50K show-cause notices sent to companies, partnership firms after GST audit

It's first comprehensive audit exercise by GST authorities

The goods and services tax (GST) authorities have issued around 50,000 show-cause notices (SCN) to several companies and partnership firms across sectors, including real estate and jewellery, following the findings of an audit exercise they started earlier this financial year.

This is the first comprehensive audit exercise since the inception of the GST regime. It has covered annual GST returns filed by firms in the first two years of the tax regime —2017-18 and 2018-19; in some cases, the audit has even covered 2019-20 and 2020-21. Annual GST returns for 2020-21 were filed in December 2021.

Audit of companies by the GST