CGST collections fell short of the budged estimate
The Central GST collection miss the target by approximately 40% in the period of April-November of 2019-20, according to the data presented in Parliament recently.
The actual CGST collection during April-November reached ₹3,28,365 crore, whereas the budgeted estimate is of ₹5,26,000 crore for this period, Minister of State for Finance Anurag Singh Thakur informed in a written reply in Lok Sabha.
The Minister also shared that the data was provisional. In 2018-19, the CGST collection stood at ₹4,57,534 crore as against the provisional estimate of ₹6,03,900 crore for the year, he said.
In 2017-18, the CGST collection was ₹2,03,261 crore.
The Minister stated that as many as 999 cases were registered till October in the current financial year for GST avoidance and ₹8,134.39 crore has been recovered. In 2018-19, ₹19,395.26 crore was recovered (1,473 cases) and in 2017-18 the recovery was ₹757.81 crore (148 cases).
He also said that a new CGST rule mandates that the input tax credit availed by a taxpayer shall not exceed 20% of the eligible credit available in respect of invoices or debit notes.