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GST collections for March fall below INR 1 lakh crore, stands at INR 97,597 crore

Thursday, April 2, 2020, 11:00 Hrs  [IST]
HBI Staff | Hyderabad

According to the Economic Times Goods and services tax collections for March stood at INR 97,597 crore, falling way short of INR 1.15 lakh crore target set by the government.  INR 1.05 lakh crore was collected in the month of February. The total number of GSTR-3B Returns filed for the month of February up to 31 March, 2020 is 7.65 million.

February was the fourth consecutive month when collections crossed INR 1 lakh crore. Central GST mop-up for March stood at INR 19,183 core as against INR 20,569 crore in February.

The revenue department had in January reset the target for GST collections to INR 1.15 lakh crore for February and INR1.25 lakh crore March. The targets were earlier INR 1.1 lakh crore for each month.

The Central Board of Indirect Taxes and Customs (CBIC) has been on a war footing to augment collections by reducing input tax credit (ITC) fraud. Field formations of GST authorities have been asked to focus on identifying fraudulent ITC claims while weeding out miscreants that may use fake invoices or inflated or fake e-way bills

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