Over 40,000 GST returns for 2018-19 under scrutiny

To curb fraudulent availment of input tax credit (ITC) and tax evasion, the Central Board of Indirect Taxes (CBIC) will soon identify about 40,000 goods and services tax (GST) returns for 2018-19, based on the risk parameters, for scrutiny. This would be the second such batch of GST returns to be subjected to scrutiny after the CBIC identified 35,000 GSTINs (assigned to business entities) for 2017…