Indore: ‘After roll out of GST, tax collection rose from 80K cr to 1.40L cr’

Indore (Madhya Pradesh)

Neerav Kumar Mallick, commissioner Central GST (Audit) has said that after the implementation of GST in the country, the monthly GST collection has rose from Rs 80,000 cr to over Rs 1.40 lakh cr The credit of its success goes to the businessmen and departmental officers, but CAs and tax consultants have also made a very important contribution. Officers, CAs, lawyers, and economists etc. have already worked hard before the implementation of GST.

Senior IRS officer Mallick was addressing an interactive session on GST audit here on Saturday. It was organised by CA Indore Branch of ICAI and Tax Practitioners Association.

Addressing as a key note speaker Mallick said that departmental audit is not only a means of tax collection but many such cases are seen where the businessman is paying more tax by mistake which can be rectified by this audit. Discussing about the implementation of GST and its success, he said that even before India, many countries have implemented GST, but many countries have had to withdraw the tax regime as it could not be implemented properly.

Virendra Jain, additional commissioner of GST department, informed that whenever a notice is issued, the audit has to be completed within 90 days from the date of issue of documents. This time can be extended up to six months with special permission. In such a situation, if all the basic documents are made available in one go, then the audit becomes easy.

Kirti Joshi, Regional Council Member of ICAI, presented the side of the tax consultants and taxpayers. Joshi said that in the audit memos issued by the department, in many cases it is not clear whether the notice has been issued under section 73 or section 74.

Anand Jain, chairman CA Indore Branch, said that it was a unique programme of its kind in which both the department and the CA and the tax advisor put forth their points.

Published on: Sunday, July 17, 2022, 12:20 AM IST