Growth In October GST Mop-Up Due To Economic Activity: CBIC Chief
CBIC Chairman Sanjay Kumar Agarwal on Wednesday said the growth in October GST collections, which is the second highest ever, is on account of economic activity and not due to show cause notices to online gaming companies.
Goods and Services Tax (GST) revenue in October grew 13.4 per cent to Rs 1.72 lakh crore.
GST collection in October is the second highest ever since roll-out on July 1, 2017. In April, the mop-up was highest at Rs 1.87 lakh crore.
"The growth in October GST collections was riding on economic activity and not because of notices that was sent (to online gaming companies). Growth has come purely on the economic activity which has taken place in the country," Agarwal told reporters on the sidelines of the DPIIT-CII National Conference on Ease of Doing Business.
The Central Board of Indirect Taxes and Customs (CBIC) has been issuing notices to companies for short payment of taxes in 2017-18 fiscal. The last date for sending notices for that fiscal was September 30, 2023.
Agarwal said October GST collection was not only because of domestic GST supplies, but also due to IGST on imports also.
"The imports were healthier as compared to previous months," Agarwal said, adding the imports were healthier as compared to previous months maybe because companies were replenishing their stocks or inventories or due to the upcoming festive season.
The CBIC in September had issued notices totalling about Rs 1 lakh crore to online gaming and casinos operators in September for alleged tax evasion.