The Coimbatore Commissionerate of GST, Central Excise and Audit registered ₹ 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 ₹808 crores and 85 % of the payments were made in 60 days. “We are trying to bring down the timeline,” he said.
The Commissionerate detected 67 cases of tax evasion in FY 24 and ₹195 crores was the evasion detected. Of this ₹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 ₹153 crores in these companies. The year 2023-2024 began with 78 % compliance and closed with 93 %, he said.
According to Banoth Mrugender Lal, Joint Commissioner of Commercial Tax, Coimbatore, it has 77,000 dealers registered with it for GST, covering Coimbatore, Pollachi and the Nilgiris zones. The gross tax collection last fiscal was ₹ 3,810 crores and 90 % of the revenue came from about 5,100 tax payers. The Department will soon adopt data driven approach, he said.
S.K. Sundararaman, chairman of the Southern India Mills’ Association, said the textile sector had transformed lives in rural areas and should now focus more on value addition, intellectual property rights, and branding. Free Trade Agreements are encouraging several companies to go abroad with their brands.
N. Rengaraj, Principal Commissioner of Income Tax, who was the chief guest, said the government had introduced several measures to increase revenue. Use of technology has gone up, he said.
Top tax payers were felicitated at the event.
