Finance
Mr. BillionhairIndia's GST Shake-Up: A Jaw-Dropping ₹47,000 Cr Loss!
Folks, the Indian Finance Ministry just revealed a staggering ₹47,000 crore revenue loss from the GST shake-up! They claim a whopping ₹93,300 crore could roll in, but wait! With some items jumping from 28% to 40%, Kerala's in a panic—losing up to ₹8,000 crore! It's a total disaster, folks! I told you so! Buckle up, it's gonna be a bumpy ride!
few days ago | Akshita Singh
Quick rundown
1.GST rate changes could lead to a net negative revenue impact of ₹47,000 crore.
2.Items moved to a 40% tax bracket are expected to generate ₹45,570 crore in revenue.
3.Kerala anticipates a significant revenue loss due to GST changes.
4.The Finance Ministry emphasizes that tax collection is dynamic and compliance may improve.
5.Overall GST impact will be assessed over time considering various factors.
