GST impact: Has tax net widened? Here is a fact check

Among the GST registrants, share of firms below Rs. 1.5 cr turnover in revenue mopped up is just 5.5 percent. And firms with annual turnover Rs 5-100 cr have a share in revenue of 11 percent.

Written by Sumit Jha

March 12, 2018 01:49 IST

GST, GST impact, tax, liability, tax liability

Among the GST registrants, share of firms below Rs. 1.5 cr turnover in revenue mopped up is just 5.5 percent. And firms with annual turnover Rs 5-100 cr have a share in revenue of 11 percent.

GST has increased the relevant tax net by more than a half* going by the number of businesses registered. However, since a quarter of the GST registrants doesn’t file returns or pay tax and 40% of the filers claim nil tax liability, the tax net may not have been cast as wide as expected.

This article was first uploaded on March twelve, twenty eighteen, at forty-nine minutes past one in the night.