Top
Begin typing your search above and press return to search.

Taxpayers worried over GST red-flag reports

Taxpayers worried over GST red-flag reports

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 Nov 2019 5:06 AM GMT

New Delhi: Many GST taxpayers, especially small firms, are a worried lot these days with authorities sending system-generated red flags in their online return forms.

A Delhi-based GST practitioner said that taxpayers are given very little time to respond to the red flags, creating panic among the assessees.

“The assessees are always scared of any communication coming from the tax authorities. The red-flag reports are so detailed and long that any person would get panicked,” said Rajat Mohan, Senior Partner, AMRG & Associates.

IANS has seen a red-flag report to the taxpayer.

Sources said that the red-flag reports are very detailed and highlight discrepancies across various parameters. The reports highlight unreconciled items, non-compliance and deficiencies in the digitally-filed documents.

Now that businesses have started filing their annual returns and reconciliation reports, the number of red-flag reports for the assessees have jumped.

“Our experience is that wherever such incidents have occurred and assessees have approached the authorities, they have been very responsive,” said Amit Bhagat, Partner, Dhruva Advisors.

“There are examples where authorities have been very helpful but there are situations where there are actually no remedies either because of system related issues or the problem is unique,” he added. (IANS)

Also Read: GST portal stops working, returnees gripe on Twitter

Also Watch: Kokrajhar operations against illegal timber smugglers, seized valuable logs from Chirang & Kokrajhar

Next Story