Only 16% of initial GST Returns filed for July-Dec matched with Final Returns

GST - Tamil Nadu - Returns - due dates Taxscan

After the due date of filing GST for this year, it has found that only 16 percent of the summary sales returns under the Goods and Service Tax matching with the final returns consequently, the revenue department has started to analyze the causes for this mismatch with a view to check any possible tax evasion.

According to the GST returns data, said that 34 percent businesses have paid Rs.34400 crore less tax during the month December while filing initial summary returns. As per the GSTR-1 data, the tax liability of these businesses has amounted to Rs. 8.50 lakh crore whereas they have paid Rs 8.16 lakh crore only to the exchequer while filing their GSTR-3B.

The Goods and Services Tax (GST) was launched by the Government on 1st July 2017.

The revenue department has analyzed that the initial returns filed by these businesses and percentage of taxes paid them have matched with their final returns and tax liability and found that they paid a total taxes of Rs 22,014 crore.

The revenue department also added that there was excess tax payment made by several businesses registered under GST between July-December. The department also analyzed the return data filed around 51.96 lakh businesses as per the new tax regime rolled out from July onwards.

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