GST collection will jump

GST collection will jump Rs 90k cr a month from April: CBEC

The total GST collection will jump Rs 90,000 crore per month, a top official from Central Board of Excise and Customs (CBEC) said.

In January, the GST collection goes down marginally to Rs 86,318 crore from Rs 86,703 crore in December.

“Hopefully, in the coming financial year, we should be seeing buoyancy (in GST collection). Those who did not come into the fray should come into the fray. Enforcement action will take place and you will get more people on board. I am very confident that it (GST collection) will go above Rs 90,000 crore (a month),” CBEC chairperson Vanaja Sarna said on yesterday.

GST was implemented by the government from July 1, 2017. She said the initial issues related to GST have been settling now.

“A lot has been settled. All technologies that are required are there,” Sarna said.

In order to quickly sanction pending total refunds to exporters, CBEC is observing ‘GST refund fortnight’ across the country from March 15th to March 29th.

The exporters have IGST refund or Input Tax credit (ITC) claim pending with the Central Board of Excise and Customs (CBEC) those can visit the field offices where the tax officials will help them to process the pending amount i.e. ITC or REFUND.

The CBEC has already given refunds the sum of amount Rs 5,000 crore but as much as 70 percent of the total amount returned to exporters is still pending, even after eight months of GST roll-out.

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