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GST collections at ₹1.44-lakh Cr in June : Sitharaman

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NEW DELHI : Finance Minister Smt Nirmala Sitharaman said on the occassion of GST Day that Gross GST collection in June stands at Rs 1.44 lakh crore.

As India celebrates July 1 as the GST Day to mark the implementation of the Goods and Services Tax (GST). GST replaced the old tax regime in the country. The Finance Minister inaugurated GST Day celebrations in New Delhi.

“Not even last year, I would’ve have had this motivational aura in the audience if we were to meet. Thanks to the hardwork that each of you have done over the last five years,” Sitharaman said. “What kind of challenges have we not seen in the last five years?” According to her, the Cental Board of Indirect Taxes and Customs (CBIC) and the Central Board of Direct Taxes (CBDT) should be nimble so that the tax payer gets confidence

There were GST technology and adaptability challenges in 2019, she said. “We had to the invite the tax-paying community to come and sit with GST officials and resolve the problems.”

The taxpayer should feel like their inputs are being respected, she added.

“There are no overlaps in taxation leading to confusion. Discretion has been removed to a large extent,” she said.

“I have seen a lot of change in the GST regime over the past year and a half,” said Tarun Bajaj, revenue secretary, who was also present at the event. “The CBIC is always ready to accept suggestions and improve the regime,” he said.

The 47th GST Council meeting that concluded this week discussed a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers.

The two-day meeting of the GST Council was attended by finance ministers of states & UTs and senior officers from union government & states.

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