Goods and Services Tax revenue increases in Coimbatore

The Commissionerate of Goods and Services Tax (GST) here registered ₹ 2,463 crore revenue in 2021-2022, which is the highest since the introduction of GST, said A.R.S. Kumar, Principal Commissioner, here on Friday.

Mr. Kumar told presspersons, on the sidelines of GST Day 2022 programme, that the tax base here, which covers Coimbatore, Tiruppur, and the Nilgiris districts, had increased to 72,300 from 53,800 five years ago. Revenue collection on April and May this year was not only higher compared to same period last year but was also more than the national average. Some of the major sectors for GST in the three districts were sugar, automobiles, pumps, machinery parts, and service providers.

The Commissionerate was balancing revenue augmentation and trade facilitation. In 2021-2022, it received 3,230 claim forms and ₹658 crores were refunded. “We clear refund claims in one month to ensure trade has liquidity,” he said.

In the case of IGST refunds, it involved verification if the exports were classified as risky. The Commissionerate conducted a special drive in December last year and cleared 157 claims after verification. There were 168 claims in total and now all cleared. This included pending 130 claims as on April 2021 and freshly allotted 38 claims during 2021-2022. The trade associations had also supported this drive by talking to suppliers of exporters so that they submit all the documents.

The Commissionerate had booked 36 cases last financial year for evasion of ₹61 crore. Of this, ₹21 crore was recovered at the investigation stage. Further, a recovery of ₹41 crores was made pertaining to arrears of legacy laws. With more automation and fixing of loopholes in the system, compliance was improving, Mr. Kumar said.

The Commissionerate felicitated top tax payers here from MSMEs, large companies, and exporters and GST officials too.

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Printable version | Jul 1, 2022 6:54:04 pm |