New Delhi, Jan 17 | With less than three months to go before the current financial year ends, enforcement actions have multiplied and pressure mounted on revenue officers to augment GST collections in the remaining period of the fiscal.
Directing field officers to go after fraudsters and non-filers using data analytics, the Revenue Department has fixed the GST target for January and February at Rs 1.15 lakh crore each while the March collection is to be Rs 1.25 lakh crore.
Official sources said that around 40,000 companies have been red-flagged for availing excess or fraudulent ITC (input tax credits) and other tax related wrongful issues through data analytics.
“Field formations have been directed to conclude ITC recuperation without any overreach but in a stipulated time frame,” an official said.
There are 1.2 crore GST registrants across the country.
Sources said that GST authorities would look into the mismatch of supply and purchase invoices, mismatch in GSTR-1, GSTR-2A and GSTR-3B, failure to file returns and over-invoicing among others to put heat on the tax dodgers.
While GST authorities would send SMS and emails to all such offenders, taxpayers who have taken ITCs wrongfully can voluntarily repay amount equal to the inadmissible credit before verification and punitive action is taken against them.
“Field formations have been exhorted to put forward special efforts and to initiate actions against wilful tax evaders or those who are using fake invoices or inflated or fake e-way Bills,” the official quoted above said.
Sources emphasised that the permissible ITC limits have been further reduced to 110 per cent of the declaration made by the suppliers from January 1, 2020 and the taxpayers filing their returns for the month of December 2019 should take this into consideration while filing their FORM GSTR-3B, to avoid any punitive action by the authorities.
“Principal Chief Commissioners and Chief Commissioners would have to update their efforts put up in the field to curb tax evasion and leakages, action taken on checking fake or huge ITC claims, mismatch in returns filed, etc on a daily basis,” he said.
Revenue Secretary Ajay Bhushan Pandey has been closely monitoring the revenue mop-up exercise and holding high-level review meeting with top officials to augment GST revenue.