🚨 𝗜𝗻𝗱𝗶𝗮𝗻 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗕𝗲𝘄𝗮𝗿𝗲: 𝗚𝗦𝗧 𝗡𝗼𝘁𝗶𝗰𝗲𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗥𝗶𝘀𝗲! 💥🔎 Many Indian companies are facing a flood of GST notices, causing concerns.

The government is urging states to adopt risk-based assessments instead of blanket checks, aiming to target tax evaders more effectively and reduce hassle for compliant businesses.

Key points: -> Bunching of notices near deadlines is partly to blame, but some states are issuing more than others. -> Currently, states assess most GST returns, with the central government only checking 1%.

-> The Finance Ministry wants states to improve their risk assessment systems to focus on potential evaders. -> Recent extensions for issuing notices offer temporary relief (Jan 31, 2024 for FY19, May 31, 2024 for FY20).