New Delhi: An important meeting of the GST Council is going on today. According to reports, this meeting is likely to be considered for increasing GST collection. The government is planning to make structural changes to enhance the GST collection. The government may increase the GST rate for the decline in GST storage.
The 38th GST Council meeting will chaired by Finance Minister Nirmala Sitharaman, has sought suggestions for a review of GST . To increase GST collection, the Council has also sought suggestions on various remedies, as well as other remedies that have been applied at the present time. To review prices on various items and to rationalize prices and re-adjust the tax structure.
A tax slab was announced today at the meeting, chaired by Finance Minister Nirmala Sitharaman. It may be recalled that the Modi government had sought suggestions from the GST officials as the GST collection came lower than expected. After consultation with the authorities, there has been talk of raising the tax slab by 5 percent to 8 percent.
Apart from Sitharaman, the last meeting was attended by Minister of State (MoS) for Finance Anurag Thakur, Goa Chief Minister Pramod Sawant, besides Minister for Transport and Panchayat Mauvin Godinho who is nominated a member of Goa for GST Council.
GST collection went through in the month of November
In the month of November as a Goods and Services Tax (GST) collection, the total collection is Rs 1,03,492. Of this, CGST i.e Center has a total GST of Rs. 19,892 crore and SGST ie Rs. 27,177 crore of States. While IGST stood at Rs 49,028 crore. At the same time, Cess was grossing at Rs 7,727.
The total GST collection in October was Rs 95,380 crore. The GST collection has increased in this month compared to the previous month. In September, the GST collection was below Rs 1 lakh crore.