Prøve GULL - Gratis
GST simplified compliance & improved tax buoyancy
Millennium Post Delhi
|New Delhi 01July2024
Rolled out on July 1, 2017, GST streamlined 17 taxes & 13 cesses into a 5-tier structure, simplifying the tax regime
-
Introduced seven years ago, the Goods and Services Tax (GST) has simplified compliance, improved tax buoyancy and increased states’ revenues, but fake invoices and fraudulent registration remain a big challenge for policymakers trying to curb tax evasion.
Rolled out on July 1, 2017, Goods and Services Tax (GST) streamlined 17 taxes and 13 cesses into a 5-tier structure, simplifying the tax regime.
The turnover threshold for registration rose to Rs 40 lakh for goods and Rs 20 lakh for services (up from Rs 5 lakh on average under VAT). GST also reduced 495 different submissions (challan, forms, declarations, etc) across states to just 12.
In seven years, the number of registered taxpayers has risen to 1.46 crore from 65 lakh in 2017. Average monthly GST revenues, soared from around Rs 90,000 crore in 2017-18, to about Rs 1.90 lakh crore in 2024-25.
Denne historien er fra New Delhi 01July2024-utgaven av Millennium Post Delhi.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Millennium Post Delhi
Millennium Post Delhi
‘Modi not only scared of Trump but remote-controlled by big business’
Congress leader Rahul Gandhi on Sunday alleged that Prime Minister Narendra Modi was not only \"scared\" of US President Donald Trump, but was also \"remote controlled\" by big business.
1 mins
New Delhi 03November2025
Millennium Post Delhi
THE LONG-AWAITED FIRST CROWN
INDIA WOMEN CREATE HISTORY, OUTPLAY SOUTH AFRICA TO CLAIM FIRST WORLD CUP TITLE
3 mins
New Delhi 03November2025
Millennium Post Delhi
Kuldeep Yadav released from India's T20I squad
India's team management on Sunday released spinner Kuldeep Yadav from the T20I squad in Australia for the upcoming second fourday match between India A and South Africa A in Bengaluru from November 6.
1 min
New Delhi 03November2025
Millennium Post Delhi
Tejashwi was named CM candidate after RJD pointed katta at head of Congress, alleges Modi
Says both Pak, Congress yet to recover from Op Sindoor
3 mins
New Delhi 03November2025
Millennium Post Delhi
"Zero tolerance for any kind of violence'
Any act of violence will not be tolerated and voters will be able to cast their votes peacefully and freely in Bihar, Chief Election Commissioner Gyanesh Kumar asserted on Sunday, a day after the poll body took action against officials in Patna following violence during campaigning in Mokama.
1 min
New Delhi 03November2025
Millennium Post Delhi
Washington stars in India’s series levelling win against Australia
GREAT PERFORMANCE BY COMEBACK STARS
2 mins
New Delhi 03November2025
Millennium Post Delhi
Newspaper delivery delayed in Punjab as police conduct vehicle checks
Newspaper deliveries were delayed at some places in Punjab on Sunday morning after police conducted vehicle checks, particularly commercial transports, during the intervening night of Saturday-Sunday.
1 min
New Delhi 03November2025
Millennium Post Delhi
Tejashwi confident of forming next govt in Bihar
INDIA bloc Chief Ministerial candidate Tejashwi Yadav on Sunday asserted that the Opposition coalition was certain to form the next government in Bihar, and the swearing-in will take place four days after the results of Assembly polls are declared.
1 mins
New Delhi 03November2025
Millennium Post Delhi
Pramod-Sukant, Nitesh and Manisha among gold winners
Tokyo Paralympic champion Pramod teamed up with Sukant to claim the men's doubles SL 3-SL 4 gold
1 min
New Delhi 03November2025
Millennium Post Delhi
Trump to host Syrian President next week
IN 1ST-EVER VISIT BY AHMAD AL-SHARAA TO US
1 mins
New Delhi 03November2025
Listen
Translate
Change font size