The Centre has been contesting the states’ view that tax
revenues from these industries have declined vis-ŕ-vis
the previous excise-VAT regime even though it also felt
tax evasion was an issue with this industry under both
regimes.
In the old excise regime, such products were taxed based
on the maximum machinery capacity installed, rather than
the actual production and sales. Under the GST regime,
the actual transaction (sales) value is the tax base.
After GST was rolled out in 2017, some states demanded
reverting to capacity-based taxation for the
tax-evasion-prone sector.
Under the excise regime, there were also plenty of
problems as the tax officers had to survey regularly how
many machines were being used, and there would often be
disputes with the industry players on the number of
machines being used at a point in time tax officers
found that manufacturers were increasing the speed of
machines because of technology to under-report output
and evade taxes. While bigger players gained in the
process, smaller players got out of business as they
could not invest in new technology and machines.
Since GST works on a value chain basis, capacity-based
taxation will also make it difficult to administer input
tax credit (ITC) as wholesalers and retailers don’t
operate in a capacity-based mechanism.
“The only way to stop tax evasion is to try and get data from more than one
source such as return filing data of suppliers or taxpayers. These data can
be corroborated or validated with some other parameters such as purchase of
raw material, e-way bills and input services,” an official said.
Unlike in the past, there is the availability of plenty of data in the
ecosystem, including income tax, customs and electricity bills which can be
used to gauge tax evasion risk.
“I think that it (data analysis and matching from various sources) is a
better way to do revenue augmentation by plugging leakages from these items
than switching to capacity-based taxation,” another official said.
Source:::
Financial Express,
dated 12/10/2022.