Thursday, March 28, 2024

Indirect Tax Collections during April-November 2018 is Rs. 6,12,653.47 crore

gst-taxesDelhi. January 5 (Punjab Post Bureau) – The total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) in the current financial year during April-November, 2018-19 is Rs. 6,12,653.47 crore. The revenue target is set for the full financial year, the actual indirect tax collection for 2018-19 will be known after completion of the current financial year. The Budget Estimate(BE) for indirect taxes revenue (inclusive of CGST, IGST and GST-Compensation Cess) for FY 2018-19 has been fixed at Rs. 11,16,000 crore. Various administrative steps have been taken by the Government to achieve the set target for this financial year like; GST rate rationalization to improve the tax compliance, 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 & compliance verification of tax returns, taxpayer education and media campaign etc. This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.

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