Over 1.03 crore businesses have registered under the Goods and Services Tax (GST) regime and the implementation of the biggest indirect tax reform has been smooth so far, Parliament was informed today. As on March 2, a total of 1,03,99,305 taxpayers are registered under GST, which include 64.42 lakh taxpayers who have migrated from the erstwhile tax regimes and 39.56 lakh who have taken new registration under GST, Minister of State for Finance Shiv Pratap Shukla said. GST has subsumed over a dozen local taxes, including excise duty, service tax and VAT. Shukla said the revenue collections from Central GST, State GST, Integrated GST and compensation cess was Rs 93,590 crore for July, Rs 93,029 crore for August, Rs 95,132 crore for September and Rs 85,931 crore for October. The mop up for November stood at Rs 83,716 crore, December (Rs 88,929 crore) and January (Rs 88,047 crore).

Source: dna March 09, 2018 09:45 UTC