GST: Revenue Leakage A Big Disappointment, Says Kerala Finance Minister Thomas Isaac

GST: Revenue Leakage A Big Disappointment, Says Kerala Finance Minister Thomas Isaac – “We are collecting tax just on the basis of GSTR-3B which is a summary return of taxes paid. Unless the details of purchases and sales are given, how do we match? GSTR-2 was to be auto-generated from GSTR-1 and if there’s a mismatch, it is to be validated. This system is just non-existent,” Isaac pointed out. “I don’t even have the information to look into the tax returns filed by the taxpayers. I’m waiting for the annual return form to be filed.”