Over Rs 80,000 crore worth GST notices issued for assessment year 2018-22
The investigation arm of the Goods and Services Tax (GST) authority has issued over 20,000 notices pan-India for assessment year (AY) 2017-18 to AY2021-22, involving tax demand of over Rs 80,000 crore, according to an initial estimation.
The Directorate General of GST Intelligence has shot the notices for a wide range of issues, including alleged shortfalls in tax payment, reversal of input tax credit (ITC), and interpretation of certain legal provision affecting a large number of taxpayers and businesses. Maximum number of show-cause notices were time-barred for August 5, for AY2017-18.
The investigation agency was mandated to issue notices at least six months before to the end of the five years. Consequently, notices were sent out before August 5 and final orders are anticipated by February 5, 2025.
“These involves pre-GST notices which may or may not be converted into GST notices, depending on the response of the companies,” an official privy to the matter said. Notably, deadline for AY2018-19 is June 30, 2025.
