Tax Collection Crosses Rs 1 Lk Cr Monthly Target
Top central tax official Sandeep Prakash says tax simplification is a continuous process
HYDERABAD, Aug 1 I(The CONNECT) – The GST Tribunal will be a reality by the end of this year.
Disclosing this, Sandeep Prakash, Chief Commissioner of Customs and Central Tax, Hyderabad Zone, today said he was confident at least some benches will start functioning by the year end.
Addressing a group of GST Consultants and Corporates at a Seminar FTCCI organised on 50th GST Council Recommendations, he said GST is a big boost to cooperative federalism.
Initially, the target was to ensure collection of one lakh crore. But for the past 15 to 16 months, the monthly average collection was a little over INR 1.50 lakh core. The latest figures for the month of July which is just out is 1.65 lakh crore, which is 11% more than the previous month, Prakash explained.
Earlier, tax related matters were used to be discussed during the annual budget period, but now the GST Council meets every month to look at issues that concern all.
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Pointing out that there is no limit for simplification, he said it is a continuous process. Nothing is perfect, he said
The job of the tax collector is to take feedback and escalate it to the council. “GST Council listens to your feedback,” he said.
FTCCI president Meela Jayadev said GST is marching towards ease of compliance.
