Principal Chief Commissioner of GST and Central Excise, Tamil Nadu and Puducherry Zone, Mandalika Srinivas has urged tax officials to work towards achieving the ambitious target of ₹800 crore as Central Goods and Services Tax (CGST) in the Union Territory during the current financial year.
Mr. Srinivas, who was here in Puducherry on Thursday for an internal review, reportedly told the meeting that the UT had witnessed a rebound in the economic activity in the last five months of the current fiscal with GST collections registering a considerable improvement in April to August, compared to the corresponding months in the previous financial year.
“There has been a substantial improvement in economic activity and in the tax collection front, and with this better performance, an ambitious target of ₹ 800 crores from CGST has been set for the UT. Going by the current trend, there is hope of achieving the target,” said an official.
The revenue proceeds from CGST have gone up to ₹325 crore till August 2022, when compared to ₹ 214.76 crore collected up to August 2021. The CGST collection has shown an increase of 51.34 % which is much higher when compared to zonal average of Tamil Nadu and Puducherry.
The compliance level, according to a GST official, had improved substantially due to the strict enforcement of policies outlined by the Central Board of Indirect Taxes and Customs. The Directorate of Analysis and Risk Management has played a crucial role in enforcing better compliance and tax collection.
The revenue collected from defaulters in the last five months has gone up to ₹ 8. 24 crore (GST), compared to ₹ 2. 96 crore (GST) in the corresponding period last year, said the official.
Mr. Srinivas during his visit also reviewed the progress of the lighthouse renovation undertaken by the Union Ministry of Finance. The GST and Central Excise Office has been working from the lighthouse building for years.
GST office in a release said, “The iconic 19th-century lighthouse, a Grade-1 listed heritage building on the Beach Promenade, which is under renovation will soon regain its old glory with the Union Ministry of Finance undertaking the restoration through the CPWD and the project is nearing completion.”
Taken up at a cost of ₹4 crore, the renovation work was expected to be completed by end of October. The work included the replacement of rafters and beams and re-plastering of the structure. CPWD was taking up landscaping with proper pathways and greenery. 90% of the work has been completed, the release said.