No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj, former Union revenue and economic affairs......
GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent. Photograph: PTI Photo......
GST taxpayers will be required to reverse by November 30 the input tax credit (ITC) claimed in the last fiscal in case their suppliers fail to deposit the due tax by September 30, the finance......
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.''Since the entities registered across different states, and kept on changing their numbers,......
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.' IMAGE: Finance Minister Nirmala Sitharaman with Vivek Johri, chairman,......