Merchants will incur major losses due to late GST filling
Merchants will incur major losses due to late GST filling
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Bhopal: Now notice has been issued to the Central Indirect Tax and Customs Board for two-thirds of the traders who have lately deposited GST in Bhopal Rajdhani. In which there is a total of 75 thousand GST registered traders in the capital. The same 50 thousand merchants owe more than 300 crore rupees. The number of such traders is more than 3 lakhs and tax of more than 1000 crores is being made on them.

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Departmental sources have informed that these are the majority of the people who were under the illusion that the government will not charge any interest on the balance GST due from the tax credit already deposited, even if it is submitted late. Have gone But the government has accepted that even though the tax credit has not been deposited with the tax credit deposited in the ledger, but it has been submitted late, then it will have to pay interest on the tax payable by the day. This GST Council had issued a notification on 1 February 2019 that interest will not be charged on paying GST from the tax credit. But till now these rules have not been implemented. The same merchants are continuously getting liabilities.

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MP, FMPCCI President Dr. RS Goswami said that if the trader has tax credit then it is clear that this amount has already been deposited on the bank accounts of the government. The government is also getting interested in it. In such a situation, if the trader can repay his new tax liability by using this credit, then it is not right to charge interest on it. But the government has already taken interest in it from the bank. On this, the government needs to clear the rules about this.

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