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.

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.