On Sunday, Arun Jitely, the Union Minister of the country announced that there has been an increase of 18% in the direct tax collections after the (GST) Goods and Service Tax was brought into implementation.
While addressing the crowd at the Ambedkar International Centre on the occassion of the first anniversary of the GST, Jaitely expressed his opinion through video conference, and confirmed that in the first quarter advanced payments in terms of the gross figure have increased by 44 percent.
The Union Minister asserted, "Despite challenges to the global economy, we had a direct tax increase of 18 percent. The first quarter of this year shows that the personal income tax collection, the gross figure has increased by 44 percent and corporate tax by 17 percent. Indian had fragmented market and it was necessary to switch it over to a more efficient system. A system which does not involves these complications. It was important to respect the concerns of the state. We analysed the genuine concerns of the state. Having brought them to the negotiating table on the strength of the CST payment we agreed to pay to the States, after discussing in the GST Council, a 14 percent increase of revenue for the first five years for any loss of revenue. The States jumped for this proposal and we succeeded in winning the trust of the States back for the GST enactment."