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Taxmen can directly initiate recovery for mismatch in sales in GSTR-1, 3B

Taxmen can directly initiate recovery for mismatch in sales in GSTR-1, 3B

Come January 1, GST officers can directly initiate recovery action against errant businesses that show higher sales in monthly return GSTR-1 but under-report it while tax payment in GSTR-3B.

The move will help curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchaser to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.

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