Finance Secretary, CBIC chief discuss anti-GST evasion steps with zonal heads

By: |
November 24, 2020 8:08 PM

The meeting discussed the need for coordinated action to check revenue leakage, it added.

There are about 6 lakh dormant registrants in GST.There are about 6 lakh dormant registrants in GST.

Finance Secretary Ajay Bhushan Pandey and CBIC Chairman M Ajit Kumar on Tuesday discussed with zonal chiefs measures to check GST evasion and plug revenue leakage.

“Finance Secretary, Chairman CBIC and Board Members held Video Conference with Zonal Chiefs. Discussions centered on ongoing anti evasion measures and action relating to CGST registrants displaying risky behaviour,” the Central Board of Indirect Taxes and Customs (CBIC) tweeted.

The meeting discussed the need for coordinated action to check revenue leakage, it added.

The GST law committee, comprising central and state tax officers, had last week suggested suspension of the first lot of riskier traders and identification of such taxpayers on the basis of significant criteria, including non-filing of returns for six months.

There are about 6 lakh dormant registrants in GST.

There were about 35,000 dealers who were given registration in 2018-19 and 2019-20, having GST liability of more than Rs 50 lakh (yearly), but more than 99 per cent tax paid through ITC and have no credentials in income tax (did not pay income tax even of Rs 1 lakh in last three years), sources said.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1World Economic Forum’s online Davos summit to begin Sunday; Modi, Jinping among listed speakers over six days
2CM Nitish Kumar must bridge political-economic divide in Bihar with more balanced choices on policy fronts
3Kerala passes resolution against CAG’s audit report