Arun Jaitley said “18 Per Cent More Direct Taxes Collected After GST”.
Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes collection last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.
“The total tax base itself has increased significantly,” Mr Jaitley said. “These are the changes taking place on account of GST implementation. As tax collection goes up, capacity to rationalise rates will increase. Therefore, that capacity to rationalise will increase total volume.”
This year, the first quarter shows advanced payments. The gross figure has increased by 44%, the minister said.
In future, the GST will include further “simplifying and rationalizing the rate structure” and bring more products under its ambit. “I am confident that once revenue stabilizes and the GST settles, the GST Council will look into these carefully and act judiciously, Mr Jaitley said in a tweet.
The Goods and Services Tax completes one year today. The government’s flagship “one country one tax” was rolled out last year in a special midnight session in parliament.
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