a day ago
GST revenue in Bengal jumps to 9.5% from 5% last fiscal
Kolkata: Revenue growth through GST in Bengal has jumped to 9.5% this year from about 5% last fiscal.
Shravan Kumar, chief commissioner of central goods and services and central excise, Kolkata zone, said this while addressing a conference — '19th Residential Study Course' — organised by Indirect Tax Committee of Bombay Chartered Accountants' Society (BCAS) in the city.
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"Eight years down the line, the GST ecosystem is evolving to address the challenges faced by taxpayers and the administration. In Bengal, authorities have detected Rs 3,500 crores of fraudulent ITC, leaving 13-15 people behind bars. These exercises have improved the revenue of Bengal govt from 5% to 9.5% in the last one year," said Kumar.
Members of traders' bodies highlighted the areas of GST that call for reforms. Akshay Binjrajka, president of Bharat Toy Association, said: "Currently, toy comes under two tax categories in GST — 12% for non-battery-operated and 18% for battery-operated toys. We urge that all toys should come under 5% GST so that customers can purchase more and manufacturing cost will decrease."
CA Mandar Telang, treasurer of BCAS, emphasised the necessity of re-examining the provisions and timelines fixed for correcting bona fide errors. Around 300 delegates from across the country participated in the conference.
