A businessman earns money doing a lot of hard work and will never let go a little penny for misconduct of any person, may it be its compliance staff and/or anybody. GST is the biggest indirect tax reform implemented in India. GST compliances which were envisaged to be easier and less complex, have turned out to be a compliance nightmare with multiple and frequent changes in the tax returns and reporting requirements. Further, the GST portal has been a puzzle and cause of concern for many taxpayers since its inception. There are 21 offences under GST. For easy understanding, these have been grouped into heads as given below:
An offender has to pay a penalty amount of tax evaded/short deducted etc., i.e., 100% penalty, subject to a minimum of Rs. 10,000.Additional penalties as follows-
|Tax amount involved||100-200 lakhs||200-500 lakhs||Above 500 lakhs|
|Jail Term||Upto 1 year||Upto 3 years||Upto 5 year|
|Fine||In all three cases|
Cases of fraud also face penalties, prosecution, and arrest.
Under GST, The onus to prove the correctness, compliance and calculations is cast on the registered taxpayer. In case of wrong procedure or wrong calculation or wrong or non-compliance, the registered taxpayer is liable to pay a huge interest/penalty. Prevention is always better than cure, and therefore, corrective actions can be taken before it’s too late. This would certainly give confidence to the taxpayer about the level of compliance maintained by him. We have completed six years of GST implementation. If not yet done, This is the right time to cross-check the GST compliance and rectify the same as soon as possible. The Government has made frequent changes in GST law which have created confusion in the mind of taxpayers which has further resulted in either non-compliance or wrong compliance. Due to non-availability of amended information/legal provision and knowledge on a timely basis, many taxpayers have either received undue benefits or incurred losses.
Under GST Health Check Up, We check and review in detail the followings :
Both you and us need to understand whether we are a good fit for each other. We also need to arrive at the exact scope of work and the fee thereof.
We are pleased to offer a FREE consultation session for this purpose.