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GST returns information to be included in Form 26AS
October, 01st 2020

Information on GST returns will appear in an income tax statement form called Form 26AS. Experts feel this will ensure better compliance and curb tax evasion.

“The Central Board of Direct Taxes (CBDT) authorises the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) to upload information relating to GST returns, which is in his possession, in the Annual Information Statement in Form 26AS, within three months from the end of the month in which the information is received by him,” an order by the CBDT said. Further, it was mentioned that the Principal DG/DG (System) will specify the procedures, formats and standards for the purposes of uploading of Annual Information Statement in Form 26AS.

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Form 26AS is an annual consolidated income tax credit statement. It helps the taxpayer to ascertain the tax deducted and the advance tax paid during the year and match with the tax deposited as per the tax department’s records. Now, one can directly import the Form 26AS information, while filing Income Tax Returns. The form can directly be accessed through net banking facility or through e-filing website of the Income Tax Department (https://incometaxindiaefiling.gov.in).

According to Shailesh Kumar, Partner at Nangia & Co LLP, recently the CBDT had issued notifications u/s 138 of the Income Tax Act, allowing income tax authorities to share information with various other departments/ authorities, including GST. Further, the format of Form 26AS was also modified and enlarged to include information received from other departments/ agencies, including the GST authorities.

By the present order, the CBDT has assigned responsibility within the Income Tax department, to upload information received from the GST authorities into Income Tax department systems, which will also reflect in profile/ Form 26AS of respective taxpayers.

“With this order, the Income Tax department moves a step further to plug the loopholes and use data received from other departments/ authorities to improve income tax compliance/ collection,” he said.

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