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A resident of Lathi village in Jaisalmer district was left shocked after receiving a showcase notice from the goods and services tax (GST) department to pay dues of around Rs. 4.9 crore at the earliest. The farmer with a monthly income of just Rs. 5,000 has lodged a police complaint regarding the same. The notice mentioned that strict action will be taken if tax is unpaid.
Read more at: THE TIMES OF INDIA
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The government has identified a clutch of products where inverted duty structure is distorting trade and impacting manufacturing competitiveness and has initiated the process to address the issue, a senior official said.
India’s tax dispute burden is rising sharply, despite multiple policy interventions aimed at streamlining compliance and reducing litigation. The Standing Committee on Finance, in its latest report tabled in Parliament on Wednesday, flagged a 198% jump in the amount of disputed direct taxes over two years.
The upcoming Goods and Services Tax (GST) Council meeting on September 9 will discuss rationalisation of rates on several items but a decision regarding any rate change will be taken in subsequent meetings,