The CBIC chief Sanjay Kumar Agarwal on Thursday said increased monthly GST collections are mainly on account of higher compliance, and the GST Council’s decision to tighten return filing and registration process would help reduce fake ITC claims in evasion prone sectors, including iron and steel.
Agarwal said the Central Board of Indirect Taxes and Customs (CBIC) has received suggestions regarding streamlining tax rates in evasion-prone sectors and all that is being discussed.
The Goods and Services Tax (GST) collection was Rs 1.87 lakh crore in April and in the first four months of the current fiscal, the collections have averaged Rs 1.67 lakh crore.
____________________________________________________________________________________________________________
🎉 Join our dedicated WhatsApp channel for Real-time GST Updates and Other Tax Updates !!
 |
|
Dear Friends & Colleagues, Exciting News! 🎉 We’ve launched a dedicated WhatsApp channel that delves into the complex yet fascinating world of Indian Taxation, aptly named “GST with Adv. Bimal Jain & A2Z Taxcorp LLP.” Join us here: [https://whatsapp.com/channel/0029Va5XmHg9WtC4wKWmFr2a] Joining our WhatsApp Channel is as easy as 1-2-3: 🔍 Step 1: If you’re on mobile, simply click the invite link. If you’re on desktop, scan the QR code using your phone. 🤝 Step 2: Click ‘Follow’ at the top-right corner of your screen. 🔔 Step 3: Don’t forget to hit the bell icon at the top to receive timely notifications. This channel is great for Tax Professionals, Lawyers, CAs, CSs, CMAs, and anyone who wants to know more about Indian taxes. It doesn’t matter if you’re experienced or just getting started in the tax world – this is the perfect place to stay Updated. Feel free to share this channel link with anyone interested in learning about Indian taxes. Your support is greatly appreciated! 🙏 Best Regards, Follow us on our social media for more updates: |