As per the Office Memorandum (OM) dated 15 July 2019, a Committee of Officers (CoO) has been constituted w.r.t. risk-based management of taxpayers who have registered for GST. The CoO has been formed based on the Competent Authority’s approval.
The objective of this CoO will be to inspect, study, and recommend:
- The modalities concerning a taxpayer’s KYC verification via several agencies, parameters w.r.t risk-based profiling of a taxpayer so that the ‘risky’ entity can be identified automatically.
- Viable interventions/limitations to be levied on taxpayers w.r.t. regulation of issuing of invoices, ITC utilization, refunds, ITC approvals based on risk parameters.
- The modalities with regards to evaluating a taxpayer’s financial credibility through his/her GST profile. Also, propose several threshold limits for such kind of target taxpayers.
- Changes which are necessary to be made in the GST Law and Rules to allow profiling and regulate risky taxpayers. Inclusion of penal provisions for taxpayers who don’t comply with the required regulations of KYC.
- Measures for implementing the suggested risk-based management on priority. Other initiatives and mechanisms to curb tax-related frauds.
The CoO on risk-based management of GST-registered taxpayers will comprise:
- P.D. Vaghela (Co-Convener): Chief Commissioner of State Tax, Government of Gujarat
- Upender Gupta (Co-Convener): Pr. Commissioner, GST Policy Wing, CBIC
- Srikar M.S.: Commissioner of State Tax, Government of Karnataka
- V.P. Singh: Excise and Taxation Commissioner, Government of Punjab
- Ritvik Pandey: Joint Secretary (Revenue), Department of Revenue
- Manish Kumar Sinha: Joint Secretary (TRU-II), CBIC
- Dheeraj Rastogi: Joint Secretary, GST Council
- Sanjay Gupta: Additional Directorate General(DG), DG Analytics & Risk Management (ARM), CBIC
- Vashishtha Prasad: Senior Vice President, GSTN
- Manish Saxena: Additional DG, DG System and Data Management
When required, CoO might consider officers from States and Centre, trade members, technical experts, and a National Informatics Centre representative for a consultation. CoO might probably submit its report in less than a month.