Press Release
The GST Council, in its 26th meeting held on 10 March 2018, was informed about the initiation of detailed data analytics exercises by the Central Board of Excise and Customs (CBEC) and the GST Network (GSTN) to strengthen compliance monitoring under the GST regime. The Council was apprised that multiple data sets available with tax authorities were being analysed to identify inconsistencies and potential risk areas. Preliminary analysis revealed significant variances between the amount of Integrated GST (IGST) and Compensation Cess paid by importers at Customs ports and the corresponding input tax credit claimed by them in FORM GSTR-3B. In addition, major discrepancies were observed between the self-declared tax liabilities reported by taxpayers in FORM GSTR-1 and FORM GSTR-3B. The Council deliberated on these findings and noted the need for deeper analysis of the data to understand the underlying causes of such mismatches. It was agreed that based on further examination, appropriate action could be initiated to address compliance gaps, curb revenue leakage, and improve the accuracy of return filing. This discussion highlighted the growing role of data analytics in GST administration as a tool for risk assessment, informed enforcement, and strengthening the overall integrity of the GST system.
Other Press Releases
GST Day 2020 Highlights Commitment to Simpler Tax Administration and Ease of Doing Business
GST Day 2020, marking the third anniversary of the introduction of the Goods and...
Read MoreGST Council Announces Major GST Rate Rationalisation and Relief Measures for Services
The GST Council, in its 22nd meeting held on 6 October 2017 under the chairmansh...
Read MoreGST Council Approves Significant GST Rate Reductions and IGST Exemptions on Goods
The GST Council, in its 22nd meeting held on 6 October 2017 under the chairmansh...
Read More