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Reducing tax on electric vehicles is pending before the GST Council

The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it, Minister of State for Finance Anurag Thakur informed the Lok Sabha on Monday in Question Hour session .

GST returns

The Minister said that over 21 lakh returns were filed in a single day last month which, he added, indicates the new tax regime has become better with time after initial glitches and has stabilised. The tax collection in April-May this year had increased by over 8.5 per cent compared to the corresponding period last year. He also submitted a written reply to a question asked about tax collections.

The total direct tax in 2018-19 was Rs 11,37,685 crore against 10,02,037 in 2017-18, he said, adding the direct tax-GDP ratio has risen to 5.98 per cent from 5.86 per cent. The GST collection in 2018-19 was Rs 5,81,563 against Rs 4,42,561 crore in 2017-18, he said, adding the total non-GST indirect tax collection was Rs 3,55,906 crore in the last fiscal compared to Rs 4,69,092 crore in the previous year

Author: Niranjan Reddy

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