that procedure of SOP, officers of the Indian government tax system can on the spot cancel taxpayer’s registration for a lifetime in case of a big fault found in the GST sales returns.
According to the SOP, if a registered person shows a big difference in sales returns and the information filled in the GSTR-1 from that situation, the GST Officers can cancel GST registration. If the taxpayers did such kind of mistake then registration-31 form not available on the portal for a certain time being users can inform this big fault on registration form 17.
A clear notice in the pdf format has been displayed on the official website of the GST. for detailed information, the user must read the complete notice by clicking on “View notice and order”. This is the big step taken by the Indian government to stop corruption in GST. All these great efforts we can see over the last 4 months’ stats. Each month’s GST collection is above Rs 1 lakh crore. If we discuss last month’s stats then GST collection is above 1.20 lakh crore. This is the highest GST collection ever after lockdown. That shows a positive symbol regarding India’s economy.