The Union Finance Ministry's Revenue Department is taking steps to cancel the Goods and Services Tax (GST) registration of about 5,43,000 businesses for allegedly defaulting on filing tax returns for the last six months or more.
In order to monitor the activity of defaulters failing to file their monthly summary return of transactions (form 3B) in November, the department has asked the officials to follow up with 25,000 businesses, LiveMint quoted an official.
MoneyControl couldn't verify the report independently.
GST portal is ready to handle up to 3 lakh taxpayers concurrently as indirect tax e-filings rise.
Earlier, the Revenue Department had set the deadline for a taxpayer to file return for the transactions done in October in the five days, starting November 20. Based on the previous month’s return statistics, the defaulters in November were identified.
Apart from being monitored, all the defaulters would receive text messages and emails from the department, the report claims. Also, GSTN has been asked by the government department to send one lakh text and e-mail reminders a day to the taxpayers to file their return on time.
The GST collection for October 2020 scaled to Rs 1.05 trillion, which was 10.25 percent higher in the same month a year ago. So far 85 persons for availing of or passing on tax credits fraudulently have been arrested by the Directorate General of GST Intelligence (DGGI) and 981 cases against 3,119 fake entities have been filed.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
