New Delhi. If you get a discover from the Income Tax Department, chances are you’ll get upset. If this discover is just for 2 rupees then you’ll be confused whether or not this discover is de facto from the Income Tax Department or somebody has joked. But the Income Tax Department has despatched notices of Rs 2 to some merchants in the previous couple of days. The Income Tax Department can also be sending notices as much as Rs 2 for delay in submitting GST returns and repaying curiosity. For info, tell us that the Central Board of Indirect Taxes and Customs or CBDT is sending a discover to get better the arrears of Rs 46000 crore as GST curiosity. Many of those notices are for 10 rupees and a few even much less. <! –
5 rupees discover additionally
According to a report revealed in Punjab Kesari, a buyer of Equity Information has been despatched a discover to pay curiosity quantity of solely Rs 5. Similarly, an individual has obtained a discover of Rs 2. Let us know that the federal government has elevated the tax goal for the monetary yr 2019-20, because of which there’s strain on the tax authorities to satisfy the goal and the Income Tax Department is strictly working. By the best way, the statistics present that between April-January, the central GST assortment has elevated by 10.4%. But in view of the goal set for 2019-20, the remaining two months i.e. February-March, the tax assortment should be elevated by 21%.
100 per day charge
For your info, tell us that on submitting a GST until a sure date, a cost of Rs 100 is charged daily. It additionally attracts 18 per cent curiosity. The Income Tax Department has mentioned that taxpayers pays part of their arrears in money, whereas the remaining quantity might be added to the enter tax credit score. As far as sending discover for such a small quantity is worried, the businessmen don’t contemplate it proper.
– Nirmala Sitharaman: Only Indian revenue should pay tax to NRIs