Skip to content
  • Facebook
  • X
  • Linkedin
  • WhatsApp
  • YouTube
  • Associate Journalism
  • About Us
  • Privacy Policy
  • 033-46046046
  • editor@artifex.news
Artifex.News

Artifex.News

Stay Connected. Stay Informed.

  • Breaking News
  • World
  • Nation
  • Sports
  • Business
  • Science
  • Entertainment
  • Lifestyle
  • Toggle search form
  • Access Denied
    Access Denied Nation
  • “Sachin Tendulkar Wasn’t A Big Name”: Ex-Australia Cricketer-Turned-Lawyer Who Got Him Out In 1991/92 PM’s XI Game
    “Sachin Tendulkar Wasn’t A Big Name”: Ex-Australia Cricketer-Turned-Lawyer Who Got Him Out In 1991/92 PM’s XI Game Sports
  • Madurai Reader’s Mail – The Hindu
    Madurai Reader’s Mail – The Hindu Nation
  • Trump administration sues Harvard over treatment of Jewish and Israeli students, seeks billions of dollars
    Trump administration sues Harvard over treatment of Jewish and Israeli students, seeks billions of dollars World
  • Access Denied Sports
  • 2nd Time In 147 Years: Pakistan Hit New Low With Abysmal Run Leak vs England
    2nd Time In 147 Years: Pakistan Hit New Low With Abysmal Run Leak vs England Sports
  • Iran holds funeral for slain Hamas chief Haniyeh
    Iran holds funeral for slain Hamas chief Haniyeh World
  • Access Denied
    Access Denied Nation
Now, GST probe into big corporates, major MNCs needs a ‘written approval’

Now, GST probe into big corporates, major MNCs needs a ‘written approval’

Posted on March 31, 2024 By admin


For all investigations, tax officials have been asked to ascertain if any inquiry has already been initiated on the same subject matter or with respect to the same taxpayer or GST Identification Number by another investigating office or tax administration. File
| Photo Credit: The Hindu

The Department of Revenue has asked the Central Goods and Services Tax (CGST) officials to seek a prior written nod of zonal Chief Commissioners before initiating any investigation in cases relating to big industrial houses and major multinational corporations (MNCs), as well as “sensitive matters or matters with national implications”.

The directive is part of a set of instructions issued on March 30, titled ‘Guidelines for CGST field formations in maintaining ease of doing business while engaging in investigation with regular taxpayers’, which state that each investigation must be initiated only after the approval of the Principal Commissioner.

The guidelines further specify situations where the “prior written approval of the zonal (Pr.) Chief Commissioner shall be required if investigation is to be initiated and action to be taken in a case falling under” four categories.

Apart from large corporates and major MNCs, a written nod is also mandated for matters that are already before the GST Council and “of interpretation seeking to levy tax or duty” on any sector, commodity, or service for the first time, whether in Central Excise or GST. Tax experts were not yet clear about how a ‘big industrial house’ and major MNC would be defined under these norms.

In all these categories of cases, including “sensitive matters or matters with national implications”, the CGST field formation concerned should also collect details regarding the prevalent trade practices and nature of transactions carried out, from stakeholders. “The implications/impact of such matter should be studied so as to have adequate justification for initiating investigation and taking action,” said the guidelines.

Uniform procedure

The framework was conveyed to officials after the Central Board of Indirect Taxes and Customs (CBIC) discussed the need for CGST field formations to follow a uniform procedure in undertaking enforcement activities, involving “regular taxpayers, which incorporates aspects related to the ease of doing business”.

For all investigations, tax officials have been asked to ascertain if any inquiry has already been initiated on the same subject matter or with respect to the same taxpayer or GST Identification Number (GSTIN) by another investigating office or tax administration. “The position must be placed before the authority who is to approve initiation of investigation,” the guidelines said.

The directive will address industry concerns, said KPMG’s national head for indirect tax Abhishek Jain, while stressing that implementation will be key. “If followed, it could contribute towards tax certainty and stability in our country’s business landscape,” he said.



Source link

Business Tags:Big industrial houses, GST investigations, Major MNCs

Post navigation

Previous Post: Russia Demands Ukraine Hand Over Head Of Security Service, Others
Next Post: Patiala Girl Dies After Eating Cake

Related Posts

  • Gold, silver imports by banks, nominated agencies to attract 3% IGST
    Gold, silver imports by banks, nominated agencies to attract 3% IGST Business
  • Sensex, Nifty tumble nearly 1%; extend falling streak to fifth day
    Sensex, Nifty tumble nearly 1%; extend falling streak to fifth day Business
  • Access Denied Business
  • Rupee settles on flat note at 83.51 against U.S. dollar
    Rupee settles on flat note at 83.51 against U.S. dollar Business
  • PM’s entire focus not on reducing inflation but on data manipulation, propaganda: Congress
    PM’s entire focus not on reducing inflation but on data manipulation, propaganda: Congress Business
  • Markets drop in early trade on foreign capital outflows
    Markets drop in early trade on foreign capital outflows Business

More Related Articles

‘If you miss India, you’ll miss a large chunk of 21st century’: Manuel Muñiz ‘If you miss India, you’ll miss a large chunk of 21st century’: Manuel Muñiz Business
Do not foresee any shortage of energy globally, essential to negotiate properly: Petroleum Minister Hardeep Puri Do not foresee any shortage of energy globally, essential to negotiate properly: Petroleum Minister Hardeep Puri Business
Sensex tanks 730 points amid surging crude oil prices, geopolitical uncertainties Sensex tanks 730 points amid surging crude oil prices, geopolitical uncertainties Business
SRMIST signs MoU with South Korea’s Jeonbuk National University SRMIST signs MoU with South Korea’s Jeonbuk National University Business
Access Denied Business
LIC gets 3 more years to meet SEBI’s 10% public holding norm LIC gets 3 more years to meet SEBI’s 10% public holding norm Business
SiteLock

Archives

  • October 2026
  • September 2026
  • August 2026
  • July 2026
  • June 2026
  • May 2026
  • April 2026
  • March 2026
  • February 2026
  • January 2026
  • December 2025
  • November 2025
  • October 2025
  • September 2025
  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Business
  • Nation
  • Science
  • Sports
  • World

Recent Posts

  • Saudi Supreme Court sets aside Sri Lankan migrant worker’s death penalty
  • Nedumbassery accident: CPI(M) stages protest march to police station over ‘indifference’ in handling of case
  • Why CJI Surya Kant said ‘no’ to Rahul Gandhi’s request to meet | Explained
  • September WPI Inflation rises to 11.39% as food, fuel and manufactured goods prices increase
  • Frankfurt-Delhi Air India flight diverted to Jaipur following bomb threat

Recent Comments

  1. RobertTes on UP Teacher Who Asked Students To Slap Muslim Classmate
  2. Manuelret on UP Teacher Who Asked Students To Slap Muslim Classmate
  3. RobertTes on UP Teacher Who Asked Students To Slap Muslim Classmate
  4. RobertTes on UP Teacher Who Asked Students To Slap Muslim Classmate
  5. BrentWes on UP Teacher Who Asked Students To Slap Muslim Classmate
  • Is the U.S. shooting itself in the foot by pushing out STEM talent?
    Is the U.S. shooting itself in the foot by pushing out STEM talent? World
  • Why is volcanic ash a safety concern for flights? | Explained
    Why is volcanic ash a safety concern for flights? | Explained Business
  • Amol Muzumdar appointed as head coach of the Indian women’s team
    Amol Muzumdar appointed as head coach of the Indian women’s team Sports
  • Bangladesh election results LIVE: ‘Serious questions’ about integrity of results, says Jamaat-e-Islami
    Bangladesh election results LIVE: ‘Serious questions’ about integrity of results, says Jamaat-e-Islami World
  • UK’s Princess Anne In Hospital With ‘Minor Injuries And Concussion’: Palace
    UK’s Princess Anne In Hospital With ‘Minor Injuries And Concussion’: Palace World
  • “Over 3,000 People Lost Their Lives”: Rashid Khan, Mujeeb ur Rahman Dedicate Win To Earthquake-Ravaged Afghanistan
    “Over 3,000 People Lost Their Lives”: Rashid Khan, Mujeeb ur Rahman Dedicate Win To Earthquake-Ravaged Afghanistan Sports
  • Access Denied
    Access Denied Nation
  • Access Denied Sports

Editor-in-Chief:
Mohammad Ariff,
MSW, MAJMC, BSW, DTL, CTS, CNM, CCR, CAL, RSL, ASOC.
editor@artifex.news

Associate Editors:
1. Zenellis R. Tuba,
zenelis@artifex.news
2. Haris Daniyel
daniyel@artifex.news

Photograher:
Rohan Das
rohan@artifex.news

Associate Journalists
1. Subrata Paul - AN/2020/01
2. Quamruz Zaman - AN/2021/22
3. Ahmed Sha - AN/2021/035
4. Ajay Kumar Shaw - AN/2021/39
5. Tahqiqul Hoda - AN/2021/21

Artifex.News offers Online Paid Internships to college students from India and Abroad. Interns will get a PRESS CARD and other online offers.
Send your CV (Subjectline: Paid Internship) to internship@artifex.news

Links:
Associate Journalism
About Us
Privacy Policy

News Links:
Breaking News
World
Nation
Sports
Business
Entertainment
Lifestyle

Registered Office:
72/A, Elliot Road, Kolkata - 700016
Tel: 033-22277777, 033-22172217
Email: office@artifex.news

Editorial Office / News Desk:
No. 13, Mezzanine Floor, Esplanade Metro Rail Station,
12 J. L. Nehru Road, Kolkata - 700069.
(Entry from Gate No. 5)
Tel: 033-46011099, 033-46046046
Email: editor@artifex.news

Copyright © 2023 Artifex.News Newsportal designed by Artifex Infotech.