Kerala govt to implement rating score for tax paying traders

The Kerala government is gearing up to implement an exclusive 'rating score' for state's traders who submit their annual returns accurately on time and remit income tax without fail.

Titled as "Tax Payer Card", the Kerala State Goods and Services Tax department is implementing the initiative for those traders who are registered under the GST Act. According to official sources, State Finance Minister K N Balagopal will launch the ambitious initiative via online on February 3.

The unique card would let people know whether the traders are filing their monthly and annual returns on time under GST Act and whether the details submitted by them are accurate. The rating score is expected to be beneficial to both the tax payers as well as the public, they said. As far as common people are concerned, the card would help them purchase articles from the shops with good rating and would also check the imposition of undue tax from them by some traders.



For tax payers, the initiative would be a boon to get speedy, effective and transparent tax payment services, they said adding the selection of shops having good rating for availing B2B services would help to get the input tax credit on time. Of the total 100 score, 50 points are given to the timely filing of returns (GSTR 1).

Thirty points are allotted for the accuracy in filing, 20 marks for the timely filing of the annual returns (GSTR 9), official sources added.

Source::: THE ECONOMIC TIMES,  dated 02/02/2022.