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Government gets Rs 42,000 crore tax so far in first filing under GST


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NEW DELHI: As much as Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) regime and the revenues are expected to swell further as the filing cycle closes this later this week.

A senior official said that about Rs 15,000 crore has come in as Integrated-GST, which is levied on inter-state movement of goods, and another Rs 5,000 crore by way of cess on demerit goods like cars and tobacco.

The remaining Rs 22,000 crore has come in as Central-GST and State-GST, which would be split equally between the Union and state government.

"Tax deposited till this morning was Rs 42,000 crore," the official said.

 

http://m.timesofindia.com/business/india-business/government-gets-rs-42000-crore-tax-so-far-in-first-filing-under-gst/articleshow/60161639.cms

 

Thats crazy amount of tax money we collected. I don't have any reference to what it was collected last year but this seems high. Seems like the best to spend on much needed infra, education and healthcare.

 

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