GST collections to help achieve FY23 revenue growth target: Vivek Johri
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Central Board of Indirect Taxes & Customs Chairman Vivek Johri has expressed hope that robust Goods and Services Tax (GST) collections will help achieve the FY23 revenue growth target on the indirect taxes front, despite the impact of duty cuts on central excise and customs mop-up. He said the government's cuts in duties will make collections on customs and central excise challenging for the fiscal.
He said ‘If you look at indirect taxes as a whole, then I am pretty confident that we will meet the target. We are on track’. He also said most of the growth has been coming from the GST, where revenues have been doing very well for the last two months. He noted that ‘Given the very robust growth in GST, I think overall, we will be able to meet the revenue targets’.
He added that ‘There might be a bit of challenge in central excise revenue because of the scaling down of duties by the government earlier this year to curb inflation and there may be some challenge on the customs side also again because of reduction in duties on edible oils and some other items’. He further said the customs department has been able to pull off very big drug hauls because of data mining.
