The GST Council will think about lowering tax on electrical automobiles, that are seen as extra environment-friendly, and the matter is pending earlier than it, Minister of State for Finance Anurag Thakur knowledgeable the Lok Sabha on Monday.
Thakur was replying to a query requested by BJP member Varun Gandhi throughout the Query Hour. “The matter has been positioned earlier than the GST Council and might be thought-about. As of now, it’s pending earlier than the council,” he mentioned.
Thakur mentioned the variety of tax filers has doubled below the GST, and it exhibits that folks’s belief within the new tax regime has elevated.
He mentioned the council has taken a number of selections for the reason that Items and Companies Tax, which has introduced many oblique taxes levied by states and the Centre below one regime, was rolled out in 2017 to simplify the train and likewise to profit merchants, together with MSME sector.
Advantages totaling over Rs. 92,000 crore have been supplied to them, he mentioned.
The minister mentioned over 21 lakh returns have been filed in a single day final month which, he added, signifies the brand new tax regime has turn out to be higher with time after preliminary glitches and has stabilised.
The tax assortment in April-Might this yr had elevated by over eight.5 per cent in comparison with the corresponding interval final yr.
He additionally submitted a written reply to a query requested about tax collections.
The whole direct tax in 2018-19 was Rs. 11,37,685 crore towards 10,02,037 in 2017-18, he mentioned, including the direct tax-GDP ratio has risen to five.98 per cent from 5.86 per cent.
The GST assortment in 2018-19 was Rs. 5,81,563 towards Rs. four,42,561 crore in 2017-18, he mentioned, including the overall non-GST oblique tax assortment was Rs. three,55,906 crore within the final fiscal in comparison with Rs. four,69,092 crore within the earlier yr.