GST is in the mood to boost the thugs under a nationwide campaign from April, the first business month of the country’s new financial year. According to sources from the Ministry of Finance for Hindustan, the government is now targeting more than Rs 1 lakh crore in terms of earnings per month. With the technology being implemented in the GST over the last several months, the government hopes to achieve this.
According to the officer in charge of the case, GST officials have increased and strengthened the surveillance structure that has arrested large numbers of GST thieves in the past few months. After the input of this action, surveillance will accelerate further from the early months of the financial year, which is expected to achieve the target of Rs 1 lakh crore GST collection.
As a new tool for preventing tax fraud, the GST Department is closely observing data coming from banking transactions, including income tax, customs and IT. The government’s mission is to encourage honest businessmen and crack down on thieves.
Business-to-business adjustment has begun from April 1. Also, companies with a turnover of more than Rs 50 crore are required to withdraw electronic invoices. Due to these arrangements, it is easier for the government to track the price of goods and the tax levied on it and to control the tax fraud.
Month GST Collection
January 2021 1,19,875
February 2021 1,13,143
March 2021 1,23,902
December 2020. 1,15,174
November 2020 1,04,963
October 2020. 1,05,155
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