Maharashtra, Telangana Issue Guidelines On Return Scrutiny And Refunds Under GST: EY Analysis

The Legal Library section collates quality and in-depth reports on regulatory developments, court rulings and policy changes authored by India’s top law firms and consultants. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of law and policy..EY Update.This tax alert summarises recent guidelines issued by the Maharashtra and Telangana State Governments on scrutiny of return and refund related issues under Goods and Services Tax. The Maharashtra Government has issued guidelines for scrutiny of GST returns for financial year 2017-18 and 2018-191. It addresses several issues such as incorrect reporting of transactions or typographical errors in GSTR-1, mismatch of input tax credit between GSTR-3B and GSTR-2A in specific scenarios, reversal of ineligible ITC in return of subsequent period etc. Further, the commercial taxes department of Telangana has issued a circular providing instructions to proper officers on several refund related issues. The officers are instructed to verify refund claims thoroughly and pass the order within the prescribed time limits to curtail erroneous refunds and interest on delay in refunds. They have also been instructed to process and sanction refund claims keeping in view the provisions of GST law and ensure that the necessary documents are obtained and verified while processing refund claims. The guidelines relating to scrutiny of returns provides clarity on several issues for the financial years 2017-18 and 2018-19. This is likely to benefit taxpayers in maintaining proper documentation and help in reducing litigation.It is expected that the tax officers may follow these clarifications even for the subsequent financial years..Click on the attachment to read the full report:.DISCLAIMERThis alert does not constitute legal advice and is for information purpose only. This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Maharashtra, Telangana Issue Guidelines On Return Scrutiny And Refunds Under GST: EY Analysis

Maharashtra, Telangana Issue Guidelines On Return Scrutiny And Refunds Under GST: EY Analysis

Choose a plan