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The government now looks strict in terms of tax evasion as Commissioner for GST(investigation) has been appointed to get the law enforced and take over the previous tax regime.
Madhya Pradesh state has now 4 lakh registered traders under goods and services tax regime as the senior state commercial tax official mentioned in a public event.
IGST is levied on the interstate supply of goods and services as well as Indian imports and exports. Exports are zero-rated under the IGST Act.
As the GST collection is not as per the government prospect, revenue secretary Hasmukh Adhia is working towards ways to enhance the tax influx.
Since July 8, 2017 – the day when GST was implemented in J&K, it has been observed by tax officials that the state revenue collection in the state dropped down nearly by Rs 1300 crore.
Among the many changes and improvements the GST system brought to the Indian economy, a major increase has been reported in the direct tax revenues and corporate tax collection in the post-GST era.
GST collection is been positive for a long time and now is the time, that the government should think upon the correct and optimum usage of the GST tax collections.
In response to the Finance Secretary Hasmukh Adhia’s written concern over the poor performance of the central tax officials when compared to their state tax counterparts
Recently, there was discontentment within the finance ministry over the Tax revenues collected by the separate authorities including state and central government.
