The Finance Ministry notified the statement on not allocated any instructions to administrators to inquire taxpayers to pay maximum GST liability in cash. In this article, we will discuss the Finance Ministry makes an important announcement.
Finance Ministry makes an important announcement
According to a latest growth, the Finance Ministry on Saturday declared it has not issued any instructions to administrators to ask taxpayers to pay maximum GST liability in cash.
There were summaries that some GST officers are utilizing unauthorised information means such as phone calls, WhatsApp and messages asking taxpayers to discharge ‘maximum tax liability’ in ‘cash’, as per an article by information agency IANS.
It is to interpret that neither the Government nor the Central Board of Indirect Taxes and Customs (CBIC) have issued any such instructions to their field formations, a Finance Ministry statement explained.
Further Notification by Finance Ministry
Also, the Finance Ministry on Saturday explained GST taxpayers can use the Input Tax Credit accessible in their credit ledger to release their GST dues for the month of March, as per a report by PTI.
Taxpayers are unrestricted to utilise the Input Tax Credit available in their credit ledger. As acceptable in law, to release their GST dues for the month of March, 2021 the previous month of this monetary year, the Central Board of Indirect Taxes and Customs (CBIC) stated in a statement.
Further, the Goods and Services Tax GST Collection stretched the Rs 1 lakh crore mark for the fifth month in a line in February. The last up in February was Rs 1.13 lakh crore.
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