Economy

CGST collections miss target by 40% in Apr-Nov.

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‘Registered 999 cases of GST evasion’

The Central GST collection fell short of the budged estimate by nearly 40% during the April-November period of 2019-20, according to the data presented in Parliament on Monday.

The actual CGST collection during April-November stood at ₹3,28,365 crore while the budgeted estimate is of ₹5,26,000 crore for these months, Minister of State for Finance Anurag Singh Thakur said in a written reply in Lok Sabha.

The Minister added that the data was provisional. In 2018-19, the CGST collection stood at ₹4,57,534 crore as against the provisional estimate of ₹6,03,900 crore for the year, he said.

In 2017-18, the CGST collection was ₹2,03,261 crore.

The Minister said that as many as 999 cases were registered till October in the current fiscal for GST evasion and ₹8,134.39 crore has been recovered. In 2018-19, ₹19,395.26 crore was recovered (1,473 cases) and in 2017-18 the recovery was ₹757.81 crore (148 cases).

He also said that a new CGST rule mandates that the input tax credit availed by a taxpayer shall not exceed 20% of the eligible credit available in respect of invoices or debit notes.

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Printable version | Jan 19, 2020 8:56:05 PM | https://www.thehindu.com/business/Economy/cgst-collections-miss-target-by-40-in-apr-nov/article30259380.ece

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