The Goods and Services Tax (GST) regime has reduced the tax burden on consumers with a lower tax incidence on many common use items and has increased revenue buoyancy for states and Centre, Finance Minister Nirmala Sitharaman said on Saturday.
Stating that the all-round benefits of the indirect tax regime are “exemplary”, she said GST revenue buoyancy for states has improved to 1.22 after its implementation from 0.72 before the rollout of GST.
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