he revenue department has analysed the Goods and
Services Tax (GST) returns data filed by over 5.196
million businesses during July-December, 2017. The
indirect tax reform GST was rolled out from 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 March 10
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 per cent 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 Rs
935.90 billion in July, Rs 930.29 billion in August, Rs
951.32 billion in September and Rs 859.31 billion in
October.
Source::: Business
Standard,
dated 19/03/2018.