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GST DATA IN FORM 26AS NOT TO RESULT IN ADDITIONAL COMPLIANCE’

Updated on:16th Nov, 2020
Revenue dept issues clarification after concerns were raised on ‘conciliation’ The Revenue Department (DoR) under the Union Finance Ministry on Monday said that GST turnover display in Form 26AS will not result in extra compliance for assessees. The Central Board of Direct Taxes (CBDT) in September issued an order that led to the display of information on GST returns on income tax statement form called Form 26AS. The form is an annual consolidated income tax credit statement. It helps the taxpayer to ascertain the tax deducted and the advance tax paid during the year and match it with the tax deposited as per the tax department’s records. Various users have claimed on social media that the taxpayer will be required to reconcile the GST turnover uploaded in Form 26AS with the turnover shown by him in the income tax return and this would increase the compliance burden of the taxpayers. “Such concerns expressed in social media are not based on facts, and hence, these are misleading and skewed,” the DoR said.
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