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Discrepancies Found Between GSTR 3B Liabilities and GSTR 1 Return

 

The difference in liabilities reported in GSTR-1 with regards to that in GSTR-3B is a matter of great concern and will have to be analyzed in detail by the Government of India. The same seems to be the way ahead for the GST Council chaired by the Finance Minister Mr Arun Jaitley. The GST Council will now consider deep analyzing of data to find a root cause for such wide-scale discrepancy between self-declared liabilities in GSTR-1 and actual taxes paid while filing GSTR-3B. The high number of errors committed during data entry is both alarming and questionable. As per GST returns data,

The above data reflects insights about the returns filed by more than 51.96 lakh businesses from July-December, 2017. As per experts, the non-consideration of credit/debit notes in the GSTR-1 could be a reason for such wide-scale discrepancies. Below table shows the GST collection for the period of July-December,2017.

Month GST Revenue (in Crores)
July INR 93,590
August INR 93,029
September INR 95,132
October INR 85,931
November INR 83,716
December INR 88,929

The fact that “84 % of the taxpayers were unable to correctly report revenue statements” must have raised the government ears. This is the perfect time for assessing the prevailing technical infrastructure as well as the operational glitches to make GST an automated, bias-free and completely digital Tax regime.

Recommended: 10 Major Goods and Services Tax Issues Seen Across India

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