The number of entities registered to pay the GST has doubled to 14 million in the six years since its inception, finance minister Nirmala Sitharaman told the Lok Sabha.
The number of entities registered to pay the Goods and Services Tax (GST) has doubled to 14 million in the six years since its inception, finance minister Nirmala Sitharaman told the Lok Sabha, which passed the Central Goods and Services Tax (Second Amendment) Bill, 2023, to align age and qualification criteria with the Tribunal Reforms Act, 2021, thus paving the way to set up a GST appellate tribunal (GSTAT).
Citing June 2023 data, she said the number of taxpayers registered in GST has gone up 1.4 crore. “When started in 2017, we had only 67.83 lakh taxpayers under the GST,” she added. GST is one of the major tax reforms that also saw gross monthly collections jumping from less than Rs.1 lakh crore in 2017 to Rs.1.87 lakh crore in April.
Read more at: Hindustan Times
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