GST will be levied across the country from 01 July 2017. has been applied. Since then various measures have been taken to curb evasion. The evasion has been reduced is a matter of debate,but most such tax evasion measures have certainly caused tax payers difficulty.
Now taking a new step to curb tax evasion,GSTR 3B figures will now be displayed automatically in Form no. 26AS of income tax. Thus the biggest hurdle when the details of 3B displayed in 26AS in that the taxpayers has to pay GST. The circular issued under will fall from 26/2017.According to the circular. The taxpayer can make his own “adjustment” in 3B after that year or in GSTR 3B till September of the following year. Now when the figure in Form no. 26AS of Income Tax comes up,the question arises as to how it will be bifurcated as per this circular. professionals believes that if turnover is matched as per GSTR 9 instead of GSTR 3B, it can be considered more practical. Another important question that may arise is whether GST will be levied in different sates.For numbered taxpayers , sales made from one sate to another in their own branch are subject to GST. Turnover may considered as under but this amount cannot be considered as turnover under income tax .Thus turnover may change in this regard as well.
According to the my personal opinion , if there is any change in the GST turnover under the Income Tax Act the notice of 143 (1A) may come to the taxpayer .Knowing the difference in this turnover , it is reasonable to fear that any serious action will be paid by income tax .The taxpayer will be given an opportunity to explain this difference and the taxpayer who cannot explain this difference will have a serious impact on this change.
GST turnover in 26AS from 12 November 2020 is shown in part H.talking about this i said that due to circular 26/2017 there may be a difference in the turnover of an estimated 50% of taxpayers. GST since the implementation of GST professionals. Seeking to facilitate return. Now if this facility is given then income tax and GST will be deducted.It is certain that serious questions will arise regarding turnover . An irrational arrangement like Circular 26/2017 has been arranged due to the inertia of not providing facility for revised return.there are fears that the move to curb tax evasion could bring disaster to taxpayers and tax professionals.
From Tax Help-