Finance
Sock JohnsonGST Rate Shake-Up: Centre's ₹47,000 Cr Revenue Smackdown!
Listen up, folks! The Indian Finance Ministry just dropped a major announcement in Parliament: GST rate changes are set to smack us with a staggering ₹47,000 crore loss! But wait, there’s a silver lining—potential revenue boost of ₹93,300 crore is on the horizon! Kerala's sweating bullets with projected losses of ₹8,000 crore. The Rock says, stay tuned, because this tax drama is just heating up!
few days ago | Akshita Singh
Quick rundown
1.GST rate changes could lead to a net negative revenue impact of ₹47,000 crore.
2.Items moved to a 40% tax bracket are expected to generate ₹45,570 crore in revenue.
3.Kerala anticipates a significant revenue loss due to GST changes.
4.The Finance Ministry emphasizes that tax collection is dynamic and compliance may improve.
5.Overall GST impact will be assessed over time considering various factors.
