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Govt raises GST collection targets for February and March

By IndianMandarins- 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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