New Delhi, Mar 19 (KNN) Owing to difference in the summary sales return under GST and final returns, revenue department has started to analyze empty spaces in order to check on tax evasions.
Only 16% of GST filed returns matched with the final returns and 84% of the data do not matches with the final data has raised the alarm of revenue department.
As per the GST returns data, between July-Dec 34% of businesses paid Rs 34,400 crore less tax while filing the initial summary return (GSTR-3B).
It has been claimed that these 34% of business have paid Rs 8.16 lakh crore to the exchequer by filing GSTR-3B, whereas GSTR-1 data reflects that their tax liability should have been Rs 8.50 lakh crore. This mismatch between the GSTR-3B and GSTR-1 has forced the authorities to check the gaps.
As per the analysis by the revenue department, initial returns filed and taxes paid by 16.36 per cent of the businesses have matched with their final returns and tax liability and they have paid a total tax of Rs 22,014 crore.
However, the data also showed that there was excess tax payment of Rs 91,072 crore by 49.36 per cent of businesses registered under GST between July-December.
As per the GSTR-1 data, tax payer’s liability should have been Rs 5.59 lakh crore while they have paid Rs 6.50 lakh crore as GST.
The revenue department has analyzed that the GST returns data filed by over 51.96 lakh businesses during July-December, 2017.
EY Partner Abhishek Jain said that one of the factors that contributed to the difference in GSTR-1 and GSTR-3B could be non-consideration of credit/debit notes in the GSTR-1 data which have been considered for GSTR-3B numbers.