Declining imports are pulling down overall GST collections: Government

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Narendra Modi government on Tuesday said that declining imports are pulling down the overall Goods and Services Tax (GST) collections, which is an area of concern for the Centre. This comes after GST collections crossed the Rs 1 lakh crore mark after a gap of three months in November, growing by 6 percent to Rs 1.03 lakh crore aided by festival demand.

In an interview to CNBC-TV18’s Timsy Jaipuria, Ajay Bhushan Pandey, union revenue secretary, said GST revenue collections have shown a reversal in the trend and expressed confidence that there was scope for improvement in collections.

Pandey said that the revenue department has written to all the commissioners of state GST asking them to give suggestions, inputs, and proposals as regards to measures when it comes to specific suggestions on items such as review of items currently under exemptions, GST and compensation cess rates of various items and rate calibration for addressing the inverted duty structure. According to Pandey, the government is on course to achieve the direct tax collection target.

Read More at: https://www.cnbctv18.com/videos/finance/declining-imports-are-pulling-down-overall-gst-collections-government-4806991.htm