Why in news?

The third version of GST Prime, an analytical system from National Informatics Centre (NIC) that will help increase tax compliance, was launched in Bengaluru by Chief Minister Basavaraj Bommai.

What is GST Prime?

• GST-Prime is a product by National Informatics Centre (NIC) to help the tax administrators of state/centre to analyse and monitor the tax collection and compliance in their jurisdiction.
• This system caters to the requirements of the field level offices and enforcement/intelligence offices to identify the defaulters and tax evaders.
• The system acts as an interface between GST Common Portal and E-way Bill Systems and tax administrators.

Advantages:

• It provides analysed and actionable reports and helps in enforcing GST in a more efficient and effective manner.
• GST Prime has helped officials in identification of top defaulters, detection of frauds, tax evasion and helps in analysis of tax payers’ data on various parameters. Sector wise analysis is done and forecasting of tax collection is taken up using the tool

What would be added in the next version?

• In the next version, critical databases like NREGA, BBMP, BSECOM, and e-procurement among others will be integrated to detect tax evasions. In future, the artificial intelligence and machine learning features will be introduced to pin point and detect fraudsters.

Bengaluru CGST Zone

• It marks five years of GST
• Bengaluru zone is the second largest contributor for GST in the country.
• The zone witnessed unparalleled increase in the number of registration of tax payers, almost doubling revenue collection in five years.

Maximum collection in Karnataka

• Karnataka has eight GST commissionerates covering various jurisdictions.
• Of them, five are in Bengaluru. The others are in Belagavi, Mysuru and Mangaluru.
• Among individual commissionerates, Belagavi commissionerate collected the highest GST in 2021-22.
• With 12 revenue districts in its jurisdiction and the highest number of taxpayers, the Belagavi GST Commissionerate is the largest in Karnataka zone.
• At the all-India level, the Karnataka zone is placed second in collection of GST at ₹48,440 crore, next only to Mumbai zone.
• JSW Steel Ltd. is the highest GST paying unit in Karnataka. The company has contributed the majority of revenue in Belagavi Commissionerate, which covers the districts of Belagavi, Dharwad, Gadag, Koppal, Vijayanagara, Ballari, Raichur, Yadgir, Gulbarga, Bidar, Vijayapura and Bagalkot.

GST Day

• GST Day was celebrated in Belagavi on July 1 to mark completion of five years of Goods & Services Tax.

• GST@5: Saadhan, Desh ke Sarvangeen Vikas Ka is the theme adopted by the Central Board of Indirect Taxes for the event to be held in KLE Centenary hall.