Buoyant GST collections will create room for the GST Council to lower tax charges, Haryana Deputy Chief Minister Dushyant Chautala, the convenor of a ministerial group of the Council tasked with analysing income traits, mentioned on Friday.
“Last year, GST revenues were around ₹1.5 lakh crore a month and this year, the average revenues have been around ₹1.6 lakh crore. I believe if this trend persists, the GST Council would be inspired to further cut the average tax rate which is less than 12% now,” Mr. Chautala mentioned.
Revenue Secretary Sanjay Malhotra, who spoke after Mr. Chautala at an occasion in Gurugram to introduce a brand new reward scheme for shoppers who add their GST-paid invoices on an app, mentioned it was the GST Council’s endeavour to maintain charges minimal.
Mr. Chautala mentioned replicating the lottery-like system, which many States operated earlier to popularise the Value-Added Tax (VAT) regime, was mentioned within the Council three years in the past, and would help monitor business-to-consumer transactions higher.
“It was decided to start it as a pilot in Haryana, Gujarat, Assam and three Union Territories with ₹30 crore set aside per year to reward taxpayers directly by a draw of lots for uploading invoices under the ‘Mera Bill Mera Adhikaar Scheme’,” Mr. Chautala added.
