![]() For more information about our organization, please visit ey.com. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.ĮY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. ![]() Businesses may have to be ready with all the documents/ records to substantiate such discrepancies.ĮY | Assurance | Consulting | Strategy and Transactions | TaxĮY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. Since the GST regime was at a nascent stage during FY 2017-19, there could be genuine cases of mismatch in information as specified in the indicative list of parameters.ī. This covers output tax liability, input tax credit, interest and late fee.Ī. ![]() SOP includes detailed guidelines on selection of returns, scrutiny process, schedule, timelines, reporting, monitoring and proper officer empowered to undertake such scrutiny.įurther, an indicative list of parameters to be verified is also enclosed for convenience of the proper officer. Till the time a Scrutiny Module for online scrutiny of returns is made available, as an interim measure, CBIC has issued SOP to ensure uniformity in identification of returns for scrutiny, methodology of scrutiny of such returns and other related procedures. Section 61 of the Central Goods and Services Tax Act, 2017 (CGST Act) read with rule 99 of Central Goods and Services Tax Rules, 2017 (CGST Rules) provides for scrutiny of returns and related particulars furnished by the registered person. This Tax Alert summarizes a recent Instruction issued by Central Board of Indirect Taxes and Customs (CBIC) prescribing Standard Operating Procedure (SOP) for scrutiny of returns for financial year 2017-19.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |