GSTnews item22 November 2018

Indirect tax mop-up in FY'19 may fall short by Rs 90,000 cr Report

News Update

Indirect tax mop-up in FY'19 may fall short by Rs 90,000 cr Report

Published Date: Nov 23, 2018
Source: ICAI PD Committee
Indirect tax collections are likely to fall short by Rs 90,000 crore in the current fiscal on account of subdued GST mop-up and excise duty cut on petroleum products, an SBI research report said yesterday. According to the Budget Estimate, the government proposed to mop up Rs 7.4 lakh crore from the goods and services tax (GST) and Rs 2.6 lakh crore from Union excise duties. Excise duty was subsumed under GST, except on petroleum items and liquor & alcoholic products used for human consumption.
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