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Govt collects net indirect tax of Rs 6,12,653.47 crore in April-November of FY19

07 Jan 2019 Evaluate

Minister of State for Finance, Shri Shiv Pratap Shukla has stated that  the total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) in first eight months (April-November) of the current financial year (FY19) was Rs 6,12,653.47 crore.  The minster further underlined that the revenue target is set for the full financial year, the actual indirect tax collection for FY19 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 2018-19 has been fixed at Rs 11.16 lakh crore (Rs 11.16 trillion).

Besides, he asserted that 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.

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