CBIC Chairman, Vivek Johri said, the CBIC will use data from electric meters and property tax to raise the basis of GST.
The CBIC Chairman said, although GST was implemented, there was a GST tax base of Rs 45-50 lakh, which is now raised to Rs 1.4 crore. Johri added, “here is a good scope for raising the tax base. We’ll help power distribution companies, catch the data of electric meters and will also use the property tax data to raise the tax basis of GST.
Vivek Johri said the board’s strategy regarding GST is those collect earnings as its designation, and along with that it is also needed to raise the tax base, the CBIC Chairman said in an exclusive interview with ANI.
Johari further mentioned, “When we give insight into at other tax bases, the GST taxpayers is very less. We need to increase this in a very organized and scientific way, where analytics will be used”.
Chairman said, “In this Budget, the Finance Minister has announced that PAN will be considered as a common business identifier. We’ll take the help of the distribution data of power distribution companies. We will also use the property tax data”.
“Traders who are in such a department who sell goods in cash and don’t give invoices, and that is why there is a drop of GST. We’ll have to discuss with them how we can change this attitude. This has to be reformed as it is not in the interest of the society and country as a whole. Even if it is the central government or the state government, we are considering the taxable activities,” Johri said CBIC has to identify these departments.
He added that they would take this work forward in some departments, “Regarding VAT there was an experiment in some states, that we’ll draw a lottery on the basis of if you pay the bill so that the customers are encouraged and they come forward and ask for the invoice.”
Johari further said, “We are also trying to address this through our taxpayers’ services. We are running advertisements; states are also doing this to change customers' attitudes.”
If you need any clarification regarding the GST law and its compliances for taxpayers, feel free to contact GST Professionals at ASC Group.
Source: Economic Times
Your email address will not be published. Required fields are marked *