17 August, 2017
In just a little over a month of the rollout of GST, there has been a steady upward trend in the number of registered indirect tax assessees, also referred to as tax base. According to a senior finance ministry official, the number of indirect tax assessees who have applied for registration or registered for GST is soon to cross 10-million mark. In the earlier VAT tax regime, the number of tax assessees were about 8 million. This 25% of rise in the number of indirect tax assessees has brought a cheer to the Tax Department.
On August 4th 2017, Finance Minister Arun Jaitley clarified that 7.2 million dealers from the previous VAT regime have registred under GSTN, and around 1.3 million new dealers have also registered under GSTN.
Read the full article as reported in Livemint