CGST falls short of budget estimate by 40% in April-November
CGST collection during Apr-Nov stood at Rs 3.28 lakh crore against budgeted estimate of Rs 5.26 crore.
CGST falls short of budget estimate by 40 % in April-November
The Central GST collection fell short of the budget estimate by nearly 40 per cent during the April-November period of 2019-20, according to the data presented in Parliament on Monday.
The actual CGST collection during April-November stood at Rs 3,28,365 crore while the budgeted estimate is of Rs 5,26,000 crore for these months, Minister of State for Finance Anurag Singh Thakur said in a written reply in Lok Sabha.
The Minister added that the data was provisional. In 2018-19, the CGST collection stood at Rs 4,57,534 crore as against the provisional estimate of Rs 6,03,900 crore for the year, he said.
In 2017-18, the CGST collection was Rs 2,03,261 crore.
The Minister said that as many as 999 cases were registered till October in the current fiscal for GST evasion and Rs 8,134.39 crore has been recovered. In 2018-19, Rs 19,395.26 crore was recovered (1,473 cases) and in 2017-18 the recovery was Rs 757.81 crore (148 cases).
He also said that a new CGST rule mandates that the input tax credit availed by a taxpayer shall not exceed 20% of the eligible credit available in respect of invoices or debit notes.
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