New Delhi: With only 16% of the summary sales returns under the goods and services tax (GST) matching with the final returns, the revenue department has started to analyse major gaps with a view to check any possible tax evasion.
According to the GST returns data, 34% of businesses paid Rs34,400 crore less tax between July-December while filing initial summary return (GSTR-3B). These 34% of the businesses have paid Rs8.16 trillion to the exchequer by filing GSTR-3B, whereas analysis of their GSTR-1 data show that their tax liability should have been Rs8.50 trillion.
As per the analysis by the revenue department, initial returns filed and taxes paid by 16.36% of the businesses have matched with their final returns and tax liability. They paid a total tax of Rs22,014 crore. However, the data also showed that there was excess tax payment of Rs91,072 crore by 49.36% of businesses registered under GST between July-December. While they have paid Rs6.50 trillion as GST, the GSTR-1 filed by them shows that their liability should have been Rs5.59 trillion.
The revenue department has analysed the GST returns data filed by over 5.19 million businesses during July-December, 2017. The indirect tax reform GST was rolled out from 1 July 1, 2017.
EY partner Abhishek Jain said, “While the differences in the liabilities reported in GSTR- 1 vis-a-vis that in GSTR-3B would need to be analysed in detail by the government, one of the contributor to the difference could be non-consideration of credit/debit notes in the GSTR-1 data, which would have been considered for GSTR-3B numbers”.
The GST council, headed by finance minister Arun Jaitley and comprising state counterparts, had on 10 March decided to further analyse data gaps between self-declared liability in GSTR-1 and the taxes actually paid while filing GSTR-3B.
AMRG & Associates partner Rajat Mohan said, “84% of taxpayers reporting incorrect revenue statements, is a matter of concern. Triumph of GST depends on self-assessment mechanism for which we have to adopt completely bias-free, independent, automated, and digital tax regime, which would be impossible if such high number of taxpayers are committing errors in data entry”.
As per a finance ministry reply to the Lok Sabha, GST mop up was Rs93,590 crore in July, Rs93,029 crore in August, Rs95,132 crore in September and Rs85,931 crore in October. The collections in November stood at Rs83,716 crore, December (Rs88,929 crore) and January (Rs88,047 crore). (Source Mint)