Sunday, May 22nd, 2022

GST Rule Change: Property will be attached without notice if less tax is paid, these special changes will happen from the new year


Business Desk, Amar Ujala, New Delhi

Published by: Deepak Chaturvedi
Updated Fri, 24 Dec 2021 06:02 PM IST

Summary

With the beginning of the new year, many rules are going to change. In this episode, the Central Board of Indirect Taxes and Customs (CBIC) has decided to tighten many rules related to GST refund to penalty, deposit of tax.

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There are only eight days left for the beginning of the new year on January 1, 2022. Along with this, many rules are also going to change from the beginning of the new year. In this episode, the Central Board of Indirect Taxes and Customs (CBIC) has decided to tighten many rules related to GST refund to penalty, deposit of tax.

then the refund of the claim will stop
The CBIC has also issued a notification regarding these changes. According to this, businessmen whose GST number will not be linked with Aadhaar may face many restrictions and difficulties from January 1. The refunds claimed by the dealers failing to do so will be stopped. Along with this, if the registration is canceled due to any reason, then he will not be able to apply for restoration of business registration.

Strictness on paying less tax
Apart from this, according to the notification of CBIC, there have also been major changes in the action to be taken if the tax is less or not paid. Till now, there was a long notice process of attaching bank accounts or properties against those who did this, which has now been abolished. This means that now the property will be attached without notice. Many times businessmen used to pay less tax by showing less sales or fake companies used to deduct a lot of bills but pay less tax.

Appeal method changed in e-way bill transport
For mistake in transporting goods through e-way bill, now the penalty will be doubled directly by eliminating the tax provision. Now on appeal against the penalty, only after filling 25 percent of it, there will be an appeal at the higher level. Earlier it was fixed at 10 percent of the tax.

Scope

There are only eight days left for the beginning of the new year on January 1, 2022. Along with this, many rules are also going to change from the beginning of the new year. In this episode, the Central Board of Indirect Taxes and Customs (CBIC) has decided to tighten many rules related to GST refund to penalty, deposit of tax.

then the refund of the claim will stop

The CBIC has also issued a notification regarding these changes. According to this, businessmen whose GST number will not be linked with Aadhaar may face many restrictions and difficulties from January 1. The refunds claimed by the dealers failing to do so will be stopped. Along with this, if the registration is canceled due to any reason, then he will not be able to apply for restoration of business registration.

Strictness on paying less tax

Apart from this, according to the notification of CBIC, there have also been major changes in the action to be taken if the tax is less or not paid. Till now, there was a long notice process of attaching bank accounts or properties against those who did this, which has now been abolished. This means that now the property will be attached without notice. Many times businessmen used to pay less tax by showing less sales or fake companies used to deduct a lot of bills but pay less tax.

Appeal method changed in e-way bill transport

For mistake in transporting goods through e-way bill, now the penalty will be doubled directly by eliminating the tax provision. Now on appeal against the penalty, only after filling 25 percent of it, there will be an appeal at the higher level. Earlier it was fixed at 10 percent of the tax.

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