Tag: GST Audit
GST Audit by Department (Section 65 & 66 of CGST Act, 2017)
GST works on a trust-based system. Under GST, the taxpayer himself measures the tax liability; pays the requisite taxes and accordingly, files the returns. In order to ensure the correctness of the self-assessment done by the taxpayer, audit under GST plays a vital role.
GST Audit cannot be conducted after winding up of business
The Hon’ble Madras High Court in Tvl. Raja Stores v. The Assistant Commissioner (ST), held that, that Section 65 of the CGST Act applies only to registered businesses and concluded that authorities cannot conduct audits for businesses that have closed and further clarified that there is no barring in initiating proceeding under Section 73 and 74 of the CGST Act.
50,000 cases to be taken up for GST audit in FY24, says CBIC chairman
CBIC Chairman said in an interview that 50,000 fresh cases will be taken up for the GST Audit in the current financial year.
Model All India GST Audit Manual 2023
The Committee of Officers on GST Audits has prepared ‘Model All India GST Audit Manual 2023 Table of contents Chapter…
GST audits led to detection of Rs. 22,000 cr tax evasion
The GST audits undertaken by the indirect tax administration in the current financial year have led to the detection of…
Govt. working on making GST audits uniform across the country
The Central and state governments are working on making goods and services tax (GST) audits uniform across the country which…