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Recommendations on Data Analytics made during 26th GST Council meeting

Recommendations regarding Data Analytics made during 26th Meeting of Goods & Services Tax (GST) Council held today in the national capital

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.

Other Updates from 26th GST Council Meetings-

Major Highlights of 26th GST Council Meeting

E-way Bill: Recommendations made during 26th GST Council meeting

26th GST Council Meeting: Update on Return Filing System, RCM, TDS/TCS & Grievance Redressal Mechanism

GST: Extension of Tax Exemptions for Exporters for six months

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