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GST - Govt trying to beat gamers to improve collections: FM

Published: Feb 09, 2020

By TIOL News Service

CHENNAI, FEB 09, 2020: THE Union Finance Minister, Ms Nirmala Sitharaman, yesterday said that the Govt is taking several measures to plug loopholes in GST collections which have exceeded Rs 1 lakh crore mark in the past three months. She was speaking to media persons after an interactive session on Budget here in Chennai.

She said that the measures being taken by the Centre are focussed on areas where system was being gamed. She also said that compensation arrears to States will be paid in two instalments and will be paid soon.

The Revenue Secretary on his part stated that the Revenue is relying more on big data and data analystics and red flag report is being generated wherever there are mismatches.

On the issue of IPO of LIC, the Union Finance Minister said that no decision has been taken so far on the quantum of shares to be listed.

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