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Economic Survey 2018: CGST collections to come closer to SGST

According to Economic Survey 2017-18, CGST collections are running well below SGST collections which are expected to decline over time

IANS  |  New Delhi 

Chief Economic Advisor Arvind Subramanian talks about the Economic Survey 2018
Chief Economic Advisor Arvind Subramanian talks about the Economic Survey 2018

The difference between the Central (CGST) collection and the State (SGST) is likely to decline, said the Economic Survey 2017-18.

According to the Economic Survey tabled in Parliament on Monday, currently, collections are running "well below SGST collections.

"collections are running well below SGST collections (they should be identical by construction) because of a large stock of unutilised credit available in respect of the old excise and service This is expected to decline over time," the survey report presented in Parliament by said.

"In the steady state, collections should be close to SGST collections. Against this, we need to adjust the IGST (Integrated Goods and Services Tax) for a much higher steady state level of refunds, estimated at an additional Rs 500 billion," it said.

First Published: Mon, January 29 2018. 15:40 IST
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