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Indirect tax collections at Rs 612653 crore in April-November 2018-19

Capital Market 

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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 04 2019. 19:39 IST