GST officers will instantly droop registration of taxpayers whose gross sales return or GSTR-1 varieties present “important variations or anomalies” from the return filed by their suppliers, a transfer geared toward curbing tax evasion and safeguarding revenues.
The Central Board of Oblique Taxes and Customs (CBIC) has issued a Normal Working Process (SOP) for suspension of registration of an individual on observance of such discrepancies /anomalies which point out violation of the GST Act.
As per the SOP, the registration of specified taxpayers shall be suspended and system generated intimation for suspension and spot for cancellation of registration in kind GST REG-31, containing the explanations of suspension, shall be despatched to such taxpayers on their registered e-mail handle.
The registration can be suspended in circumstances the place a comparability of the returns furnished by a registered individual with the main points of outward provides furnished in kind GSTR-1, or the main points of inward provides derived based mostly on the main points of outward provides furnished by his suppliers of their GSTR-1, present ‘important variations or anomalies’, indicating contravention of the provisions of the GST Act.
“Until the time performance for FORM REG-31 is made accessible on portal, such discover/intimation shall be made accessible to the taxpayer on their dashboard on the widespread portal in Kind GST REG-17.
“The taxpayers will have the ability to view the discover within the ‘View/Discover and Order’ tab put up login,” the SOP mentioned.
Items and Companies Tax (GST) officers have already intensified their drive towards faux invoicing and this has additionally contributed to extend in tax collections previously couple of months.
GST collections have crossed the Rs 1 lakh crore mark for 4 consecutive months and surged to an all-time excessive of about Rs 1.20 lakh crore in January.
The SOP additional mentioned the taxpayers whose registrations are suspended can be required to furnish reply to the jurisdictional tax officer inside 30 days from the receipt of such discover / intimation, explaining the discrepancies / anomalies and the explanations as to why their registration shouldn’t be cancelled.
Reply must be despatched to the jurisdictional officer by means of the widespread portal inside 30 days from the receipt of discover / intimation.
In case the intimation for suspension and spot for cancellation of registration is issued on floor of non-filing of returns, the mentioned individual could file all of the due returns and submit the response, the SOP added.
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