Finance Ministry’s focus is on bringing all business establishments under GST ambit: Seetharaman.

Vapi (Gujarat), November 7: Finance Minister Nirmala Seetharaman said that the focus of the Finance Ministry is not only on increasing GST revenue, but efforts are also underway to bring all business establishments under its ambit. She was addressing a function organized here to open the 12 GST facility center in Gujarat. From these centers, business establishments can pay GST without any mistake. They will get help in registering and their problems will be solved.

Seetharaman said, “GST collection is continuously increasing. GST has reduced the tax rates on many items compared to earlier. Traders know that under this Act, they will not be subjected  to double tax, as was the case earlier, That is why GST Collections are increasing.” He said many establishments still prefer to remain outside the ambit of GST and are not part of the organized economy. The minister said, “Why should they come under the tax net? Not because they will tax me, but for the real power of the economy we are getting only some people, not all and the economy can be fully organized only when everyone is involved in it.”

He said that staying out of the organized economy is neither good for the country nor for those individuals. The Finance Minister said that if business establishments don’t come under the GST ambit, it means that they are losing potential buyers.