Search
GST Rate Cuts to Set Govt Revenue Back by ₹1 Trillion
January 14, 2019
Finance Minister Arun Jaitley said that by bringing down various items under the lower tax slabs of the Goods and Services Tax regime, the government is now staring at a revenue drop of around ₹1 trillion. He said that the various income tax benefits that are given to the middle class under the NDA government will also lead to a revenue loss of ₹97,000 crores.
After the latest GST Council meeting that was held in December 2018, more items were removed from the highest tax slab of 28%. Currently, there are only 23 items under the 28% slab, 517 under 18% slab, 178 items under 12% slab, 308 items under 5% slab, and 183 items are taxed at zero rate.
Photo on Visualhunt.com
Important Links:
- MBA from UK University: https://ask.careers/courses/mba-from-uk-university/
- Post Graduate Diploma in Banking & Finance: https://ask.careers/courses/post-graduate-diploma-in-banking-finance/
- Professional Diploma in Banking and Financial Services: https://ask.careers/courses/professional-diploma-in-banking-management/
- Ahmedabad: https://ask.careers/cities/ahmedabad/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
