GST stands for Goods and Service Tax but day to day amendment stands for 'Galti Se Tax'. The government of India in a requisite stand in front of public and companies. The government urges companies to share benefits due to reduced GST ...... GST amendment to be continued ...
No doubt it is good for the nation. One nation One tax system is helpful in growing economy of Inda. India is the world's fastest growing economy among developing countries.
GST rates reduce to tempt voters and GSTN flaws a reason to trouble in returns submission in front of Businessmen that's why GST collection of October month fell down by 10 %. October month GST collection is ₹ 83,344 crore. Meanwhile, CBEC directed his office to take measures to check fall in revenue collection.
Finance ministry presents last year October month revenue collection around ₹ 92,000 crore, falls in revenue is due to rate cuts in many products & services, an exemption in E-way bill, electronic transit permit system and postponed in return matching. Except these, we have collected food revenue in earlier 3 months from IGST but IGST credit after selling of product these are the main reason in October month revenue collection downfall. Current year in July month GST launched in across the country. Central sales tax, service tax, and VAT such kinds of Central and States tax dismissed after launching GST.
Once again before Gujrat election government done reamendment in GST, in consequences revenue collection again falls.
