The growing instances of GST frauds have put GST officers on their toes, working out a mechanism to tackle the situation in hand. Although GST officials have successfully counteracted multiple defaulters who, with the help of fake invoices and GSTINs, were caught robbing the nation of its financial assets. However, the operational area of GST is spread nationwide and connecting millions of people. This provides the small players with a chance to easily hide in clear sight while benefitting from the loopholes of the still-juvenile taxation system of India.
Under such circumstances what can be done?
While the GST maestros design fool-proofed amendments to GST law and eliminate such tax frauds, you can simply Peridot it with IRIS Peridot!!!
What is IRIS Peridot?
IRIS Peridot is a free compliance tracking solution (Mobile Application) developed by IRIS GST, a leading GST Suvidha Provider in India. The Peridot app offers its user with a quick overview of the given GSTIN’s tax filing status and crucial business details.
How to Peridot?
- The user receives an invoice (with a GSTIN no.) for his/her purchases.
- P.S: if the given invoice doesn’t have a valid 15 digit GSTIN no. the vendor cannot charge additional tax for (excluding the taxes inclusive to the purchased product’s MRP).
- The user scans the GSTIN on an invoice by clicking on the camera icon given on the bottom right corner of the application. Peridot’s scan feature has been tested to auto-capture GSTIN no. from a plethora of invoice types and qualities. However, there may be scenario it may fail to read the GSTIN no, such as
- Invoice’s print quality is poor
- Poor lighting conditions (the user can use flash in such scenarios)
- Blurry camera/ unable to focus
Under such situations, the user can enter the GSTIN no. manually as well.
Once Peridot receives the GSTIN, it quickly checks for the details related to the given business across the GSTN’s data repository and provides you with the 3 tabs, as mentioned below
- Snapshot: A quick overview of the given business, along with its eligibility to collect tax on the sale of any goods or services. The eligibility of the business is calculated based upon the nature of registration and status.
- Business Details: A detailed synopsis of the businesses associated with the given GSTIN. These details range from the date of registration to the type of business, and from current place of business to all its branches, it entails it all.
- Filing Status: A month by month filing history of the vendors form GSTR 1 and GSTR 3B.
Eligibility To Collect Tax:
As mentioned earlier, IRIS Peridot scans through data repositories to check the nature of a persons GSTIN registration and status. Under GST, the following are eligible to collect tax,
- Regular Taxpayers
- SEZ taxpayers
- Non-Resident Taxable Person
- A person supplying online information and database access
Along with these, Peridot also checks the status of the person’s registration, whether it is still active/expired or cancelled.
Reporting Non-Compliance
If you find any non-compliance in the given GSTIN wherein the vendor is asking GST for his goods or services, here is what you should do,
- Make sure the name of the business and GSTIN provided has been entered correctly.
- Tap on Report Non-Compliance (Under Snapshot tab).
- Fill the form (You can also submit the form anonymously).
- Submit the form directly to the CBIC.
IRIS Peridot, an IRISGST product, is a searchable data repository for GSTIN. It can be used for checking compliance score of companies or individuals alike which suggests if the filings are happening on time, is the GSTIN eligible to collect tax and even lets users report non-compliance directly to the authorities.
Download IRIS Peridot today, http://bit.ly/IPeridot
For any queries, contact us at support@irisgst.com.
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