New Delhi: Gross GST Collection in June: Rs 1.44 lakh crore, Finance Minister Nirmala Sitharaman said on Friday on the occasion of GST Day,
India celebrates 1st of July as GST Day to mark the implementation of Goods and Services Tax (GST). GST replaced the old tax system in the country. The Finance Minister inaugurated the GST Day celebrations in New Delhi on Friday.
Sitharaman said, “Even not last year, if we met, the audience would have had this inspiring aura. Thank you for the hard work each one of you have put in over the last five years.” “What kind of challenges have we not seen in the last five years?”
He said that in 2019 there were challenges of GST technology and adaptability. “We had to invite the tax paying community to come together with the GST authorities and solve the problems.”
The Central Board of Indirect Taxes and Customs (CBIC) and the Central Board of Direct Taxes (CBDT) have to be nimble so that the taxpayer has confidence, according to them. He said taxpayers should feel that their inputs are being respected.
“There is no overlap in taxation which leads to confusion. Discretion has been largely removed,” she said.
Revenue Secretary Tarun Bajaj, who was present on the occasion, said, “I have seen a lot of changes in the GST regime in the last one and a half years.” “The CBIC is always ready to accept suggestions and improve the system,” he said.
47th gst council meeting Several issues were discussed in the meeting that ended this week, including a mechanism for states to compensate for revenue loss, change in tax rate on certain items and easing of registration norms for small online suppliers.
union two day meeting GST Council Finance ministers of states and union territories and senior officials of the central government and states participated.
(with inputs from agencies)
India celebrates 1st of July as GST Day to mark the implementation of Goods and Services Tax (GST). GST replaced the old tax system in the country. The Finance Minister inaugurated the GST Day celebrations in New Delhi on Friday.
Sitharaman said, “Even not last year, if we met, the audience would have had this inspiring aura. Thank you for the hard work each one of you have put in over the last five years.” “What kind of challenges have we not seen in the last five years?”
He said that in 2019 there were challenges of GST technology and adaptability. “We had to invite the tax paying community to come together with the GST authorities and solve the problems.”
The Central Board of Indirect Taxes and Customs (CBIC) and the Central Board of Direct Taxes (CBDT) have to be nimble so that the taxpayer has confidence, according to them. He said taxpayers should feel that their inputs are being respected.
“There is no overlap in taxation which leads to confusion. Discretion has been largely removed,” she said.
Revenue Secretary Tarun Bajaj, who was present on the occasion, said, “I have seen a lot of changes in the GST regime in the last one and a half years.” “The CBIC is always ready to accept suggestions and improve the system,” he said.
47th gst council meeting Several issues were discussed in the meeting that ended this week, including a mechanism for states to compensate for revenue loss, change in tax rate on certain items and easing of registration norms for small online suppliers.
union two day meeting GST Council Finance ministers of states and union territories and senior officials of the central government and states participated.
(with inputs from agencies)