GST collection in November seen at lower than Rs 83,000 cr in October; errant taxpayers face crackdown
Saddled with a massive amount of unverified input tax credit (ITC) claims from the taxpayers, the government fears that the goods and services tax (GST) revenue for November could be lower than Rs 80,000 crore. Government officials told FE that deferment in filing comprehensive triplicate forms (GSTR-1,2 and 3) has left the government with no viable option to check veracity of taxes paid and credits claimed. The finance secretary met revenue department officials from states and Centre on Saturday to analyse the GST collection trend to plug leakages following the reduction in October mop-up to around Rs 83,000 crore.
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