Powered by: Motilal Oswal
12/05/2023 9:46:09 AM | Source: IANS
CBIC rolls out automated scrutiny module for GST returns
News By Tags | #248 #252 #534 #3300 #2448
CBIC rolls out automated scrutiny module for GST returns

The Central Board of Indirect Taxes (CBIC) has, from this week, rolled out the automated return scrutiny module for GST returns, which will enable tax officers to carry out scrutiny of GST returns of Centrally-administered taxpayers selected on the basis of data analytics and risks identified by the system.

In the module, discrepancies on account of risks associated with a return are displayed to the tax officers, who are provided with a workflow for interacting with the taxpayers through the GSTN common portal for communication of discrepancies.

Implementation of this automated return scrutiny module has commenced with the scrutiny of GST returns for 2019-20, and the requisite data for the purpose has already been made available on the officers' dashboard, official sources said.

During a recent review of the CBIC's performance, Finance Minister Nirmala Sitharaman had given directions to roll out an automated return scrutiny module for GST returns at the earliest.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here