GST registration of defaulters under lens
In a move that could make it difficult for businessmen to evade filing their monthly financial transactions under the Goods and Services Tax (GST) regime, the government has directed taxmen to approach non-filers and remind them to file monthly returns, two officials said.
The government has also directed officials to cancel GST registration of chronic defaulters, who have not filed GSTR-3B— the summary return indicating supplies made, input tax credit availed and tax payment made in a month—for several months, the officials working for the Union finance ministry said requesting anonymity.
The process has started this month after authorities noticed that thousands of GST registered entities, with significant turnovers, have suddenly stopped filing monthly returns, the officials said. November 20 was the due date for filing of returns for the month of October by registered entities with more than Rs 5 crore turnover. The move is aimed at checking tax evasion while educating taxpayers that they can no longer con the system as government can easily track them through data analytics and artificial intelligence, the officials added.
After a high-level meeting in the department of revenue on this matter, the government directed taxmen to approach more than 25,000 GST assesses who failed to file GSTR-3B by November 20, one of the officials said. They have been asked to persuade such non-filers personally so that they file their returns by Monday, he added.
“These top 25,000 taxpayers, who have not yet filed their returns, were identified on the basis of last month’s statistics. Interestingly these top GST taxpayers had filed their returns in the previous month, but did not file the same this month, which is a matter of concern,” he said.
About 8 million GSTR-3B returns have been filed in November month, he said. “It was also directed at the meeting that all such taxpayers who have not yet filed their returns shall be sent SMS and email communications,” the official said.
The GST Network has also been directed to send 1 lakh SMS and e-mail reminders per day to the taxpayers, particularly to the defaulting taxpayers, to file the return in due time, he said.
Enter your email to get our daily newsletter in your inbox
- Officials are worried that technical permitting decisions are being placed in the hands of political appointees, rather than expert regulators in the field. And they’re concerned permits -- or simply changes to them -- will be delayed for existing drilling operations.
- ED's money laundering probe in the PMC Bank case began after the Mumbai police registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan among others.
- Keeping chip production in-house may be bad for Intel because its manufacturing technology has fallen behind Taiwan Semiconductor Manufacturing Co., which makes chips for many of Intel’s rivals. If the US company can’t catch up, its products will become less competitive, lose sales and market share.
- Iran has been subject to tough US sanctions since 2018, when the administration of then-President Donald Trump unilaterally withdrew from an international deal that restricted the Middle Eastern country’s nuclear activities. Its crude production was below 2 million barrels a day for most of 2020.