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Relief for industry and GST taxpayers as govt cracks down on GST demand notices: Report
Photo Courtesy: Representational image from Wallpaper Cave

Relief for industry and GST taxpayers as govt cracks down on GST demand notices: Report

| @indiablooms | 06 Jul 2024, 03:09 pm

New Delhi: The government has decided to send any GST (Goods and Service Tax) demand notice to the taxpayers, only once there is approval from the Union Ministry of Finance in the North Block, reports CNBC TV18.

The government's decision gives a major relief to the industry and GST taxpayers in the country.

CNBC TV18 reported, quoting official sources, that the Directorate General of GST Intelligence (DGGI) can not send any tax demand notices where it is an interpretation or a classification matter, without the approval of the policy wing under the Central Board of Indirect Taxes and Customs (CBIC).

Under GST regime, DGGI, which is the central intelligence agency of CBIC, keeps a close vigil on tax dues, tax unpaid, tax evasion and misreporting of taxes.

DGGI was often accused of sending notices to taxpayers, and industry, where the industry held a different view and the intelligence arm held a different assessment of taxes, leading to stuck payments, delays in taxes and piling up of cases, as reported by CNBC TV18.

"The move is aimed at reducing litigation, deploying the intelligence resources in the right direction and where they are needed the most, thus bringing in ease of living and ease of doing business under the GST regime," sources told CNBC TV18.

"Through this, the DGGI resources will be used more efficiently and will lead to meaningful conclusions to cases and demand notices," the sources were quoted as saying by CNBC TV18.

"The DGGI will continue to conduct investigations, checking tax leakages and, as and when it detects an evasion, it will inform CBIC ... It will be then upon CBIC on whether it wants to announce corrective clarifications to avoid discrepancies and loopholes in the law," the sources added.

CNBC TV18 reported that the recent 53rd GST Council meeting had approved a series of clarifications, which has given a breather to several sectors including foreign shipping lines, MNCs, foreign airlines, start-ups, etc, operating in the country, which were embroiled with a series of DGGI notices.

"The recent notifications have put to rest notices sent to several sectors, making them null and void, putting them to rest on 'as is, where is, basis," sources told CNBC TV18.

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