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GSTN to Analyse Statistics of Tax Payers Registered with GSTIN

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Three weeks into the new tax regime, the Goods and Services Tax Network (GSTN) has said that it will analyze the statistics of tax payers registered with GSTIN and give them ratings based on the data they would provide on the portal.
GSTN is the technology backbone for implementing the single producer levy, which came into effect from July 1. The company will also study tax-payer behaviour after the system has captured data for a couple of years. It will undertake studies of various kinds for the central government to help in the future planning process.
“We would also be studying trends in various sectors production types, or turnover for certain commodities such as steel or coal or anything else,“ GSTN Chairman Navin Kumar said.
The GSTN will also help the government locate tax evaders. “We will compare the data of compani es registered on our portal with those of the income tax department to find discrepancies.“
The system will alert the tax departments in case of any discrepancy between our data sets and those belonging to other tax departments, he added.
GSTN, incorporated in 2013, has 24.5% equity from the government of India, and all states, including the NCT of Delhi and Puducherry, and the empowered committee of state finance ministers, together hold another 24.5%. The remaining 51% equity is with non-government financial institutions.
In 23 days of GST's launch, the number of registered people on the GSTN is close to 78 lakh: Of them, 70,30,000 have migrated from the previous tax regime and 7,90,000 are new tax payers.
GSTN estimated 3 billion invoices on the basis of the number of invoices that were usually submitted during the VAT regime. According to its estimate, the average number of invoices generated by businesses was 127 per month. “But the range was very wide. The smallest number of invoices a company had was 10-12 a month to 28 lakh invoices a month,“ Kumar added.
The GSTN system has been designed to handle two times the expected number of invoices. Businesses can start uploading their sale and purchase invoices generated post July 1 on the GSTN portal from July 24.
The Economic Times, New Delhi, 22th July 2017

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