The Finance Ministry is keen on bringing all businesses under GST net

The Finance Ministry is keen on bringing all businesses under GST net Finance Minister Nirmala Sitharaman on Tuesday said the Finance Ministry’s focus is not only on increasing GST revenue but also on bringing all businesses under its ambit.

She was speaking at a function to open 12 GST Suvidha Kendras in Gujarat. “GST ‘one nation one tax’ collection is going up every year, every month. GST has brought tax rates down on many items compared to earlier times.

Businessmen know they are not going to be double taxed under GST which was the case earlier. GST collection is increasing because of it,” Sitharaman said. But many establishments still prefer to remain out of the ambit of GST and are not part of the formal economy, she said.