GST authorities summon firms with 12 key docs for scrutiny, industry wary

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Central GST authorities have started summoning businesses with a set of 12 key documents pertaining to FY17-18, the GST roll-out year, for closer scrutiny suggesting an aggressive approach against suspected tax evasion. This has left the industry scared with many of them terming the move arbitrary. Many tax experts pointed out that several records called by the department are already with them and hence, such a demand is unreasonable.

Industry sources said that records called by the central GST authorities include various GST returns (GSTRs), GST registration certificate, copies of annual report, Income Tax returns, reports of cost, tax and internal audits, cash ledger and work orders, among others.

Read More at: https://www.moneylife.in/article/gst-authorities-summon-firms-with-12-key-docs-for-scrutiny-industry-wary/59122.html

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