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  1. Demonetisation: 50 per cent reduction likely in tax collection, says Manish Sisodia

Demonetisation: 50 per cent reduction likely in tax collection, says Manish Sisodia

There may be a reduction of almost 50 per cent in tax collections due to demonetisation, Delhi Deputy Chief Minister Manish Sisodia said on Saturday.

By: | New Delhi | Updated: December 3, 2016 5:14 PM
Sisodia added that such reduction will make it hard to pay salaries of government employees. (PTI) Sisodia added that such reduction will make it hard to pay salaries of government employees. (PTI)

There may be a reduction of almost 50 per cent in tax collections due to demonetisation, Delhi Deputy Chief Minister Manish Sisodia said on Saturday.

Sisodia added that such reduction will make it hard to pay salaries of government employees.

“Tax collection can be 50 per cent lower this month as there is no business in Delhi markets. If so, it would be hard to pay salaries of government employees,” he tweeted.

Sisodia added that similar concern was expressed by many state finance ministers at the Goods and Services Tax (GST) Council Meet held here on Saturday which was also attended by Union Finance Minister Arun Jaitley.

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  1. R
    RM
    Dec 3, 2016 at 1:12 pm
    The increase in income tax collection will be marginalised by reduction in other indirect taxes like excise customs,vat, service tax etc as the business of people has suffered and the s have gone down to almost 50% .Ultimately what govt is going to gain is known to it only ,as what was the agenda for demonetisation was different as being told to people.
    Reply

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