A fine of up to Rs. 50,000 For Non-Display of GST Number: CBIC
Failure to comply with this guideline may result in fines of up to Rs 50,000. The CBIC is actively promoting GST number verification among businesses through a campaign running until September 15.
- #GST number non-display fine
- # CBIC regulations
- # fine for not displaying GST number
- # non-compliance penalty
- #article
- # news
- # notifications
- # finance
- # legal
- # tax updates
- # myitronline
- # itr
- # filing now with myitronline
- # free itr filing
- # tax save itr filing
- # maximum tax save
- # best itr services
- # best itr filing
A fine of up to Rs. 50,000 For Non-Display of GST Number: CBIC
As per the directive from the Central Board of Indirect Taxes and Customs (CBIC), entrepreneurs registered on the GST network portal in Bathinda, Punjab, are required to prominently display their GST number at their business premises.
Failure to comply with this guideline may result in fines of up to Rs 50,000. The CBIC is actively promoting GST number verification among businesses through a campaign running until September 15.
The initiative aims to enhance GST revenue collection by confirming the registration status of every business owner with GST. The GST department has segmented the district, encompassing approximately 14,000 businesses, into 9 wards.
Business proprietors are required to display their GST number on the wall or main signboard of their establishments as part of this verification process.
As per Assistance Excise and Taxation Commissioner (AETC) Kapil Jindal, businesses failing to display their GST number can face a combined fine of Rs 50,000, divided equally between the state and federal governments.
He noted that many business owners overlook this guideline, and some even deceive customers by not applying GST.
In the case of restaurants or dhabas with an annual revenue of less than 50 lakhs, they fall under the composite scheme and are not authorized to collect GST. However, these small eateries and dhabas still charge customers a 5% GST.
The tax agency is adopting a strict approach to this issue and intends to penalize those who do not comply. Officials are initiating this effort by reaching out to business owners who have claimed more input tax credits than their actual sales. Displaying the GST number aids officers in verifying whether the correct taxes have been paid.
FILING YOUR INCOME TAX RETURN F.Y 2022-23 (A.Y. 2023-2024) WITH MYITRONLINE
Income tax filing deadline is right around the corner. If you haven’t filed yet, do it now for FREE on Myitronline! Avoid last minute rush and file your tax return today on MYITRONLINE in Just 5 mins.(www.myitronline.com)
If you are looking for eCA assistance to file your income tax return/ GST, you can opt for MYITRONLINE eCA assisted plan starting
Upload Salary Individual Form-16
If you have any questions with filing your tax return, please reply to this mail. info@myitronline.com OR call 9971055886.
Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Krishna Gopal Varshney
An editor at MyitronlinenewsKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
Leave a reply
Your email address will not be published. Required fields are marked *Share this article
News Offers
Related Post
