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6 years has been completed since the implementation of GST. Goods and Services Tax Network (GSTN) has published a Statistical Report on the completion of 6 years of GST. Active Taxpayers as on 30th June, 2023 are 1,40,91,249
GST has undoubtedly transformed the taxation landscape. However, there are certain areas that need to be addressed in order to ensure its continued success and effectiveness. While celebrating ‘6 Years of GST’,
Several simplifications in procedures of GST have been undertaken, Acts/Rules have been amended by the Government in the last six years in the several occasions. Still there are certain grey areas needs to be addressed by the Government for the smooth and successful of GST system in the country.
GST has done remarkably well. Going by a recent survey by a leading tax consulting agency, 94 per cent of the industry (88 per cent of MSMEs) surveyed expressed “positive” sentiment towards the new tax regime.
As we celebrate six years of the GST roll out on July 1, 2023, we can see a new high of this tax reform wherein revenue collection of Rs. 1.5-lakh crore every month is a new normal. The Prime Minister…
Goods and Services Tax (GST) has acted as an engine for driving domestic consumption and helped households save on monthly bills since its implementation six years ago, the government said on Friday. Giving a comparison of the tax rates of…