Special Correspondent
Panaji: Chief Minister Pramod Sawant on Friday chaired a meeting of the group of ministers (GoM) on goods and services tax (GST) revenue analysis to review state-wise revenue trends and identify actionable strategies for improved GST collections.
The meeting held in New Delhi also discussed sector-specific tax leakages and corrective action to curb over Rs 2 lakh crore input tax credit (ITC) frauds. The GoM identified ITC fraud as a major issue under GST, and states suggested various measures to prevent it.
The GoM flagged Rs 2 lakh crore of ITC fraud over the past years, with states like Gujarat, Telangana, and Rajasthan making presentations on best practices for GST revenue augmentation.
The key issues discussed at the meeting were comparative analysis of pre and post-GST revenue trends, sector-specific leakages and corrective measures and evaluating the performance of compliance enforcement tools.
The other issues included e-invoicing and IT system enhancements for better traceability, state-specific policy suggestions for boosting revenue, and co-ordination between central and state tax administrations. Sawant also stated that the aim of the meeting was to ensure a robust and equitable GST framework that strengthens India’s fiscal ecosystem and supports the vision of ‘one nation, one tax’.
He is the convenor of the group of ministers (GoM) tasked with analysing GST revenue trends and recommending policy measures for revenue augmentation.
The GoM will meet again soon and thereafter submit its report to the GST Council.
