GST created dip in revenue collection: Minister

Minister for Public Works K. Lakshminarayanan has said that the implementation of Goods and Services Tax has created a huge dip in the revenue.

Participating in GST Day celebrations on Friday evening, he said the Union Territory’s budgetary expenditure was mostly met through the compensation given by the Centre during the last five years. “The five-year compensation given by the Centre has come to an end now. From here on, it will be difficult to run the administration. Hence, we have asked the Centre to extend the compensation for another five years. But the nation as a whole has benefited from the new taxation policy as it is more transparent and has helped widen the commercial tax base,” he said.

GST has also helped in putting a check on tax evasion, he added.

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Printable version | Aug 14, 2022 6:42:11 am | https://www.thehindu.com/news/cities/puducherry/gst-created-dip-in-revenue-collection-minister/article65592669.ece