GST: Mismatches in Sales Return to cause Businesses to lose GST Registration immediately

GST - Sales Return - Businesses - GST Registration - Taxscan

The Central Board of Indirect Taxes and Customs (CBIC) has issued the standard operating procedures (SOP) stating that the mismatches in sales return to cause Businesses to lose GST registration immediately.

The SOP has been issued for the suspension of registration of taxpayers on account of discrepancies which indicate breach of GST laws.

The idea of the set of instructions to field officers is to ensure uniformity in the way registrations are suspended and subsequently restored if the taxpayer answers the queries of officials satisfactorily.

The SOP also instructs officials to collect any tax dues before the registration is restored or to cancel the registration if they find it necessary.

The Board in order to safeguard the interest of the revenue department, notified the legal provision for immediate suspension of registration for anomalies in the tax returns.

The government’s drive to enhance compliance of goods and services tax returns has led to improved tax collections over the past two months.

Goods and services tax collection crossed the  Rs.1 trillion mark for four consecutive months, touching an all-time high of about Rs.1.2 trillion in January.

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