Indirect Taxes
- FM proposes to retain same tax rates for indirect taxes and import duties
- GST unified the highly fragmented indirect tax regime in India
- Average monthly gross GST collection doubled to Rs 1.66 lakh crore this year
- GST tax base has doubled
- State SGST revenue buoyancy (including compensation released to states) increased to 1.22 in post-GST period (2017-18 to 2022-23) from 0.72 in the pre-GST period (2012-13 to 2015-16)
- 94% of industry leaders view transition to GST as largely positive
- GST led to supply chain optimization
- GST reduced the compliance burden on trade and industry
- Lower logistics cost and taxes helped reduce prices of ....
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