GST in Media

Brainbees Solutions receives GST demand notice for excess ITC claim and tax shortfall for FY 2020-21

Brainbees Solutions Limited has received a notice [Form GST DRC 01 (Part A)] for intimation of liability under section 73(5) of CGST/SGST, Act 2017 for the return period 2020-21 primarily pertaining to a discrepancy between Input Tax credit (ITC) availed as per GSTR-3B and the ITC reflected in GSTR-2A from Assistant Commissioner of Commercial Taxes, Local GST Office-038, Bangalore. Department of Commercial Taxes, Karnataka, according to an exchange filing.