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breaking news The Gst department will review MCA data to identify entities that do not pay taxes

Currently, there are 1.38 crore businesses and professionals registered under the Goods and Services Tax (GST), which was launched on July 1, 2017.

The GST department will soon begin to analyze ITRs filed by businesses and professionals as well as MCA filings to determine whether entities are properly meeting their GST obligation and broadening the taxpayer base.

Currently, there are 1.38 crore businesses and professionals registered under the Goods and Services Tax (GST), which was launched on July 1, 2017. Businesses in the manufacturing and service sectors with a annual turnover above Rs 40 lakh and Rs 20 lakh, respectively are required to register under GST and file tax returns.

“We will triangulate the data based on the information available from the IT department. If, according to the analysis, the entities that should pay GST taxes do not, we will first send a survey smoothly,” an official said. said PTI.

Data analysis will focus on entities that are not exempt and are required to register under the GST and file monthly or quarterly returns. After identifying the entities that do not comply with the GST law, the GST department will communicate to them at their head office asking them the reasons for the non-compliance.

The official further said that the data analysis wing will also sift through quarterly and annual data filed by companies with the Ministry of Corporate Affairs to find out if any GST fraud is taking place.

Matching IT and GST data would be the first phase, followed by matching MCA repositories, the official said. “We will soon start matching income tax data,” the official said.

Several service sectors, including recognized educational institutions, farmers, electricity transmission or distribution companies, and medical services at clinics are exempt from the GST.

The total number of Goods and Services Tax (GST) evasion cases increased this fiscal year with 13,492 cases detected through February, compared to 12,574 cases last fiscal year and 12,596 cases in 2020 -21, according to data disclosed by the Ministry of Finance to Parliament.

The total evasion detected between July 2017 and February 2023 amounted to nearly Rs 3.08 lakh crore, of which more than Rs 1.03 lakh crore was made. GST authorities have arrested 1,402 people for tax evasion over the past five and a half years.

The tax department used robust data analytics and artificial intelligence to identify and track at-risk taxpayers and detect tax evasion; data sharing with partner law enforcement agencies for more targeted interventions; and mandatory Aadhaar-based authentication for new GST registrations as well as centralized suspension of registrations of registrants who fail to complete declarations in a timely manner.

With the anti-evasion measures and improved compliance, monthly GST revenue has topped Rs 1.4 lakh crore for 12 consecutive months. GST revenue exceeded Rs 1.49 lakh crore in February.

A nationwide GST, which included 17 local levies like excise, service tax and VAT and 13 taxes, was rolled out on July 1, 2017.

AMRG & Associates Senior Partner Rajat Mohan said connecting GST numbers to returns under the Income Tax Act and Corporations Acts will increase the data points available for the big data analysis. This will help identify underpayment of taxes more quickly.

“Government agencies are racing towards the convergence of different data sources to improve compliance levels across platforms,” ​​Mohan said.


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