Arvind Subramaniam, chief economic advisor, outlined the country's economic potential for the Budget and fiscal year in a presentation of Economic Survey. The Economic Survey shows 9.8 million unique GST registrants added till December 2017, slightly more than the total indirect tax registrants under the old system. Adjusting the base for double and triple counting, "the GST has increased the number of unique indirect taxpayers by more than 50% substantial 3.4 million," it said. Current data suggest that the GST tax base (excluding exports) is Rs 65-70 lakh crore, broadly similar to these two previous estimates. This translates roughly into about 1.8 million additional taxpayers due to demonetization-cum-GST, representing 3% of existing taxpayers," the survey said.

Source: dna January 29, 2018 23:37 UTC