In a significant move to enhance transparency and accountability in the indirect taxation system, the Central Board of Indirect Taxes and Customs (CBIC) has issued a strong directive to all Goods and Services Tax (GST) field formations across India. This …
This CAG report underscores the critical need for stringent audits and immediate remedial action to curb revenue leakage. The Comptroller and Auditor General (CAG) of India has identified significant revenue losses amounting to ₹755.49 crore due to under-assessment, short levy, …
The recent guideline emphasizes that, during the audit process, if a Principal Commissioner of CGST Audit encounters scenarios where taxpayers have followed prevalent trade practices based on specific interpretations of GST laws, which could lead to multiple understandings and potential …
The Central Board of Indirect Taxes and Customs (CBIC) has instructed each zone to establish a framework for joint GST audits in their Respective Jurisdictions. Starting this financial year, businesses under the indirect tax regime will undergo joint audits by …