New GST appellate tribunal benches at 50 new locations soon: Revenue Secretary
One Nation One Tax: The country is expecting an increase of about 12 per cent in the Goods and Services Tax collections in the next fiscal. This comes at a time when the country is on a sharp growth trajectory and all eyes are on India and its growth prospectus, taxation plays a very important and key role.
In an exclusive interview with Republic Business, Revenue Secretary, Sanjay Malhotra said the increase in tax payers net has been achieved with help of digitisation.
MSMEs contended with GST
In the recent Interim Union Budget 2024, Finance Minister Nirmala Sitahraman spelled out that over 80 per cent respondents in a survey, which consisted of traders and industry players, revealed that industry was contended with the threshold limit increase from Rs 20 to Rs 40 lakh.
Reacting to revelations of the survey, the country’s Revenue Secretary said, “ This is a survey which was conducted by one of the leading consulting firms at the end of six years of GST.
” According to the survey, more than 90 per cent, in fact, about 94 percent of the CEOs, the leaders of the industries, and almost all sectors of the economy, viewed the GST as largely positive, Malhotra added.
