Finance Ministry should identify high-risk taxpayers in GST composition scheme: CAG

New Delhi, August 19 The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including third parties, their declared value...

PTI

Updated At : 07:39 AM Aug 20, 2024 IST

New Delhi, August 19

The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including third parties, their declared value of sales to check tax evasion.

Based on an analysis of 8.66 lakh composition taxpayers under the central jurisdiction between 2019-20 to 2021-22 fiscals, the CAG found that a significant number of GST taxpayers have a high risk of crossing the turnover threshold for composition levy scheme CLS. The GST composition scheme is available to taxpayers whose aggregate turnover has not exceeded Rs 1.5 crore. — PTI

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