Friday 28 April 2017

GST COMPLIANCE RATING

According to Section 149 of GST Act ,2017:-
Trade and industry will be assigned a ‘compliance rating’ based on their credibility with regard to timely deposit of taxes to the exchequer and filing of returns under the goods and services tax structure.

A system of GST Compliance Rating will be put in place so that every trader or businessman will be rated based on their track record.
Once the rating is made public on the GSTN portal, a businessman can decide on whether to deal with another trader or entity who does not deposit tax with the government and therefore, has a low compliance score.

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