GST collection rises in September, but still short of goal
New Delhi: Revenue collections from the goods and services tax (GST) rose to ₹ 94,442 crore in September but is still short of the ₹ 1 trillion monthly target set by the government. GST revenues in August were ₹ 93,690 crore. The shortfall in collections will increase government’s dependence on direct tax collections to meet fiscal deficit target for FY19. A slew of tax rate cuts along with lack of adequate steps to check tax evasion, including invoice matching, have contributed to GST revenues missing monthly collection goals. The slow pick-up in revenue collections under GST has been a cause of concern for the government, with central tax officials touring states to discover the underlying reasons. tax, and whether the tax will be levied on all items or sin and luxury goods. The panel will also decide on the scale of disaster, which would require funds in addition to what is provided under national disaster relief fund.
The panel will have representation from north-east, coastal and hill states. The Constitution amendment brought in to facilitate GST’S rollout has a provision that in the event of a natural calamity, a special rate can be imposed with the permission of the GST Council.