FinMin Sitharaman asks CBIC to settle classification issues
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Finance Minister Nirmala Sitharaman has asked enforcement heads of state and central goods and services tax (GST) to settle tax cases linked to classification at its earliest.
In her address at a conference of enforcement chief of the state and the central GST formations in New Delhi, she told officials to engage with stakeholders to understand their concerns, enhance compliance, streamline processes, and work collaboratively towards.
The tax officials under GST has detected fake ITC evasion of ?.1.14 lakh crore from the year 2020 till date. "Fake entities and GST evasion not only erode our national revenue but also distort fair competition and fuel an underground economy," Sanjay Kumar Agarwal, chairman Central Board of Indirect Taxes (CBIC) told the field formations. He highlighted the importance of strong data analytics and the use of technology and the need to stay ahead of the perpetrators of GST evasion.
In her address at a conference of enforcement chief of the state and the central GST formations in New Delhi, she told officials to engage with stakeholders to understand their concerns, enhance compliance, streamline processes, and work collaboratively towards.
The tax officials under GST has detected fake ITC evasion of ?.1.14 lakh crore from the year 2020 till date. "Fake entities and GST evasion not only erode our national revenue but also distort fair competition and fuel an underground economy," Sanjay Kumar Agarwal, chairman Central Board of Indirect Taxes (CBIC) told the field formations. He highlighted the importance of strong data analytics and the use of technology and the need to stay ahead of the perpetrators of GST evasion.
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