Monthly avg gross GST collection for FY22 & FY23 grew 30% and 22% Y-o-Y respectively
New Delhi: The monthly average gross GST collection for the FYs 2021-22 & 2022-23 have shown 30% and 22% year-on-year growth respectively.
This information was provided by Union Minister for State for Finance Pankaj Choudhary in a written reply to a question in Lok Sabha on Monday.
The Minister stated that GST is paid on a self-assessment basis and tax administration at the Central and State levels is empowered to take action against cases where GST is not paid and short paid.
Detection of such cases and recovery of taxes not paid or short paid is a continuous process.
The government, on the recommendations of the GST Council, has been bringing several reforms in GST in order to improve GST compliance and increase GST collection.
Structural changes like calibration of GST rates for correcting inverted duty structure and pruning of exemptions have been included.
Measures for improving tax compliance such as mandating e-way bills, ITC matching, mandating e-invoices, deployment of artificial intelligence and machine-based analytics, Aadhaar authentication for registration, calibrated action on non-filers, stop filers, targeted assessment-based action on the risky tax payer, integration of e-way bill with fast tag etc. have been adopted.
System based analytical tools and system-generated red flag reports are being shared with Central as well as State Tax authorities to take action against tax evaders, he said.
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