GST - Practical Insights Into Audit, Investigation & Litigation

Episode Duration:
85 minutes

Episode Background:
The Goods & Services Tax, touted to be “Good & Simple Tax”, has completed 4 years recently! While it is expected that the law of such magnitude would continue to evolve and would take a few more years to finally settle in, it wouldn’t be too long before the businesses start receiving notices from the GST Dept. for review of the compliances and tax positions adopted during the initial 2-3 years’ period. In fact, this exercise has already been initiated in certain cases, where voluminous data and documents have been called for, to kick-start the first Departmental audit under the new regime.

Moreover, in light of the rising instances of high-stake GST frauds/evasions being unearthed, the GST Department has ramped up its vigilance and has been resorting to inspections, search and seizures to plug revenue leakages. In this context, questions arise as to how one should handle such proceedings, and what are the rights and duties that one should keep in mind especially in the context of multi-locational set-ups.

What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to a special episode on “GST - Practical Insights into Audit, Investigation & Litigation". In this course, Mr. Saket Patawari (Executive Director, Indirect Tax, Nexdigm (SKP)) has given an overview of GST Audit, Inspection, Search & Seizure proceedings under the GST law, along with some practical insights. The key aspects which are discussed during the episode include the following:
 

Key Highlights
 

1. Department GST Audit

• Overview of Audit under Section 65
• Parameters for selection for audit
• Timelines
• Data requirements
• Special areas of verification
• Rights and duties of taxpayer
• Who can represent during audit proceedings

2. Investigations

• Inspection: meaning, who can conduct, timelines
• Search and seizure: who can conduct, when can be conducted, what can be searched, detention / disposal of goods
• Rights and duties of taxpayer

3. Litigation

• Audit / investigation conclusion
• Penalties for non-compliances