Enhanced revenue collection should now be 'New Normal': Sitharaman

New Delhi, July 1 Finance Minister Nirmala Sitharaman on Thursday said that enhanced revenue collection in recent months should now be the "new normal", as the country has overcome most challenges, including two waves of unprecedented Covid-19 pandemic, in providing stability to the new tax regime.

In her message on GST Day 2021, she expressed satisfaction at the way tax departments handled the situation in providing stability to the GST regime that ensured buoyant tax collections, crossing Rs 1 lakh crore for eight months in a row and record GST collection of Rs 1.41 lakh crore in April 2021.

The fourth anniversary of introduction of GST, the GST Day 2021, was marked by Central Board of Indirect Taxes and Customs (CBIC) and all its field offices across India. The national level programme was organised by CBIC through virtual mode on the digital platform which was attended by all field formations.

The year marked enhanced taxpayer facilitation with Covid-19 relief packages being announced to ease the burden of compliance. As part of the programme, 31 officers were awarded the GST Day commendation certificate across all zones and one officer posthumously.

Sitharaman appreciated the CBIC's effort in recognising more than 54,000 GST taxpayers for their contribution to nation building. Taxpayers facilitation during pandemic involved two Covid-19 relief packages covering late fee waiver, interest rate reduction, relaxation of timelines, and conducting refund drives to enhance liquidity in the hands of taxpayer. Further, GST rates on vaccines, essential medicines and products/services used for prevention and treatment of Covid-19 were also reduced.

The Finance Minister also condoled the loss of 189 personnel, remembered their contribution to the national effort and noted the effort of CBIC in releasing a book "Shraddhanjali" to pay them homage. She congratulated all awardees of 'Commendation Certificate' for their exceptional contribution in GST administration.

In his message, Minister of State for Finance & Corporate Affairs Anurag Singh Thakur expressed gratitude to trade and industry, specially MSMEs, whose continuous support and feedback has helped the Government in steadily improving GST laws, procedures and systems over last four years.