Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Live Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023
you are here: HomeNewsBusiness

5,000 companies under scanner over mismatch between I-T and GST filings: Report

The companies are said to have claimed input tax credit through dummy companies. In their GST filings, they showed transactions between companies that were either unrelated or had no business history

January 27, 2020 / 11:10 PM IST

Around 5,000 companies have come under the scanner of tax authorities due to alleged discrepancies between their Goods and Services Tax (GST) filings and Income Tax (I-T) returns, Business Standard reported.

The Central Board of Direct Taxes (CBDT) has ordered search-and-survey operations against these mid-and-small sized companies, including owners of business houses.

The information, based on GST Network (GSTN) data, has been shared with states so that they can take appropriate action immediately.

The companies allegedly inflated GST claims and under-reported income in their I-T filings, the report added.