The Kerala government will implement an exclusive rating score for traders who submit their annual returns accurately on time and remit income tax without fail.
The Kerala State Goods and Services Tax department is implementing the initiative, which will be called Tax Payer Card, for the traders registered under the GST Act.
According to sources, Finance Minister KN Balagopal will launch the initiative online on February 3 (Thursday).
The card will let people know whether the traders are filing their monthly and annual returns on time under GST Act and whether the details submitted by them are accurate. The rating score is expected to be beneficial to both the taxpayers as well as the public, the sources said.
As far as common people are concerned, the card will help them purchase articles from shops with good rating and will also check the imposition of undue tax from them by some traders.
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“For taxpayers, the initiative will be a boon to get speedy, effective and transparent tax payment services,” one source said, adding the selection of shops having good rating for availing B2B services will help to get the input tax credit on time.
Of the total 100 score, 50 points are given to the timely filing of returns (GSTR 1). Thirty points are allotted for accuracy in filing, and 20 for timely filing of the annual returns (GSTR 9), the sources said.
(With inputs from Agencies)