GST Appellate Tribunal will be formed in India, benches will be established in states
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New Delhi : The Modi government at the Center will soon set up a GST Appellate Tribunal to settle cases related to Goods and Services Tax (GST) in India. Before setting up the tribunal, the rules will be notified by the government. Members will be appointed for this. Shashank Priya, Member, Central Board of Indirect Taxes and Customs (CBIC) said the department is working to widen the taxpayer base and is using data from various sources in the case of corporate taxpayers in the income tax regime for accurate assessment .
1.39 crore companies registered under GST
According to statistics, at present only 40 per cent of the company income tax payer base is registered under GST. There are 1.39 crore companies registered under GST. This is almost double the number of goods and services applicable from July 1, 2017. During this, the average monthly GST collection has also increased. Where it was Rs 89,885 crore in 2017-18, it has increased to Rs 1.50 lakh crore in 2022-23. The average income so far in the current financial year was Rs 1.69 lakh crore per month. He said that we are taking steps after thinking. We are in the process of taking business friendly steps.
Approval of changes in the Finance Bill in March
Shashank Priya said at the GST convention of FICCI that after getting approval from the GST Council, we are in the process of notifying the rules. We have to set up institutions with the workforce. We hope it will happen soon. The council will also approve the work experience and eligibility of the members of the tribunal. In March, Parliament approved changes to the Finance Bill to pave the way for setting up an appellate tribunal to resolve disputes under GST.
GST tribunal bench will be established in each state
According to the plan presented by the government, GST tribunal benches will be set up in each state of India, while Delhi will have a principal bench. At present, taxpayers have to go to the concerned High Court if they have a complaint with the system of the tax authority. Since, there are already a large number of cases pending in the courts. In this case, there is a delay in the resolution process. Also, they do not have any special bench to deal with GST cases. In such a situation, by setting up benches at the state and national level, the disposal of cases will be done faster.
45,000 fake GST registrations under investigation
Shashank Priya further said that there are some companies, who have misused the registration process. Now CBIC is using information technology to tighten the registration process and catch wrongdoers. He said 45,000 bogus GST registrations involving evasion of Rs 13,900 crore are under scrutiny in a two-month-long drive by the central and state tax officials to crack down on bogus registrations. Apart from this, the officials have also stopped wrongful availing of input tax credit of Rs 1,430 crore.
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