GST collection to cross Rs 90,000 crore a month from April, says CBEC
In order to quickly sanction pending refunds to exporters, Central Board of Excise and Customs is observing ‘GST refund fortnight’ across the country from March 15 to March 29.business Updated: Mar 17, 2018 16:21 IST
The collection of Goods and Services Tax (GST) will see buoyancy from April onwards and will cross Rs 90,000 crore per month, a top official from Central Board of Excise and Customs (CBEC) said.
In January, the GST collection slipped 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 Friday.
GST was implemented by the government from July 1 of the last year.
She said the initial hiccups 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 refunds to exporters, CBEC is observing ‘GST refund fortnight’ across the country from March 15 to March 29.
The exporters who have IGST refund or Input Tax credit (ITC) claim pending with the Central Board of Excise and Customs (CBEC) can visit the field offices where the tax officials will help them.
The CBEC has already given refunds to the tune of Rs 5,000 crore but as much as 70% of total amount returned to exporters is still stuck, even after eight months of GST roll-out.