The GST revenue for the state of Andhra Pradesh has shown an impressive upward growth for the fiscal 2018-19 registering a growth of 31% compared to the previous year. GST revenue for the fiscal 2018-19 stood at Rs 14099 crores.
As per an official release from the GST office the All India GST Collections stood at Rs.11.77 Lakh Crores for the FY 2018-19 against a target of Rs.11.44 Lakh Crores. IGST related refunds amounted to Rs.907.60 Crores and GST Refunds stood at Rs.923 Crores for 2018-19 an increase of 72.51% over 2017-18.
The release stated that CBIC had employed focused investigations based on Data Analytics and Risk Parameters to target the defaulters, resulting in good revenue augmentation for Vizag Zone.
Further, pro-active steps were taken by the Department to target chronic non-filers of Tax Returns, taxpayers who claimed ineligible ITC and those engaged in generation and circulation of Fake Invoices has yielded goods results.
Around 8 lakh Returns were filed in 2018-19 against only 5 lakh Returns filed in the 9 months of 2017-18. The average Return filing percentage is around 80% a month in 2018-19. Two persons engaged in generation of Fake Invoices and passing on of ineligible Input Tax Credit (ITC) have been arrested by the Directorate General of GST Intelligence (DGGI), Visakhapatnam unit.
The GST taxpayer base has gone up from 1,02,650 taxpayers in 2017-18 to 1,54,626 in 2018-19. The small and medium scale taxpayers are 40,448 at the end of March 2019. In order to facilitate the MSME Sector, the Government has amended the law on the “Composition Scheme” effective from 1st April 2019, to prescribed a higher threshold limit of Rs.40 lakhs for suppliers of goods and a special Composition rate of 6% (3%CGST+3%SGST) for those engaged in supply of services with turnover less than Rs.50 lakhs in the previous financial year.