Entities Must Submit Accurate Tax Info Returns Under Section 150 of MP GST Act, 2017; Corrections Allowed Within 30 Days.
Section 150 of the Madhya Pradesh Goods and Services Tax Act, 2017 mandates specific entities, including taxable persons, government authorities, banks, and registrars, to submit information returns detailing tax payments and transactions. If the submitted information is deemed defective, the Commissioner may notify the responsible party, allowing 30 days for correction. Failure to rectify within this period results in the return being considered unfurnished. If a required information return is not submitted on time, the authority may issue a notice demanding submission within 90 days. This section ensures compliance and accurate record-keeping for tax-related activities.
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