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  1. GSTN to find cause for dip in revenue: Sushil Kumar Modi

GSTN to find cause for dip in revenue: Sushil Kumar Modi

Goods and Services Tax Network (GSTN) would conduct an audit to find out the reasons for revenue shortfall in some states across the country, BiharDeputy Chief Minister and chairman of GSTNGroup of Ministers (GoM) SushilKumarModisaid Saturday.

By: | Bengaluru | Published: September 22, 2018 10:40 PM
GSTN to find cause for dip in revenue: Sushil Kumar Modi

Goods and Services Tax Network (GSTN) would conduct an audit to find out the reasons for revenue shortfall in some states across the country, BiharDeputy Chief Minister and chairman of GSTNGroup of Ministers (GoM) SushilKumarModisaid Saturday.

Speaking to reporters after the 10th meeting of GSTN GoM here, he said there are six states, includingHimachalPradesh,Jammuand Kashmir, Bihar and Uttarakhand facing shortfall in revenue. The Central government is addressing the problem of revenue shortfall, which has gone down from 17 per cent to 13 per cent until July, he said.

In Bihar, revenue went down from 42 per cent to 20 per cent; in Gujarat, Maharashtra and TamilNadu,there was hardly a 3 to 4 per cent shortfall, he pointed out. The total number of returns filed underGSTso far was Rs 15.71crore; the number of payment transactions made underGSTwas Rs 5.35crore, he said. On the issue of bringing petroleum products underGST, he said theGSTCouncil would decide on the date of levyingGSTon petroleum products. “Since the earlier regime (UPA) did not decide on bringing petroleum products underGST, there was a need for an amendment,” he added.

Even if thepetroleumproducts were brought underGST, states have the liberty to levy taxes aboveit, he said, adding that people should not assume that prices can becontrolledby bringing petroleum products underthe ambit of the GST.

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