CBIC hopes to maintain GST collection of Rs 1.35 lakh crore

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CBIC hopes to maintain GST collection of Rs 1.35 lakh crore

The Central Board of Indirect Taxes and Customs CBIC chairman Vivek Johri said he was hopeful of maintaining the average monthly GST collection of Rs 1.35 lakh crore, but he said that duty cut and rising commodity price could put pressure on custom and excise duty collection. He said the collection bounced back in economy, better compliance and use of technology in plugging revenue gaps, but he also attributed it to inflation and high oil prices. Revenues will be under pressure on the Customs side because of rising commodity prices. Excise will take a hit because of the duty cut, Johri said while addressing a FICCI conclave. He said that the entire exercise of revenue augmentation has been driven by data analytics and data triangulation. We have suspended registrations by culling out risky taxpayers by implementing data triangulation with the DGFT Directorate General of Foreign Trade and income-tax department. Johri said that the gamers and those who were gaming the system have been culled out. He said that the CBIC is also focused on revenue loss due to smuggling and illegal trade. We are aggressively opposing illegal trade in these goods at the CBIC. In 2021 -- 22, we seized 92,000 kg of narcotics worth Rs 17,400 crore. We also seized 14 crore cigarette sticks during this period, Johri said. To curb trade, the CBIC has increased the use of technology in its operations with 22 cargo scanners at 16 locations to ensure 100% scanning of all containers coming into the country through gateway ports, Johri said.