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 Collections Remain Strong with 28 Percent Growth in August 2022
Gross Goods and Services Tax (GST) revenue collection for August 2022 stood at â...
Read MoreGST Revenue Hits All-Time High with Record Collections in April 2022
Gross Goods and Services Tax (GST) revenue collection for April 2022 reached an ...
Read MoreCentre Releases ₹17,000 Crore GST Compensation to Support States’ Finances
The Central Government released ₹17,000 crore as Goods and Services Tax (GST) ...
Read More