CBEC calls for reality check to boost GST mop-up
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Amid concerns over slowing goods and services tax (GST) collections, the Central Board of Excise and Customs (CBEC) has sought detailed field reports with a special focus on the top taxpayers.
Finance secretary Hasmukh Adhia will review the revenue position with senior officials in the department on December 9.
Field officers have been asked to submit a detailed analysis comparing tax payments, before and after GST was imposed, of the top 100 taxpayers in their jurisdictions as the government seeks to understand the reasons for collections slowing. The officials have been authorised to contact the assessees personally or even visit their premises.
India’s GST collections in October fell to Rs 83,346 crore from a high of over Rs 92,000 crore in September. Moreover, the Centre’s share has been low after payment of compensation cess to states. The total central GST collection in the first four months of the new tax — July, August, September and October — has been Rs 58,556 crore.
The government is looking to avoid any revenue shortfall as it’s keen to stick to the fiscal deficit roadmap while nurturing an economic revival. The fiscal deficit was at 96% of its full-year target by the end of October.
ET has seen the letter sent by CBEC directing field officials to analyse GST collections in detail.
#casansaar (Source - Economic Times)
Finance secretary Hasmukh Adhia will review the revenue position with senior officials in the department on December 9.
Field officers have been asked to submit a detailed analysis comparing tax payments, before and after GST was imposed, of the top 100 taxpayers in their jurisdictions as the government seeks to understand the reasons for collections slowing. The officials have been authorised to contact the assessees personally or even visit their premises.
India’s GST collections in October fell to Rs 83,346 crore from a high of over Rs 92,000 crore in September. Moreover, the Centre’s share has been low after payment of compensation cess to states. The total central GST collection in the first four months of the new tax — July, August, September and October — has been Rs 58,556 crore.
The government is looking to avoid any revenue shortfall as it’s keen to stick to the fiscal deficit roadmap while nurturing an economic revival. The fiscal deficit was at 96% of its full-year target by the end of October.
ET has seen the letter sent by CBEC directing field officials to analyse GST collections in detail.
#casansaar (Source - Economic Times)
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