Companies are under trouble over mismatch in GST and IT return filing

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Around 5,000 companies are under observation of tax authorities due to discrepancies between their Goods and Services Tax (GST) filings and Income Tax (IT) returns. The Central Board of Direct Taxes (CBDT) has ordered search & survey operations against these companies. The information has been gathered from GST Network (GSTN) data. The said data has been shared with state ministry to take immediate actions against fraudster.

The mismatches have found in Mumbai, Delhi, Kolkata, Hyderabad and Bengaluru. Scrutiny notices are being sent by the Department. There are chances of creation of dummy entities too as the discrepancy were found in data such as gross total income, turnover ratio and sales returns provided by GSTN and other relevant sources.

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