Net Indirect Tax Collection for April-November is Rs. 6,12,653.47 crore

GST Revenue Collections - Tax scan

Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha last day said that the total net indirect tax collection (inclusive of CGST, IGST, and GST-Compensation Cess) in the current financial year during April-November, 2018-19 is Rs. 6,12,653.47 crore .

The revenue target is set for the full financial year, the actual indirect tax collection for 2018-19 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 FY 2018-19 has been fixed at Rs. 11,16,000 crore.

Also Read: Govt approves GST Account Assistant Scheme with ICAI

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.