Budget target for indirect tax collection at Rs 1116000 crore for FY 2018-19
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 612653.47 crore.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 1116000 crore.
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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content