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.