New Delhi: The Comptroller and Auditor General (CAG) of India is conducting the performance audit of the Goods and Services tax and is likely to finalise the report soon.

The performance audit report on the implementation of Goods and Services Tax (GST) could be tabled in Parliament as early as in the forthcoming Winter session beginning December 11.

The CAG is auditing the functioning of the new indirect tax regime since its implementation on July 1, 2017.

The audit aspect would include registration, refund, input tax credit, transition credit mechanism, ease of payment of taxes and the impact on the economic activity, sources said.

The CAG team has already visited the GST commissionerates in major states to get clarity on the functioning of the new indirect tax system and its efficiency and effectiveness, the sources said.

As part of the performance audit, the CAG looks at programmes, systems, and activities to check if they are in accordance with the principles of economy and whether there is any scope for further improvement.

The performance audit will not take into account revenue collections. Its focus would primarily be on the implementation aspect of GST, which has subsumed 17 local taxes.

Tagged as the biggest tax reform since Independence, GST has faced some teething problems in the initial months of its implementation with the GST Network unable to take the load of last-minute monthly return filing rush.

Also, there were hiccups with respect to refunds to be claimed by exporters as well as excessive transitional credit claims.

The monthly average revenue collection from GST in the previous fiscal (July 2017-March 2018) was Rs 89,885 crore. In current fiscal, the collections stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September and Rs 1 lakh crore in October.