GST Day was celebrated yesterday at the GST Bhavan in Coimbatore to mark the day when GST was introduced, two years ago.
GST Day was celebrated yesterday at the GST Bhavan in Coimbatore to mark the day when GST was introduced, two years ago.
Speaking on the occasion, G Srinivasa Rao, the Commissioner of GST and Central Excise said, "GST is the greatest financial reform that the country has seen and consumers are the real beneficiaries after GST was implemented, since prices have come down." The Commissioner also talked about the increase in revenue during 2018- 19 over the corresponding period of 2017- 18.
"The total GST revenue for Coimbatore, Tirupur and Nilgiris for the year 2019 ending March 31 was Rs. 4,610 crore as against Rs. 2,911 crores in the previous fiscal year. Goods and Services Tax (GST) cash revenue also increased 26 percent in the first three months of the financial year 2019-20 as compared to the same period in the last fiscal year in the three districts," he noted.
"The GST Commissionerate here covered tax payers in the three districts and the total GST tax base (Centre and State together) was initially 99,528. It has gone up to 1,91,550 now," he added.
478 refund claims were processed in the first year of GST during 2017-18, whereas during the last financial year it was 4,264 for a refund of Rs. 529 crore. This financial year, 1,153 refund applications were processed in the first three months and Rs. 152 crores was sanctioned. Anti-evasion measures against evaders have also been initiated by the GST Commissionerate in Coimbatore. Thus far, 35 cases have been registered and Rs.40 crores has been recovered, with four tax evaders arrested, since July last year.
Speaking on the occasion, G Srinivasa Rao, the Commissioner of GST and Central Excise said, "GST is the greatest financial reform that the country has seen and consumers are the real beneficiaries after GST was implemented, since prices have come down." The Commissioner also talked about the increase in revenue during 2018- 19 over the corresponding period of 2017- 18.
"The total GST revenue for Coimbatore, Tirupur and Nilgiris for the year 2019 ending March 31 was Rs. 4,610 crore as against Rs. 2,911 crores in the previous fiscal year. Goods and Services Tax (GST) cash revenue also increased 26 percent in the first three months of the financial year 2019-20 as compared to the same period in the last fiscal year in the three districts," he noted.
"The GST Commissionerate here covered tax payers in the three districts and the total GST tax base (Centre and State together) was initially 99,528. It has gone up to 1,91,550 now," he added.
478 refund claims were processed in the first year of GST during 2017-18, whereas during the last financial year it was 4,264 for a refund of Rs. 529 crore. This financial year, 1,153 refund applications were processed in the first three months and Rs. 152 crores was sanctioned. Anti-evasion measures against evaders have also been initiated by the GST Commissionerate in Coimbatore. Thus far, 35 cases have been registered and Rs.40 crores has been recovered, with four tax evaders arrested, since July last year.