Supreme Court to rule on GST notices spanning fiscal years
Business
The Supreme Court is about to settle a big question: can the tax department send goods and services tax (GST) show-cause notices that cover more than one fiscal year at a time?
This decision will clear up how the GST law handles tax issues that stretch across different years and whether each year should be treated separately when it comes to deadlines.
Courts divided over GST notices
Right now, there is confusion because some courts say every fiscal year should be handled on its own, while others think notices can cover several years if the reason stays the same.
The Supreme Court's ruling will finally bring clarity for businesses and tax officials on how these rules actually work.