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Apr-June Net GST Collections At 26.6 Per Cent of Budget Estimates: Govt

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The government has achieved 26.6 per cent of the budget estimates for GST collections in the first three months of the current fiscal, Parliament was informed on Monday.

 

In reply to a written question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said net GST collection in the April-June quarter was over Rs 1.67 lakh crore, which is 26.6 per cent of the budget estimate of Rs 6.30 lakh crore for full 2021-22 fiscal.

Apr-June Net GST Collections At 26.6% of Budget Estimates: Govt

The net GST collections include Central GST+Integrated GST+Compensation cess. In the 2020-21 fiscal, the net GST collection was over Rs 5.48 lakh crore, which was more than the revised estimates (RE) of Rs 5.15 lakh crore. In 2019-20, the net collection was over Rs 5.98 lakh crore, which is 97.8 per cent of the RE.

Chaudhary said the government has been making concerted efforts to raise tax revenue collections which inter-alia includes GST rate rationalisation to improve tax compliance, e-invoice system, mandatory e-filing and e-payment of taxes, penalty for delayed payment, extensive use of third-party sources such as State VAT Department, Income Tax etc, for compliance verification, regular enforcement and compliance verification of tax returns.

 

"Further, system based analytical tools and system generated red flag reports are being shared with central as well as state tax authorities to take action against tax evaders. E-way bill squads have been activated for the purposes of random verification of the goods in transit," he added.

(PTI)

Read more about: gst tax
Story first published: Monday, August 9, 2021, 19:57 [IST]
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