Mumbai, December 27: GST (Goods and Services Tax) authorities will now have the right to attach properties of those who default on the dues despite repeated reminders. The new rules are government's attempt to ensure better compliance of GST returns. The majority of the registered GST entities out of the 1 crore payers fail to file the GST returns, reported The Times of India.   GST Rates of 0% and 28% Should be Scrapped by Narendra Modi Govt, Says EAC Chairman Bibek Debroy.

The Central Board of Indirect Taxes and Customs has dug deep into the law and drew upon the detailed standard operating procedure, giving authorities the power to attack property and bank accounts of those not filing returns. GST Rates Revised: Hotel Stays Become Cheaper, Caffeinated Drinks Get Costlier; Here's The Complete List of New Tax Rates Announced by Nirmala Sitharaman After GST Council Meet in Goa.

The deadline for filing GSTR-3A or the final returns is on 20th of every month and the authorities have told the senior officials to begin the process of reminders three days prior to the deadline.

After the due date, a message is sent to all the defaulters to file the returns. After five days of due date have passed, a notice is to be served to the concerned proprietor of business and Karta in case of the Joint Hindu Family (JHF).

If the entities fail to pay the amount even after 30 days of being served the notice, the GST authorities can attach properties to recover dues. VAT and service tax had the provision of attaching the properties and bank accounts as well, but they were invoked only in rare and extreme cases, reported The Times of India.

(The above story first appeared on LatestLY on Dec 27, 2019 05:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).