Union Finance minister constantly denied that there has been fall in collection in the GST. The Centre has proposed to the GST council that rationalisation of rates be done only once in a year and not every 3 months. The reason of this proposal is that the present system was bringing in a certain level of uncertainty for both the government and the taxpayers.
Union Finance minister said that the central and state governments are not able to assess what they will earn through GST in the whole year. The suggestion is in line after the ministry thought of this as a better rationalization process and this will be more relevant of it is done once in a year instead of doing this in every 3 months.
Union Finance minister also said that over the past three months, the exact amount of GST collection has crossed ₹ 1 lakh crores on almost every month. In January itself, the collection was ₹ 1.11 lakh crores. She said added that the GST administrators have benefited because of data analytics investigation system. The system has plugged the loopholes in the collection and help to understanding tax evasion system and control fraudulent practices.