Govt to notify rules for setting up GST appellate tribunals soon

New Delhi, July 4 (KNN) The Centre will soon notify the rules for setting up GST appellate tribunal, a senior CBIC official said on Monday.

The rules and regulations will be notified after an approval from the GST council.

Central Board of Indirect Taxes and Customs (CBIC) Member Shashank Priya said the members for the appellate tribunal will be appointed after approval from the Council.

Speaking at the Federation of Indian Chambers of Commerce & Industry’s GST conclave, Priya said, “ GST authorities are also working to expand the taxpayer base and undertake more data triangulation with the corporate taxpayers database in the income tax regime.”

“Currently, only 40 per cent of the corporate income taxpayer base is registered under GST, while as many as 1.39 crore businesses are registered under GST, almost double of the number at the time of the launch of the indirect tax regime six years ago,” he  said.

Priya said there are some businesses who have misused the registration process and now the CBIC is working to tighten the registration process and use information technology to catch fraudsters.

He pointed out that 45,000 fake GST registration involving evasion of Rs 13,900 crore is under scanner in the ongoing two-month long drive by central and state tax officers to catch fake registration. 

The officers have also blocked wrongful availment of ITC worth Rs 1,430 crore.  (KNN Bureau)