Tax to reduce on Electric Vehicles – GST Council to Consider

The GST Council will think about decreasing tax on electric vehicles, which are viewed as more environment-friendly, and the issue is pending before it, minister of state for finance Anurag Thakur educated the Lok Sabha on Monday.

Thakur was answering to an inquiry asked by BJP part Varun Gandhi during the Question Hour.

“The issue has been put before the GST Council and will be considered. Till now, it is pending before the council,” he said.

Thakur said the number of tax filers has multiplied under the GST, and it demonstrates that people trust in the new tax regime has expanded.

He said the committee has taken few decisions since the Goods and Services Tax, which has brought numerous indirect taxes collected by states and the Center under one regime, was taken off in 2017 to simplify the activity and furthermore to profit traders, including MSME (smaller scale, little and medium ventures) division.

Advantages totalling over Rs 92,000 crore have been given to them, he said.

The minister said more than 21 lakh returns were documented in a single day a month ago which, he included, demonstrates the new tax routine has turned out to be better with time after beginning glitches and has balanced out.

The tax gathering in April-May this year had expanded by over 8.5 percent compared with the corresponding period a year ago.

He likewise presented a composed answer to a question posed about tax accumulations.

The all direct tax in 2018-19 was Rs 11,37,685 crore against 10,02,037 out of 2017-18, he stated, including the direct tax GDP proportion has ascended to 5.98 percent from 5.86 percent.

The GST accumulation in 2018-19 was Rs 5,81,563 against Rs 4,42,561 crore in 2017-18, he stated, including the all non-GST indirect tax gathering was Rs 3,55,906 crore in the last financial compared with Rs 4,69,092 crore in the previous year.

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