Published 19:22 IST, January 7th 2020
GST Officials discuss ways to streamline system, curb evasion
Offiicials on Tuesday with commissioners of state and central taxes to discuss how the Goods and Service Tax (GST) system can be streamlined for faster refunds
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Revenue Secretary Ajay Bhushan Pandey held a day-long brainstorming session on Tuesday with Commissioners of State and central taxes to discuss how Goods and Service Tax (GST) system can be streamlined for faster refunds, enhanced compliance and discour tax evers.
Officials debated on ways to curb fraud and evasion, check fake or huge input tax credit claims and seek bank account details of businesses to tally ir filings. y discussed methods to curb misuse of refunds and share best practices in revenue augmentation.
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discussions focussed on a ro ahe for e-invoicing, new return system and feedback, e-way bill linking with Fastag, pendency of refunds, link of Ahaar to GST registration, enforcement module use without overreach and QR codes.
This was second all-India conference where both tax ministrations came toger formally to build synergy and to share ir kwledge with intent to bring about uniformity in tax ministrations.
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meet deliberated on a mechanism and machinery for disseminating inter-departmental data among various ncies. It was attended by senior officers of Central Board of Indirect Taxes and Customs, Central Board of Direct Taxes, Financial Intelligence Unit (FIU), Directorate General of Analytics and Risk Manment (DGARM), GSTN officials and field officers from enforcement wings.
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An official statement said all major cases of a fake input tax credit, export or import fraud and fraudulent refunds will w be investigated by Income Tax Department.
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GST collection crosses Rs 1.03 lakh crore in December 2019
For a second time in a row, GST revenue collection remained above Rs 1 lakh crore mark with December mop-up at Rs 1.03 lakh crore indicating a pick-up in consumption. GST collection in vember stood at Rs 1,03,492 crore. Before that, it was in July when mop-up crossed Rs 1 lakh crore mark at Rs 1.02 lakh crore.
GST collection stood at Rs 94,726 crore in December 2018, as per an official statement. According to official sources, GST revenue last month reflects a pick-up in consumption and improvement in compliances.
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" GST revenue during month of December 2019 from domestic transactions has shown an impressive growth of 16 per cent over revenue during month of December 2018," statement said.
19:22 IST, January 7th 2020