GST, simplified income tax resulted in record tax collection: PM Prime Minister Narendra Modi has said the GST and simplified income tax introduced by the Central government have resulted in record tax collection.

Prime Minister Narendra Modi inaugurated the new campus of National Academy of Customs, Indirect Taxes & Narcotics at Palasamudram village in Sri Sathya Sai District in Andhra Pradesh.

Addressing the gathering, the Prime Minister expressed confidence that the new campus of NACIN would create new dimensions of good governance and give a boost to trade and industry in the nation.

“We gave the country a modern system in the form of GST and simplified income tax and introduced faceless assessment. All these reforms have resulted in record tax collection”, the Prime Minister said.

“We are returning people’s money through various schemes’, " he added, stating that the IT exemption limit was raised from the income of Rs 2 lakh to Rs 7 lakh rupees. Tax reforms after 2014 have resulted in tax savings of about 2.5 lakh crore rupees for the citizens,” he said.

"The number of taxpayers is consistently increasing in the country as they feel happy that their tax money is put to good use," he stated.

The Prime Minister also highlighted the special attention paid to the optimum utilisation of resources, pointing out the past government which tended to stall, shelve and divert projects causing huge losses to the nation