The GST council would be looking at rejigging some products in different buckets and accordingly the revenue should definitely go up, said Suresh Rohira, Partner, Grant Thornton, in an interview with ETNOW.
Edited excerpts:
The highest GST collections so far have come in March. Do you believe the trend of one Rs 1 lakh crore is a sustainable trend?
First of all, I think Rs 1 lakh-crore -mark is a good achievement for the government. We say that because originally the targets were somewhere close to Rs 90,000 crore when initially GST began. So, Rs 1 lakh core is a good achievement. Definitely in the days to come, the government is going to take a relook in terms of the e-way bill systems and also bringing in new sectors like petroleum and real estate. So, I would say more or less it is sustainable and definitely the new government will take some time to make a decision and thereafter move on it.
is a huge gap between what the government had budgeted for and the kind of numbers that are flowing in FY19. In terms of the revenue gap, on the indirect tax side, there could be a shortfall of Rs 30,000 crore. What does the government need to do to plug this gap?
Every penny counts at this moment, especially with the elections coming up and with the sentiments and more so also from the perspective of what they had decided to attain. While they haveRead More – Source
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