The Central GST collection for the period of April-November 2019 fell short by nearly 40 % of the budget estimation, says the data presented by Minister of State for Finance Anurag Singh Thakur in parliament on Monday.
The actual Central GST collection for the period of April-November was Rs 3,28,365 crore while the estimate for the budget is of Rs 5,26,000 crore for these months.
In his written reply in Lok Sabha, Minister of State for Finance informed about the collection and added that the data was, however, provisional.
He added further that the actual CGST collection stood at Rs 4,57,534 crore as against the provisional estimate of Rs 6,03,900 crore in 2018-19. The CGST collection touched Rs 2,03,261 crore in 2017-18.
The minister informed the house about the case registered for GST evasion till October in the current fiscal. He said that as many as 999 cases were registered for GST evasion and Rs 8,134.39 crore has been recovered.
Last year, a total of 1473 cases of GST evasion and Rs. 19,395.26 crore were recovered, while in 2017-18 the recovery was of Rs 757.81 crore from 148 cases.
In his written reply to the house, the minister said that for strengthening monitoring tools to prevent GST evasion, the emphasis has been laid on system based analytical tools and system-generated intelligence.
The minister of state for finance said, ‘In this connection, the Directorate General of Analytics and Risk Management (DGARM) has been set up by the CBIC. Further, E- way bill squads have been activated for the purposes of random verification of the goods in transit,”
A new CGST rule has also been inserted, said the minister, which puts restriction that the input tax credit (ITC) availed by a taxpayer shall not exceed 20 per cent of the eligible credit available in respect of invoices or debit notes.
The capping of ITC would lead to a reduction in cases of fraudulent ITC availed as well as an increase in payment of tax through cash thereby boosting GST collection, Anurag Singh Thakur concluded.