TheTelanganagovernment has been losing about 600 crore a year as someGSTpayers have failed to update customer addresses. In the past few years since the bifurcation of the state, lost about 1,500-1,600 crore.
According to officials, details of as many as 7,000 firms and tax payers need to be updated in the records. Of them, about 1,500 are big firms.
According to officials, details of as many as 7,000 firms and tax payers need to be updated in the records. Of them, about 1,500 are big firms.
As the tax componentIGST(Integrated Goods and Services Tax) goes to the Centre and it later releases share to the respective states from time to time, wrong addresses result in the share going to the wrong state (AP).