IGST collection: State sees 21% hike in 24-25 FY compared to previous fiscal

Kolkata: The state government has achieved over 21 per cent increase in its Integrated Goods and Services Tax (IGST) collection in the 2024-25 fiscal year (FY) compared to the 2023-24 FY. The increase in collection that is applied to interstate (between 2 states) supply of goods and/or services, and on imports and exports, has been Rs 4,000 crore more in the 2024-25 FY in comparison to the previous fiscal year. As per figures by the state Directorate of Commercial Taxes, in FY 24-25, IGST collection has been Rs 22,000 crore against Rs 18,000 crore in fiscal 2023-24.

An official in the Directorate said that a more focused input tax credit utilisation pattern, reversal of ITC and sector-specific anti-evasion drive, particularly in the last two quarters of FY 24-25, contributed to this significant rise. “On encountering discrepancy during data analysis, high turnover with no reflection, registration with fraud link, TDS mismatch etc, the matter was taken up by our anti-evasion team,” said the official. Nabanna sources said that in this year, the anti-evasion team reached out at 7,300 places, collecting revenues to the tune of Rs 2400 crore. In 2023-24, the number of drives was 6,900. Around 1,000 frauds through ITC were detected. The collection was Rs 230 crore.

The registration of companies for GST reduced 40 percent since the state government made biometric-based Aadhar verification mandatory for GST registration. Such biometric authentication was introduced in August, 2024. The applications for registration which was around 8,500 last month prior to Aadhaar authentication reduced to around 5,500 which indicates many organisations are abstaining from GST registration to avoid getting caught for bogus registrations. In the 2024-25 fiscal, the state’s GST collection was Rs 46893 crore which is nearly Rs 5,000 crore more than fiscal 2023-24.