Post Date : January 2, 2020
In a fresh effort to tighten measures against GST offenders, the government has decided to monitor the movement of goods with the help of e-way bills and FASTag.
This comes as a part of a string of measures by the GST authorities to identify and take strict action against tax evaders.
“Through e-way bills and FASTag, we will be able to check if goods have actually moved. Data from banks will help us check if genuine transactions have taken place or bogus details have been filed up in returns”, an official told TOI.
The GST authorities have decided upon seeking bank account details of businesses to correlate with their filings apart from initiating other measures to highlight the department’s zero-tolerance towards tax evasion.
The revenue department will meet officials from central and state GST wings as well as the Financial Intelligence Unit (FIU) and the Central Board of Direct Taxes in this regard. The idea is to improve upon the red flags, which have helped the government improve compliance, resulting in the filing of the GSTR-3B forms rising over 12% to 81 lakh returns by the December 20 deadline.
Over the last few months, the revenue department has started streamlining data analysis to nab those who were underreporting sales or were claiming excess refund of the input tax credit.