Invoice matching mechanism in GST to check frauds - FM
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Union Finance Minister Arun Jaitley has said the invoice matching mechanism in the Goods and Services Tax, which will be rolled out from 1st of July, will help curb fake bill frauds.
In a letter to Congress Rajya Sabha member Digvijaya Singh, Mr Jaitley said there is only one GST return with internally auto-populated returns for invoice matching and availing of input tax credit .
He said it is through the invoice matching and automated return mechanism that the government can ensure eligible input tax credit is accurately transferred between the states .
Mr.Singh, in his letter to the Finance Minister had said multiple tax returns would have to be filed by businesses leading to compliance burden. #casansaar (NewsonAir)
In a letter to Congress Rajya Sabha member Digvijaya Singh, Mr Jaitley said there is only one GST return with internally auto-populated returns for invoice matching and availing of input tax credit .
He said it is through the invoice matching and automated return mechanism that the government can ensure eligible input tax credit is accurately transferred between the states .
Mr.Singh, in his letter to the Finance Minister had said multiple tax returns would have to be filed by businesses leading to compliance burden. #casansaar (NewsonAir)
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