GST registrations increase over 200 % in Coimbatore in the last seven years
The Coimbatore Commissionerate of GST, Central Excise and Audit registered Rs. 3,390 crores revenue in 2023-2024, said K. Ramakrishnan, Commissioner of GST and Central Excise and Audit, Coimbatore, at the GST Day programme in Coimbatore city on July 1, 2024.
According to Mr. Ramakrishnan, the number of tax payers in the commissionerate and GST revenue grew over 200 % in the last seven years. There are 81,552 GST registrations in the commissionerate and 6,000 of them contribute 90 % of the revenue. Most of them are in the Micro, Small and Medium-scale Enterprises (MSMEs) category. Export refunds paid last financial year were Rs.808 crores and 85 % of the payments were made in 60 days. “We a re trying to bring down the timeline,” he said.
The Commissionerate detected 67 cases of tax evasion in FY 24 and Rs.195 crores was the evasion detected. Of this Rs.46 crores were recovered. As many as 465 units were verified for fake registrations and 225 of them were non-existent. The tax involved was Rs.153 crores in these companies. The year 2023-2024 began with 78 % compliance and closed with 93 %, he said.
