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Govt raises GST collection targets for February and March

By Indian Mandarins- 18 Jan 2020
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New Delhi: To deal with the slowing economy and missing budgeted estimates but encouraged with GST collection of past two months, the government is planning to augment collections. So the government has reset the GST collection charges for the second time in two months. The collection targets have been fixed to Rs 1.15 lakh crore for February and Rs 1.25 lakh crore for March.

The decision to raise the target was taken at a high-level meeting of senior officials of the CBIT and CBDT. Tax authorities will use data analytics to check mismatch of supply and purchase invoices, mismatch in return filings, over invoicing, excess refunds availed, patching the tax leakages, fake or huge ITC claims, and refunds under inverted duty structure.

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.