Top 22% firms remit 90% of GST kitty, says Union Finance Minister Nirmala Sitharaman

Ninety per cent of India’s Goods and Services Tax (GST) collections are paid by the top 22% businesses having a turnover above ₹50 crore, Finance Minister Nirmala Sitharaman said on March 21, 2023, dismissing an Oxfam report’s conclusions that the richest 10% contribute a fraction of the GST kitty, while the poorest 50% contribute two-thirds of the revenues.

The Oxfam report “seems to be based on various improbable assumptions and not irrefutable or verifiable facts”, the minister said in Rajya Sabha, noting that the GST is a consumption tax collected from suppliers of goods and services and not from the ultimate consumers of goods and services.

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