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National News

Jul 01, 2019

GST effect: 20 States showing over 14% increase in their revenues, says ex-FM

Former Finance Minister Arun Jaitley has said that after two years of GST implementation, 20 States are independently showing more than a 14 per cent increase in their revenues. 

In a Facebook post today, Mr Jaitley said the assessee base in the last two years has increased by 84 per cent. He said, GST has proved to be both consumer and assessee friendly. 

Mr Jaitley said, the high taxation of the pre-GST era pinched consumers’ pocket and acted as a disincentive against tax compliance. He said, in the last two year, GST has seen each of the meetings of the GST Council reducing the tax burden on consumers as tax collections improved. 

He said, most items of consumer use have been brought in the 18, 12 and 5 per cent category. He said, the GST Council is India’s first statutory federal institution, which worked on the principle of consensus.

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