GST evasion: Centre, state tax officers to share taxpayers information to tighten enforcement

By: |
February 06, 2020 8:24 PM

Currently, state tax officials administer and control 90 per cent of the assessees below Rs 1.5 crore annual turnover.

gst, gst turnoverFor those assessees with an annual turnover of over Rs 1.5 crore, the Centre and states share control in 50:50 ratio.

Central and state tax officers will share information about taxpayers for enforcement action as the government looks to tighten enforcement measures to check GST evasion.

“CBIC launches application for sharing information between Centre and State for targeted enforcement action against GST evasion. A big leap in intelligence sharing and cooperative federalism #GST,” the Central Board of Indirect Taxes and Customs (CBIC) said in a tweet.

Currently, state tax officials administer and control 90 per cent of the assessees below Rs 1.5 crore annual turnover, and the remaining 10 per cent is with the central tax officers.

For those assessees with an annual turnover of over Rs 1.5 crore, the Centre and states share control in 50:50 ratio.

To plug leakage, the central and state government officials had last month decided to scrutinise goods and services tax (GST) refund claims more diligently, compulsorily investigate all fake claims and step up coordination between income-tax and GST authorities.

It was also decided that GST Network, CBIC and Central Board of Direct Taxes (CBDT) will share data on a quarterly basis for early identification and checking of fraud cases.

Following delay in payment of GST compensation to states by the Centre due to lower-than-expected revenue collection the authorities have decided to step up enforcement actions and data exchange.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Cases should be taken to logical conclusion expeditiously: FM Nirmala Sitharaman to DRI
2India exemplary in publishing its foreign exchange market intervention: US Treasury
3Supplementary demand: House nod sought for Rs 3.74L-cr extra spend