The report of the Comptroller and Auditor General (CAG) of India on the performance audit of GST is likely to finalize its report soon and the same may be tabled before the Parliament during the winter session beginning December 11.
The CAG is auditing the functioning of the new indirect tax regime since its implementation on July 1, 2017.
The audit aspect would include registration, refund, input tax credit, transition credit mechanism, ease of payment of taxes and the impact on the economic activity, the sources told PTI.
According to sources, the CAG team has already visited the GST Commissionerates in major states to get clarity on the functioning of the new indirect tax system and its efficiency and effectiveness.
As part of the performance audit, the CAG looks at programmes, systems, and activities to check if they are in accordance with the principles of economy and whether there is any scope for further improvement.
The performance audit will not take into account revenue collections. Its focus would primarily be on the implementation aspect of GST.
There were a lot of glitches under GST in its initial days including technical issues in GSTN, evasion, E-Way Bill, TDS and TSC implementation, processing of IGST refund etc.
The monthly average revenue collection from GST in the previous fiscal (July 2017-March 2018) was Rs 89,885 crore. In current fiscal, the collections stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September and Rs 1 lakh crore in October.
