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New GST rules on anvil; biz may have to explain discrepancy in ITC claims

by AIP Online Bureau | Jul 9, 2023 | Eco/Invest/Demography, Indian News, Regulation

In cases where the difference in tax liability declared in GSTR-1 and GSTR-3B exceeds the specified threshold of Rs 25 lakh and 20 per cent, the businesses are required to explain the reason for discrepancy or deposit the taxes. New Delhi: The GST Council is likely to...

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