Finance Ministry profited by GST with attractive sum of income
The Central had collected a huge sum from GST in last December.
After fall of revenue for two months, the central seems boosted up with the December’s GST revenue. A report from Financial Ministry on Thursday summarizes that 2017 had been ended with a profit. The GST revenue of the Month December is notably Rs. 86,703 crores.
Central had announced to merge of all tax systems as GST (Goods and Service Tax) and got implemented on July 2017. Then the central profited from GST in the month of September with Rs. 92,150 crores. But the income of the following months October and November had shown a huge loss as Rs. 83,000 and 80,808 crores. Now, according to the Thursday’s official information from the central, the profit had been clearly stated for the Month of December.
Tax experts considering that the revenue from GST will be stabilized after a period of time and it will show a constant growth of profit in the coming years. The GST revenue is stated to stabilizing from the previous month.
The Finance Ministry also stated that further one crore tax payers are registered under GST from the month of December 2017 to January 24, 2018 which had increases the profit value.
However the government are profiting by the GST, people are still facing a loss financially by the increasing prize over the essentials of daily life.
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