CBIC launches a campaign to verify the presence of GST numbers and will fine ₹ 50,000 for failing to do so.
According to the Central Board of Indirect Taxes and Customs (CBIC), businessmen who are registered on the GST network portal in Punjab’s Bathinda must display their GST number at their premises in order to avoid a fine of up to ₹ 50,000. The CBIC has ordered all businessmen to strictly adhere to the GST number display rule and is conducting a campaign for GST verification till September 15.
The campaign aims to increase GST collection by verifying each businessman’s registration with the GST. The GST department divided the district, which has about 14,000 businesses, into 9 wards. The owners of the businesses must write their GST number on the wall or main board of their establishments.
According to Assistance Excise and Taxation Commissioner (AETC) Kapil Jindal, businesses that fail to display their GST number are subject to a fine of ₹ 50,000 ( ₹ 25,000 from the state government and ₹ 25,000 from the federal government). According to him, a lot of businesspeople disregard this rule, and some even cheat customers out of GST.
Restaurant or dhaba owners with an annual turnover of less than 50 lakhs are included in the composite scheme and have no right to collect GST. But such small restaurants and dhaba’s also charge five per cent GST from the customers.
The taxation department will act strictly regarding this issue and will take action against those who do not comply. Under the campaign, officials are first going to those businessmen who have claimed input tax credits in excess of sales. The display of the GST number will help the officers investigate whether the tax is deposited by them or not.
Taxpayers in other states should also be cautious, as neglecting the same would impose the above fine on the respective businessmen.
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