Goods and Services Tax – GST Dated:- 8-2-2022 – News – Average monthly gross GST collection for third quarter of FY 2021-22 is ₹ 1.30 lakh crore Record GST collection of ₹ 1,40,986 crore reported for January, 2022 The average monthly gross Goods Services Tax (GST) collection for the third quarter of FY 2021-22 has been ₹ 1.30 lakh crore against the average monthly collection of ₹ 1.10 lakh crore and ₹ 1.15 lakh crore in the first and second quarters respectively. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha. The Minister further stated that a record GST collection of ₹ 1,40,986 crore is reported in the month of
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ore in January, 2022, the Minister stated. The Minister also stated that since the Government has been making concerted efforts to raise tax revenue collections which inter-alia includes GST rate rationalidation to improve tax compliance, e-invoice system, mandatory e-filing and e-payment of taxes, penalty for delayed payment, extensive use of third- party sources such as State VAT Department, Income Tax etc. for compliance verification, regular enforcement compliance verification of tax returns, taxpayer education and media campaign etc. and further system based analytical tools and system generated red flag reports are being shared with Central as well as State Tax authorities to take action against tax evaders, therefore, it is e
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