The Department of Revenue has revised its monthly GST collection target to Rs 1.15 lakh crore (from the earlier Rs 1.1 lakh crore) for January and February each and Rs 1.25 lakh crore for March.
In a high-level meeting of the revenue department attended by very senior officials of Central Board of Indirect taxes and Customs (CBIC) and Central Board of Direct Taxes (CBDT), including both Board's Chairmen and members, an action plan has been discussed to enhance revenue collection in the last quarter of the financial year and strategies to make the field functions more efficient to achieve the collection target without any overreach.
The sources in the department said that GST authorities would look into the mismatch of supply and purchase invoices and data analytics on a mismatch in GSTR-1, GSTR-2A and GSTR-3B. The authorities would also look for cases of failure of filing returns, over-invoicing and fake or excess refunds availed beyond the permissible limits. They would also take actions to plug in the tax leakages and check fake or huge ITC claims.
The department also plans to send SMSes and e-mails to all such fraudulent or excess ITC claimants, targeted defaulters, non-filers and those who provide mismatched information in their returns or over-invoice or who have been identified through data analytics for tax evasion by duping the system through rogue modus operandi. Taxpayers who have taken ITC wrongfully can voluntarily repay an amount equal to inadmissible credit before verification and punitive actions are taken against them.
It is further learnt that the electronic communications to such identified targeted taxpayers and fraudulent refund seekers and over-invoice users would be followed by visits from the GST field formations to make them abide by the law and pay due taxes in time. The field formations would be required to report daily.
The department has so far sent alerts to around 40,000 companies for excess ITC, availing it fraudulently and other tax-related wrongful issues.
Field officers have been asked 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. Principal Chief Commissioners and Chief Commissioners will have to update on their efforts to put up in the field to curb tax evasion and leakages, action was taken on checking fake or huge ITC claims and mismatch in returns filed on daily basis.