Tax authorities step up heat on erring businesses with GST audit

NEW DELHI  : Goods and Services Tax (GST) authorities have started audit of businesses for FY18, the year of the indirect tax reform, indicating that erring assessees will now be held accountable for lapses in tax payment and record keeping. GST audits are being initiated as part of the government’s drive to improve compliance and step up revenue collections amid an economic slowdown. Central…