Finance Minister Nirmala Sitharaman highlights GST’s impact, noting tax buoyancy increase from 0.72 to 1.22 post-GST, with state revenues remaining robust at 1.15 even after compensation ends. Without GST, states would have garnered Rs 37.5 lakh crore; with GST, actual revenue hit Rs 46.56 lakh crore. Sitharaman dispels myths about GST’s distribution, emphasizing states’ significant share and pro-poor tax reforms. She inaugurates Justice Sanjaya Kumar Mishra as the first President of the GST Appellate Tribunal, marking the tribunal’s vital role in settling GST disputes.
GST Boosts State Revenues, Sitharaman Affirms
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