Every penny counts as GST officers send demand notices to companies

Rs 5.9858630140000004! This is not a figure from an S Ramanujan-G H Hardy conversation but a demand notice given by tax officials to a company on paying interest because the goods and services tax (GST) return had overshot the deadline. After directions from the Central Board of Indirect Taxes and Customs (CBIC) to recover goods and services tax interest, totalling Rs 46,000 crore, field officials are busy sending notices for recoveries, which sometimes are in single digits. One such client in equity information services has been asked to deposit Rs 5 (after rounding off the liabil.....

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