CBIC issues scrutiny norms related to GST
NEW DELHI : The Central Board of Indirect Taxes &
Customs (CBIC) on Tuesday issued scrutiny guidelines for
GST, for the first two years of the new indirect tax
regime, as part of a plan to plug leakages and shore up
The CBIC has shared an
indicative list of parameters, which suggested that
there was special emphasis on entities claiming input
tax credit (ITC) from certain segments, along with those
where tax collected at source, such as for ecommerce.
For the last couple of years, tax authorities are
keeping a close watch on ITC as they have come across
multiple cases of fraud and inclusion in the list of
parameters points to possible steps in future, in case
widespread misuse is seen.
Almost five years after
its launch, the government is looking at scrutiny and
tighter audit norms to ramp up revenue generation from
GST, along with a revamp of the rate structure for which
ministerial panels are at work.
The standard operating procedure issued to field
officers on Tuesday said that the Directorate General of
Analytics and Risk Management has been assigned the task
to select the GSTINs registered with central tax
authorities, whose returns will be picked up for
scrutiny. The GST numbers will then be shared with the
officers of the zone, with strict timelines given to
complete the process.