Bihar deputy chief minister and GST council member Sushil Kumar Modi said from September GST refunds will be done through a single source, as against the present system that sees refunds disbursed from the state and the Centre.
Speaking after a council meeting here, he said the single source refund will also be applicable for the people who export goods to other states as well. “GST will complete two years in July and the results have been positive,” he said.
In 2017-18 (nine months), revenue collection through GST stood at Rs 7.4 lakh crore and in 2018-19 it is Rs 11.8 lakh crore. “There has been a steep rise in the numbers with a growth of 19%. The average monthly revenue for 21 months stands at Rs 91,334 crore, compared to 2015-16 where value-added tax was at Rs 70,000 crore,” he said.
Emphasising that more efforts will be made to simplify filing returns in the coming years, Modi said GST Sahaj will be introduced from 1st October with the prototype ready for roll-out on 1st July. Sahaj is a simplified one-page GST summary return for the taxpayers with a turnover of up to Rs 5 crore.
GST refunds will be done through single source from September : Sushil Modi
