CBIC launches GST Verification Campaign to Charge Rs.50000 for Non-Display of GST Numbers on Shops:

CBIC launches GST Verification Campaign to Charge Rs.50000 for Non-Display of GST Numbers on Shops Businesses registered on the GST network site in Punjab's Bathinda must show their GST number at their premises or will face a penalty of up to Rs.50,000, according to the Central Board of Indirect Taxes and Customs. The CBIC is undertaking a GST verification campaign through September 15 and has instructed all company owners to carefully follow the GST number display guideline. The initiative intends to double-check the registration of all GST-registered company owners and enhance GST collection. The GST department has split the district into 9 wards, comprising around 14,000 businesses. Businesses must display their GST number on the main board or the wall of their establishments. According to AETC Kapil Jindal, there is a provision for a Rs 50,000 punishment (Rs 25,000 imposed by the state government and Rs 25,000 charged by the Centre) on dealers who do not show their GST number. He claimed that many company owners do not observe this guideline and that some even collect GST from clients fraudulently. Owners of restaurants or dhabas with an annual sales of less than 50 lakhs are subject to the composite system and do not have the right to collect GST. However, such tiny eateries and dhabas also charge 5% GST to their clients. The taxes agency will enforce the law aggressively and take action against anyone who do not comply. Officials are beginning the effort by visiting businesses that have claimed input tax credits in excess of sales. The display of the GST number will assist officials in determining whether or not they have deposited the tax.