New Delhi [India], August 13: The GST tax system was first introduced in 2017 in India. As of the present year records, the number of tax filers has increased from 68% (FY 2017-2018) to 90%. Various software has been launched to ease the process of filing the return.
"There has been an outcry that states are not getting their share of taxes properly from the Centre. Currently, the 16th Finance Commission is being constituted. We are advocating that taxes should be shared appropriately with the states that pay the highest taxes to the Centre," he said.
Goods and Services Tax (GST), a key tax reform in India's history, has turned seven years on Monday. In the intervening period, many consumer-centric moves were taken under this new taxation regime.
Union Finance Minister Nirmala Sitharaman will be inaugurating the national conference of Goods and Services Tax enforcement chiefs in the national capital on Monday.
Uttar Pradesh's Finance and Parliamentary Affairs Minister Suresh Khanna has been named the convenor for the Group of Ministers (GoM) constituted by the GST Council to revise the tax rates on goods and services
The Law Committee will examine suitable amendments in the law to exclude ENA for use in the manufacture of alcoholic liquors for human consumption from the ambit of GST.
Chairman Johri said, "We feel that there is a good scope for increasing the tax base. We will take the help of power distribution companies, take the data of electric meters and will also use the property tax data to increase the tax base of GST."
Karnataka Chief Minister Basavaraj Bommai today said the increased revenue of the state will allow the state government to present a better budget this year.
Ahead of the presentation of the Union Budget for fiscal 2023-24, on Wednesday, Chattisgarh Chief Minister Bhupesh Baghel said locals have put forward a demand for new trains in Jagadalpur and Surguja areas.