Recommendations regarding Data Analytics made during the 26th meeting of the GST Council

Recommendations regarding Data Analytics made during the 26th Meeting of Goods & Services Tax (GST) Council held today in the national capital under the Chairmanship of the Union Finance Minister, Shri Arun Jaitley  

In the 26th meeting held here today , the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with them. The outcome of preliminary data analysis has revealed interesting insights:

  • It has emerged that there is variance between the amount of IGST & Compensation Cess paid by importers at Customs ports and input tax credit of the same claimed in GSTR-3B.
  • There are major data gaps between self-declared liability in FORM GSTR-1 and FORM GSTR-3B.

It was deliberated that this information may be further analysed and adequate action may be initiated accordingly.

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Tags : goods and services tax (4548) GST (4142) GST Council (85)

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