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Demonetisation GST to fetch more revenues to govt Jaitley

Goods and Services Tax - GST - Dated:- 27-1-2017 - Visakhapatnam, Jan 27 (PTI) Finance Minister Arun Jaitley on Friday put up a spirited defence of demonetisation, saying the drive shook the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance. He said most contentious issues regarding the Goods and Services Tax (GST) have been sorted out between the Centre and states and the new indirect tax regime is at the f .....

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er. It also becomes very unfair on the normal taxpayer because what the evader manages to evade is what the compliant has to pay more, Jaitley said. The government, therefore, decided to demonetise the high denomination currency, which shook the system for some time . Jaitley said demonetisation has gradually increased the process of integrating the shadow, parallel and informal economies in far greater number with the formal economy. The size of the formal economy is expanding, so are the trans .....

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