Net GST collections for April-June quarter at 26.6% of budget estimates
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Minister of State for Finance Pankaj Chaudhary has said that net Goods and Services Tax (GST) collection in the April-June quarter was over Rs 1.67 lakh crore, which is 26.6 percent of the budget estimate of Rs 6.30 lakh crore for full 2021-22 fiscal. The net GST collections include Central GST+Integrated GST+Compensation cess. In the 2020-21 fiscal, the net GST collection was over Rs 5.48 lakh crore, which was more than the revised estimates (RE) of Rs 5.15 lakh crore. In 2019-20, the net collection was over Rs 5.98 lakh crore, which is 97.8 per cent of the RE.
Chaudhary said the government has been making concerted efforts to raise tax revenue collections which inter-alia includes GST rate rationalisation to improve tax compliance, e-invoice system, mandatory e-filing and e-payment of taxes, penalty for delayed payment, extensive use of third-party sources such as State VAT Department, Income Tax etc, for compliance verification, regular enforcement and compliance verification of tax returns.
Further, the minister said system based analytical tools and system generated red flag reports are being shared with central as well as state tax authorities to take action against tax evaders. He added that E-way bill squads have been activated for the purposes of random verification of the goods in transit.
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