tax collection in the investigation

Govt suspects – GST of Rs 34,000 crore hidden by traders, tax collection in the investigation

New Delhi: Due to the primary analysis of file returns in the GST network between July and December, there is a growing suspicion that traders have hidden tax liability of Rs 34,000 crore.This issue was raised in the GST Council Meeting held on Saturday. Now, the notice can be sent to those traders who have said different liabilities in GST Returns-1 and GSTR-3B. GSTR-1 is being used primarily for the purpose of information.

E-way bill, GST council seal from 1st April

A source told the Times of India that special emphasis has to be given to those people who have made a big difference in both return filings. In many cases, after analyzing the detailed information of individual taxpayers, the result will be shared with the states so that the ‘suspect’ people can be prosecuted.

But, this is not the only reason for doubt. After analyzing the statistics of the customs department, the price of imported products has been very low. An official has given an example that the price of mobile phones of Rs 10,000 will be 7,000 rupees. Officials suspect that this was done with the intention of paying less GST on every step.

The existing system of GST return increased 3 months

Actually, GST collections have been consistently lower than estimates because the government has failed to implement various aspects of tax evasion. These include initiatives such as e-way bills to track the cost of purchase and sales and monitoring of the entire activity of factories from the factories to the showroom. Officials say that many businessmen felt that the government would not match GSTR-1 and GSTR-3B. Because of this, the traders also filled different figures in both of them. However, tax consultants say that there can be a good reason for the difference between the two because the input tax credit deposited for several months at the time of tax payment is used with the existing credit credits.

 

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