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Beware taxpayers! The Ministry of Finance makes an important announcement about the GST collections

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In a relief to taxpayers, the Ministry of Finance on Saturday (March 20th) said it has not issued any instructions to officials to require taxpayers to pay the maximum GST obligation in cash.

Recently, there have been reports that some GST officers are using unauthorized means of communication such as phone calls, WhatsApp and messages urging taxpayers to discharge ‘maximum tax liability’ in ‘cash’.

According to reports, this was being done in order to ensure that the revenue collection objectives of the GST for the financial year were met.

It is to clarify that neither the Government nor the Central Board of Indirect Taxes and Customs (CBIC) have issued any such instruction for their field formations, said a statement from the Ministry of Finance.

Finance also said GST taxpayers can use the Input Tax Credit available in their credit book to discharge their GST liabilities for March.

“Taxpayers are free to use the Input Tax Credit available in their credit book, as permitted by law, to discharge their GST liabilities for March 2021 – the last month of this financial year”, Central Board of Indirect Taxation and Customs (CBIC) said in a statement.

Goods and Services Tax (GST) collections exceeded $ 1 million in February, for the fifth month in a row. The total collections in February are 1.13 billion ALL.

(With data from IANS)

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